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1972 – Over 45 years of service to the commercial industrial retail real estate industry – 2018.

GOVERNOR NEWSOM RELEASES FIRST BUDGET

January 12, 2019

In a busy week, just days after being sworn in, Governor Newsom released his first proposed spending blue print, the 2019-20 state budget proposal.  The budget proposes a record-setting $209 billion in spending.

There will be many opportunities to argue about the state’s spending priorities but for now we want to thank the Governor for including with the $13.6 billion in funds to pay down state debt, keep up with pension obligations, and provide some much-needed one-time infrastructure expenditures, investing funds in stopping organized retail crime, and focus attention on expanding the state’s enhanced infrastructure financing districts and implementation of opportunity zones.

“During my inaugural speech, I described the California Dream as a house we are building together,” said Governor Newsom. “That wasn’t just a speech device – it’s exactly what we are proposing today. To make the California Dream available to all, our state must be fiscally sound. This Budget lays a strong financial foundation for our state by eliminating debts, expanding the rainy-day fund and paying down our unfunded liabilities,” said the Governor in a press release.

Click here to read a detailed summary of the massive spending plan.

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