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  • STILL NO BUDGET – 86 DAYS LATE – “FRAMEWORK” AGREEMENT REACHED?

    Posted: September 24, 2010 | Posted by CBPA | No Comments

    Word leaked out yesterday from the Governor’s office that the state’s longest budget impasse in history may be drawing to a close. “The governor and the leaders have reached a framework of an agreement. We will continue to work through the details over the weekend and hope to come to a final agreement Monday when they reconvene,” said Schwarzenegger spokesman Aaron McLear.

    Although the lack of a budget has drawn less than a public uproar, it has had a significant impact on the commercial real estate industry. Many building owners that lease to state entities have not been paid for two or three months; and many contractors that service the buildings are expected to continue to work, even though invoices are not being attended to. 

    We hope this “framework” is indeed a path to a quick close on this budget.  And we hope that the budget they adopt will honestly account for income and spending.



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