February 14, 2020 Comments (0) Views: 399 National News, West

Industry Gears Up to Meet and Defeat CA’s Prop 10, Part 2

Now that rent control is confirmed for California’s November 2020 general election, state industry professional associations are gearing up to oppose the revised attempt at ballot box activism which would undo the legislative solution brokered by Governor Newsom and state leaders after the 2018 failure of Prop 10 from the same authors.

Most recently, the State Building and Construction Trades Council of California, representing its more than 450,000 members, joined the California Apartment Association, the California Rental Housing Association and a growing roster of industry voices in publicly declaring committed opposition and action.

In a statement, CalRHA’s Sid Lakireddy notes, “The Michael Weinstein Redux Initiative is one that voters soundly rejected in November 2018. This initiative means property values will plummet, reducing property tax revenue, and renters will have less access to quality rental stock when owners don’t invest back into the property.”

Read more at Curbed LA

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