ACTION Apartment Association

California weighs extending eviction protections past June

06/22/2021 9:22 AM | Margaret Fulton (Administrator)

Gov. Gavin Newsom says California will pay off all the past-due rent that accumulated in the nation’s most populated state because of the fallout from the coronavirus pandemic, a promise to make landlords whole while giving renters a clean slate.

Left unsettled is whether California will continue to ban evictions for unpaid rent beyond June 30, a pandemic-related order that was meant to be temporary but is proving difficult to undo.

Santa Monica Expected to Confirm Contract for New Interim City Manager

06/22/2021 9:09 AM | Margaret Fulton (Administrator)

On Tuesday evening, Santa Monica City Council will vote on an agreement that, if passed, will give the position of Interim City Manager to John Jalili. Under the contract, Jalili, who previously served as Santa Monica’s City Manager from 1984 to 1999, will be paid an hourly rate of $133.81, which equates to an annual salary of $278,332.

Small City Council Applicant Pool Heading into Homestretch

06/22/2021 9:08 AM | Margaret Fulton (Administrator)

Santa Monica may be headed into an expensive City Council special election with only 21 candidates having applied for an open seat less than 24 hours before Tuesday's noon deadline.

Council prepares to approve new biennial budget

06/21/2021 9:31 AM | Margaret Fulton (Administrator)

This budget signifies a marked improvement from staff’s early pandemic predictions, which projected an annual General Fund deficit of $48 million, $102 million and $74 million over the coming years.

You Might Want to Sell That Property After Looking at President Biden's American Families Plan

06/21/2021 9:05 AM | Margaret Fulton (Administrator)

by Wes Wellman

President Biden's American Families Plan contains tax proposals with major implications for IRS Section 1031 like-kind exchanges.

If adopted, they would land the following 1-2 punch:

Limit the cumulative amount of gain to $500,000 an individual ($1 million a married couple) can defer from taxation on the increased value of exchanged investment property;

Assessor’s Office is Foundation for Property Tax System

06/21/2021 9:04 AM | Margaret Fulton (Administrator)

So here is how it works: when you buy a house, you record a deed with the RegistrarRecorder, who then sends my Office a copy of that deed. We then evaluate whether a transfer of ownership has occurred and assess the property accordingly. All of those values are added to the Assessment Roll—the list of all taxable property and their values - which we compile each year and send to the Auditor-Controller, who then applies the relevant tax rate.

Rent Board Annual Adjustment Set to Go Into Effect in September

06/21/2021 8:48 AM | Margaret Fulton (Administrator)

Beginning September 1, Santa Monica rent control tenants will see their monthly rent increase by 1.7 percent after the Rent Control Board approved the latest annual general adjustment last week.

The Board last Thursday also voted to cap the increase at $39 a month for units with a maximum allowable rent of $2,265 or higher.

City Poised to Pump $14 Million Into Water Projects

06/21/2021 8:47 AM | Margaret Fulton (Administrator)

The City Council is poised to take a major step Tuesday towards weaning Santa Monica away from outside water sources by funding two major projects totaling nearly $14 million.

In March, staff reported a funding gap of approximately $53 million for water self-sufficiency projects due to the impacts of the COVID-19 shutdown.

To bridge the gap, the Council on March 23 authorized the City Manager to seek up to $84.5 million in federal credit assistance.

The budget gap came one year after Santa Monica doubled its water rates in an effort to meet its water self-sufficiency goal.

SMa.r.t. Column: Does Increased Density Lead to Increased Affordability?

06/21/2021 8:47 AM | Margaret Fulton (Administrator)

Much of recent debate in Santa Monica has centered around the idea that changing zoning in single-family zones would result in lower-priced housing units. Recent projects, however, suggest the actual situation may be more complex than it seems.

City Council Makes Changes to Draft Housing Element Update

06/18/2021 10:06 AM | Margaret Fulton (Administrator)

“Our City Council has embraced the concept of 100% affordable housing on city-owned land, a concept that can be a foundation for robust affordable housing production for all communities, particularly those with high land costs,” said Mayor Sue Himmelrich. “This Council understands that our community is more diverse because of our leadership in the production of affordable housing, and our direction is intended to help make that possible while also complying with state mandates on housing production overall.”