Daily Business Report-Sept. 13, 2019
Landlords and another backer, the California Business Roundtable, hope the bill will blunt support for a broader rent control initiative.
California rent cap bill will affect millions
Legislation will limit annual rent increases to 5 percent
Millions of California renters are about to receive some of the nation’s strongest protections against rent hikes and evictions.
California apartment owners are okay with that, CalMatters’ Matt Levin writes.
The legislation approved Wednesday will limit annual rent increases to 5 percent plus the rate of inflation, typically 2percent-3percent, and give tenants more protection against eviction.
Gov. Gavin Newsom intends to sign the legislation, authored by Assemblyman David Chiu, a San Francisco Democrat. The legislation doesn’t extend to most single-family homes that are rentals.
Landlords and another backer, the California Business Roundtable, hope the bill will blunt support for a broader rent control initiative, aimed for the November 2020 ballot.
Unfinished business: Legislation stalled to expand the renters’ tax credit. The credit for low-income has been fixed at $60 since 1979.
The proposal by Sen. Steve Glazer, an Orinda Democrat, would have helped 2.4 million low-income renters by more than doubling the credit, with more money for renters with children.
Why it failed: A $500 million a year cost to the state budget.
Click here for Calmatters’ Matt Levin in-depth look at the new legislation.
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Helen Griffith named inaugural executive
director of The Preuss School UC San Diego
Following a nationwide search, UC San Diego alumna Helen V. Griffith, Ed.D., has been appointed the inaugural executive director of The Preuss School UC San Diego, effective Oct. 7, 2019. Most recently, Griffith was the founding executive director and CEO of е3 Civic High, a public charter high school located in the San Diego Central Public Library, a role which she has held since 2012. The Preuss School is a unique charter middle and high school for low-income students who strive to become the first in their families to graduate from college. Located on the UC San Diego campus, The Preuss School is consistently recognized by U.S. News & World Report as the best high school in San Diego County and among the top 10 in California.
For Griffith, the role is a return to UC San Diego, where she earned her bachelor’s degree in communication in 1981.
The Preuss School enrolls more than 800 students in grades six through 12 who come from over 40 diverse San Diego communities
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General Atomics to build Navy
submarine bearing support structures
General Atomics Electromagnetic Systems (GA-EMS) announced that it has been awarded a contract from Naval Surface Warfare Center, Carderock Division (NSWCCD) to fabricate and deliver two large Bearing Support Structures for the Columbia Class submarines.
“This contract leverages our extensive manufacturing competencies to ensure these critical structures are delivered to NSWCCD as the first new Columbia Class submarine begins construction in October 2020,” said Scott Forney, company president. “We have a proven track record in the manufacture of First-Time Quality components and safety-critical systems for undersea and surface vessels.”
General Atomics will manufacture the two Bearing Support Structures at its facilities in Tupelo, Miss. The Navy intends to build 12 Columbia Class submarines over the next 20 years.
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Baggage Nanny launches
at San Diego International Airport
Baggage Nanny, a baggage pickup, storage and delivery service, launched Thursday at San Diego International Airport. A graduate of the airport’s Innovation Lab, the concierge service allows travelers to maximize their vacation and business travel time and reduce stress by securely storing and delivering baggage to their lodging destination at specified times.
Baggage Nanny can now be found at a staffed kiosk in Terminal 1, next to baggage claim turnstiles. It is expected to open a second kiosk at Terminal 2 by the end of September, which will be located at the base of the terminal’s escalators leading to the baggage claim area.
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Trigild announces 2019 fall lender conference
Leaders in the commercial real estate and finance industries will examine pressing questions on tariffs and trade wars, interest rates and other major issues at the 19th annual Trigild Fall Lender Conference Oct. 23-25 at the Hotel del Coronado.
The event line-up will feature keynote speaker Ryan “Birdman” Parrot, a Navy SEAL, author and founder of two nonprofit organizations benefitting veterans and first responders.
Attendees can register or learn more about the event, by visiting www.trigildlenderconference.com.
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Life Time holds hiring fairs Sept. 14 and 26
to fill more than 150 positions in La Jolla
In preparation for the opening of its first San Diego location later this year, Life Time, a healthy lifestyle brand, is hosting hiring events on Saturday, Sept. 14 from 9 a.m. to 1 p.m., and Thursday, Sept. 26 from 3 to 7 p.m. The events will be held at the Marriott San Diego La Jolla, 4240 La Jolla Village Drive, La Jolla 92037.
The country club-style athletic resort and spa is hiring for more than 150 full- and part-time in the LifeSpa, LifeCafe, Member Services, Facility Operations and Personal Training areas. Prospective applicants are asked to bring a copy of their resume and dress professionally to meet the club’s leadership team and discuss employment opportunities.
Additional information can be found by calling (858) 410-7100.
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Community college district celebrates Hispanic Heritage Month
San Diego City, Mesa, and Miramar colleges and San Diego Continuing Education will be celebrating Latino culture and contributions with music, exhibits, discussions, and more when National Hispanic Heritage Month gets underway Sept. 15.
In addition, October 14-18 has been declared Undocumented Student Week of Action, and San Diego Community College District campuses will host events to build support for undocumented students.
Most Hispanic Heritage Month events are free and open to the public.
Click here for a listing of all the events.
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Board of Supervisors votes to preserve
300 acres of agricultural land
San Diego County Supervisors voted Wednesday to pay property owners to keep roughly 300 acres of their land in agricultural production instead of possibly selling it into development, as part of a program to preserve agriculture and still support farmers and ranchers.
The board voted 5-0 to pay nearly $690,000 to turn 143 acres in Fallbrook and 155 acres near El Cajon into agricultural easements as part of the county’s Purchase of Agricultural Easement (PACE) program.
Under the exchange, the owners would keep the property they are currently using for grazing and to grow avocados, citrus and olives, in return for keeping the land in agricultural use forever.
The county created PACE as a pilot program in 2011, and fully established it in 2013, to preserve agricultural land in the unincorporated areas. PACE does that by paying agricultural landowners who want to place a permanent easement on their land that will limit its future use to farming and-or ranching.
