Daily Business Report-July 1, 2019
Lisa Ordóñez named first woman dean
at UC San Diego’s business school
Lisa D. Ordóñez has been appointed the next dean of the University of California San Diego’s Rady School of Management, effective Sept. 1. She currently serves as the vice dean of academic programs at University of Arizona’s Eller School of Management. A first-generation college graduate, Ordóñez has been a dedicated contributor to programs that support student success and assist women and underrepresented minorities in reaching their career goals.
As the successor to Robert Sullivan, who was appointed as the school’s founding dean in 2003, Ordóñez is the first woman dean at the UC San Diego business school.
In her role as vice dean at the University of Arizona, Ordóñez manages an $80 million budget; oversees, develops and resources high quality academic and research programs; and guides departments in the recruitment and promotion of a diverse faculty. She co-chaired the campuswide process that created the University of Arizona’s 2019 Strategic Plan, which includes more than 90 strategic goals and initiatives intended to guide the university’s priorities for years to come.
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Touchstone Communities building
632-home community in Valley Center
Touchstone Communities announced development is underway at Park Circle, a 186-acre master planned community in Valley Center. The project has been more than six years in the making and is projected to open in spring 2020.
The community plan includes 632 homes, three private recreation complexes, 34,000 square feet of retail, and a 2.6-acre public park brimming with amenities including a stage and event lawn. More than eight miles of trails and pathways provide residents with a sustainable and pedestrian-friendly lifestyle, and offer convenient access to the recreation centers, parks, shopping, and dining.
Home prices are anticipated to range from the high $400,000s to the mid $700,000s with home sizes ranging from 1,300 to 3,300 square feet. The homes will offer a diverse mix of product types and architecture from cozy cottages to larger estate homes that will help meet the need for housing in north San Diego County.
The 2.6-acre public park will feature an event stage, barbeques, tot lots, sports courts, bocce ball and horseshoes, and many other amenities.
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Assessed property value in San Diego County
grows by 5.75 percent to record $575 billion
The assessed value of all taxable property in San Diego County totaled $574.9 billion in 2019, an increase of 5.75 percent or $31.2 billion over last year, County Assessor Ernie Dronenburg reported. The county’s net assessed value after the deduction of property tax exemptions for homeowners, disabled veterans and charitable organizations is $551.9 billion.
Dronenburg attributed this fifth consecutive year of increases in excess of 5 percent to continued improvement in the housing market and the economy as a whole. “In addition, business property, such as boats, computers, and even penguins, saw an increase of 7.35 percent this year, closing at a high of just over $19.5 billion,” he said.
Approximately $5.51 billion, using Proposition 13’s statutory 1 percent tax rate, will be distributed to fund schools, law enforcement, parks and other public services. The 2019 Assessment Roll consisted of 1,001,029 real estate parcels, 57,699 businesses, 13,243 boats and 1,774 aircrafts.
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NIWC Pacific awards $8.3 million task
order for upgrades to warning system
Naval Information Warfare Center Pacific in San Diego, formerly the Space and Naval Warfare Systems Center Pacific, has awarded a one-year task order valued at $8.3 million to Serco. Inc. for upgrades to the announcing system that uses exterior speakers to warn local communities at or near naval installations of impending danger due to an emergency. It’s called the Giant Voice Mass Notification System, which is located at multiple locations in the Western Pacific region.
Serco, headquartered in Herndon, Va., will provide production and installation services, which includes: pre-installation testing and check-out, retrofit installation, inspection, pre-setup, optimization, training, and systems operational verification testing.
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Water Authority board adopts
$1.7 billion two-year budget
The San Diego County Water Authority’s Board of Directors adopted a $1.7 billion budget for fiscal years 2020 and 2021. The new budget is up 5 percent from the current two-year budget, due largely to increasing costs for water supply, supply reliability and infrastructure improvements.
Following a public hearing, the board also approved an increase in wholesale water rates for calendar year 2020. Although the Water Authority’s budget spans two fiscal years, the agency sets rates annually to more effectively manage changing conditions.
Rates and charges for member agencies will increase by 4.3 percent for treated water and 4.8 percent for untreated water. The increases are attributable to rate increases by the Metropolitan Water District of Southern California, continued regional investments in supply reliability, and lower demand that means fixed costs must be spread over fewer gallons of water sales.
As part of its long-term financial strategy, the Water Authority will use $38 million from its Rate Stabilization Fund to minimize 2020 rate increases.
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City of San Diego completes
first half of drone pilot program
The city of San Diego has reached the half-way mark of a pilot program that aims to safely and successfully integrate drones into the national airspace. Selected by the Federal Aviation Administration (FAA) and the U.S. Department of Transportation, San Diego was among 10 agencies nationwide chosen to participate in the Unmanned Aircraft System (UAS) Integration Pilot Program (IPP).
With rapidly increasing commercial and private use of UAS technologies, also commonly referred to as drones, the FAA aims to craft new policies that support more complex low-altitude drone operations and their full-scale integration into the national airspace.
In the first half of the drone pilot program, the city of San Diego’s IPP team has operated more than 640 flights using 17 different types of aircraft. These flights have been conducted in various classifications of airspaces including military and controlled airspace.
In response to survey results and public feedback, the city has released a drone operator guide to answer commonly asked questions.
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Acutus Medical raises $100 million in VC funding
Acutus Medical, a Carlsbad-based company that builds heart mapping systems, has raised $100 million in VC funding along with a $70 million credit to fund its full-scale market launch. With the additional capital, Acutus plans to hire additional talent and grow its local operations to about 200 people.
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Columbia Care schedules grand opening
of flagship marijuana dispensary in San Diego
Columbia Care Inc., one of the largest operators in the global medical cannabis industry, announced the launch of its West Coast expansion strategy with the grand opening of its flagship San Diego dispensary, the company’s first facility in California. Located in Pacific Beach at 4645 DeSoto St., Columbia Care California will provide access to its portfolio of cannabis-based health and wellness solutions to more than 3.3 million local residents and more than 35 million tourists that visit the region annually.
The company said that by the end of August it will complete construction on its 45,600- square-foot, state-of-the-art manufacturing facility.
The grand opening is scheduled to take place July 3 and will be accompanied by a collection of demos, activities and events held at the Columbia Care San Diego location that will be free for all over 21 who come to the dispensary. A schedule of events can be found online at www.col-care.com/california/
