SACRAMENTO, Calif., Aug. 30 -- The California State Assembly Democratic Caucus issued the following news release:
AB 2181 Prevents Speculative Density Bonus Assumptions from Inflating Hotel and Motel Ground Lease Costs
SACRAMENTO, CA - Democratic Caucus Chair and Assemblymember Rick Chavez Zbur's (D-Hollywood) AB 2181, legislation to protect hospitality jobs by ensuring property valuations for hotels and motels reflect realistic development conditions rather than speculative development scenarios, has passed the California State Senate and received final concurrence in the Assembly and now heads to the Governor's desk. Sponsored by UNITE HERE International and UNITE HERE Local 11, AB 2181 provides a narrow clarification to California law ...