BOE Will Accepts Cash Payments from Medical Marijuana Businesses
LOS ANGELES — On July 15, the California State Board of Equalization decided to begin accepting tax liabilities in cash from medical marijuana distributors, whether they are legitimate or wishing to become legitimate.
Medical marijuana business owners will simply secure seller’s permit from the Board of Equalization and submit a written request.
The BOE will help medical marijuana businesses pay their tax liability by helping them register their fictitious name and accepting personal checks as payment for their tax liability. Sellers, and others with permits, can contact their nearest field office to make arrangements.
There will be two events hosted in Los Angeles by Chairman Jerome Horton to promote compliance with this new decision: the Medical Cannabis Telephone Town Hall and a Medical Cannabis Business Seminar. The Medical Cannabis Telephone Town Hall will take place from 3 to 4 p.m. Aug. 18. The event will provide a brief overview of state and federal requirements and links to government agencies frequently asked questions. The Medical Cannabis Business seminar will take place from 1 to 3 p.m. Sept. 9. It will explain how to complete the registration with various government agencies.
Details (888) 847-9652; www.boe.ca.gov/horton
LB Mayor Garcia Marks One-Year Anniversary
LONG BEACH — Mayor Robert Garcia celebrated his first year as mayor of Long Beach on July 15.
During a press conference the mayor released several figures focusing on his accomplishments of the past year.
Garcia pointed to the lowest unemployment rate since before the 2008 recession; a balanced budget; hundreds of millions of dollars in new investment, including new manufacturing, market rate residential units, and nationally known retail brands; the renaissance of downtown; an improved, more collaborative relationship with the Port of Long Beach; vigorous attention to public works issues like potholes and graffiti; the creation of 400 new preschool spots; more than $8 million invested in new park projects; a brand new city website; successful water conservation efforts; reduced homelessness; and 116 new city commissioners.
Garcia touted increasing employment, the arrival of Virgin Galactic and Shimadzu at Douglas Park, the investment of more than $65 million at the Pike and the entry of Nike, the Gap, Forever 21 and H&M into that location. He also pointed to the increased volume at the port, which is approaching pre-recession levels; record tourist visits creating more than $300 million in economic activity; and Long Beach’s Innovation Team, which is funded by a $3 million grant from Bloomberg Philanthropies.
“When we needed a new home for our LauncherOne small satellite launch vehicle program, we went looking for somewhere with a great pool of local talent and an excellent history of aerospace innovation,” said Steve Isakowitz, the president of Virgin Galactic. “Since moving in to our new facility in Douglas Park a few months ago, we’ve been incredibly pleased with the warm welcome we’ve received from the mayor’s office, from other community leaders, and from the local workforce. Our building is quickly filling up with talented and experienced workers who are happy to call Long Beach home.”
Garcia also announced that the city had seen more than 5,600 new jobs and more than 2,200 new businesses open, as well as more than 2,500 residential units completed or under construction.
He said that more than 400 new preschool slots have been created, with another 400 expected in the coming months. He also pointed to more than $5.5 million raised to support internships, a critical piece of the Long Beach College Promise. The city became a full partner in the Promise this past year and preschool was added to the work of the program.
Garcia also pointed to a soon-to-be launched Open Data initiative, the appointment of 116 commissioners, and the creation of two new commissions and the new Technology and Innovation Department.
Garcia announced that 301 previously homeless veterans had been provided permanent housing, and pointed to the 16 percent drop in water use, the new pedestrian beach path and the use of the Go Long Beach smart phone application.
New Economic Development Progress for LB District 8
Twelve “for sale” properties in District 8 that were owned by the city’s former Redevelopment Agency have received offers from prospective buyers that will be considered by the Long Beach Successor Agency to the Redevelopment Agency at its July 21 meeting.
Among the pending transactions, Lab Holding LLC has made offers for all nine properties that are for sale in the 5500 block and the 5600-5700 block of Atlantic Avenue, known as the North Village.
If these sales are approved by the Successor Agency, which consists of the nine council members, the transactions must then be approved by the Oversight Board to the Successor Agency and reviewed by the California Department of Finance before entering escrow.
The properties on Atlantic Avenue include the current location of the Eighth District Field Office at 5641 Atlantic Avenue. The Eighth District will be moving its field office to the Expo Arts Center at 4321 Atlantic Avenue in the coming months.
A complete list of the Eighth District “for sale” properties includes:
306 E. Home Street – This is a vacant parcel at Locust St. that is zoned for residential. The prospective buyers are Cherry South, LLC and MYK Properties, LLC for $198,500.
5365 and 5371 Long Beach Blvd. – These are empty storefronts in the Virginia Village commercial corridor. The prospective buyers are Brett and Mary Walker for $225,000 for 5365 Long Beach Blvd. and $175,000 for 5371 Long Beach Blvd.
5368-5372 Long Beach Blvd. – This property includes the commercial building and adjacent paseo in the Virginia Village commercial corridor. The prospective buyer is Robert J. Younger dba The Younger Law Firm for $280,000.
The Lab Holdings, LLC is proposing to purchase the following properties: 5564 Atlantic, 5616-5618 Atlantic, 5640-5648 Atlantic, 5641-5643 Atlantic, 5645 Atlantic, 5647-5649 Atlantic, 5661 Atlantic, 5701 Atlantic and 5708-5710 Atlantic.
Upon completion of the sales, the escrow and closing fees, commission and administrative costs will be deducted. The county will then distribute the net proceeds to the affected taxing agencies, with the City receiving approximately a 21 percent share.
To view the entire agenda for the Successor Agency meeting, click here.
Port of Los Angeles Container Volumes Slip in June
SAN PEDRO — June 2015 containerized cargo volumes at the Port of Los Angeles decreased 2 percent compared to the same period this past year.
The port handled a total of 721,802 Twenty-Foot Equivalent Units (TEUs) in June 2015. Current and historical data is available here.
Imports decreased 3.65 percent, from 382,666 Twenty-Foot Equivalent Units (TEUs) in June 2014 to 368,708 TEUs in June 2015. Exports declined 10.7 percent, from 160,823 TEUs in June 2014 to 143,549 TEUs in June 2015. Combined, total loaded imports and exports decreased 5.75 percent, from 543,489 TEUs in June 2014 to 512,257 TEUs in June 2015. Factoring in empties, which increased 8.6 percent, overall June 2015 volumes (721,802 TEUs) decreased 1.99 percent.
For the first six months of 2015, overall volumes (3,903,521 TEUs) are down 3.67 percent compared to the same period in 2014.
Data container counts for the Port of Los Angeles may be found at:http://www.portoflosangeles.org/maritime/stats.asp