State Treasurer Fiona Ma Announces $20 Million in Sales Tax Aid for Irvine-Based Biotech Company Edwards Lifesciences

I’m extremely pleased to report that California State Treasurer Fiona Ma has approved up to $20 million in sales tax benefits for Irvine-based biotech company Edwards Lifesciences to upgrade and expand a facility that makes devices to treat cardiovascular disease.

This action will support the retention and creation of 974 production jobs and 90 construction jobs, primarily in Orange County.

The award to Edwards Lifesciences was one of several approved by the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) which is chaired by Treasurer Ma.  CAEATFA works collaboratively with public and private partners to provide innovative and effective financing solutions for California’s industries, assisting in reducing the state’s greenhouse gas emissions by increasing the development and deployment of renewable energy sources, energy efficiency, and advanced transportation and manufacturing technologies to reduce air pollution, conserve energy, and promote economic development and jobs.

Edwards Lifesciences makes transcatheter heart valves, surgical heart valves, and blood flow monitoring devices. In 2011, it made the first aortic value approved in the U.S. that does not require open heart surgery to place inside the patient.

In announcing her decision, Treasurer Ma stated that Irvine’s Edwards Lifesciences is “the kind of company that we need to keep in California. Edwards Lifesciences is saving lives and keeping our state on the cutting edge of technology, and doing all of this while reducing its energy consumption.”

The sales tax benefits will be applied to the purchase of $239 million of production equipment, facility improvement, tooling equipment, lab instruments, computers, and information technology. The upgrade, according to the company, will reduce energy use by 10 percent and trim the amount of hazardous and solid waste produced by the facility.

Edwards Lifesciences employees approximately 5,000 people in Orange County.

I have had the privilege of being friends with California State Treasurer Fiona Ma for many years and have long been a supporter of her approach to business-government relations and her efforts to promote economic development and jobs while also protecting the environment.

I am very happy to see that her policies as Treasurer are having a direct and positive impact on people and businesses here in Orange County.

Transparency Requires the Immediate Release of City Council Candidates’ Applications and the Postponement of Hearings Until the Public Has Had Time to Read Them

Transparency requires the immediate public release of the Irvine City Council candidates’ applications, as well as the postponement of any hearings on the applicants until the public has had time to read them.

The City Council explicitly promised that the application process would be open and transparent.

The Council also stated that the public would have the right to participate meaningfully in the appointment  process.

However, consideration of the candidates by the Council based on applications that are hidden from the public is the very opposite of transparency and openness.

In addition, transparency and openness requires that the public have sufficient time to read and review these applications before any public hearing on appointments.

Therefore, I plan to call upon my colleagues on the City Council to order staff to immediately release the candidates’ applications, and that any hearing be postponed for at least one week to give the public time to read and consider them. 

Irvine Community Land Trust Earns Highest Award for Transparency!

As Chair of the Irvine Community Land Trust, and as a longtime advocate for more affordable housing, I am very pleased to announce that the Irvine Community Land Trust has been awarded the Platinum Seal of Transparency from GuideStar, the world’s most respected source of information on nonprofit organizations.

This award is the highest honor that GuideStar can bestow — an objective and authoritative affirmation of the Irvine Community Land Trust’s dedication to transparency and openness.

In fact, the Irvine Community Land Trust trust goes well beyond what is expected of a typical nonprofit by voluntarily keeping our board meetings open to the public, by making our board agendas and minutes, going back to 2012, available online, as well as by making our financials and tax returns available online for all to see.

Nonprofit organizations like the Irvine Community Land Trust that work to create more affordable housing are often under attack from NIMBY groups.  That’s one of the reasons why I’m so delighted to see that GuideStar, a universally well-respected and objective organization, has officially recognized the commitment to openness of the Irvine Community Land Trust with their highest award for transparency!

You can read more about my work with the Irvine Community Land Trust to create more affordable housing here, herehere and here.

 

Irvine Community Land Trust Featured in Case Study in UC Berkeley’s Affordable Housing Series

As Chair of the Irvine Community Land Trust, and as an Irvine City Councilmember who has made helping to create affordable housing a priority, I am excited that the Land Trust was recently featured in a case study by the Terner Center for Housing Innovation at UC Berkeley, exploring the impact that local efforts can have in improving the state’s housing crisis.

The Terner Center explains that “Cities have an important role to play in addressing California’s affordable housing shortage, and local policies such as community land trusts, reforming impact fees, and reducing barriers to multi-family housing production can all make a significant difference. Made possible by the support of California’s Department of Housing and Community Development, the Terner Center has conducted a series of case studies to explore how action at the local level can help to address the state’s housing shortfall.”

Irvine Community Land Trust Chair Melissa Fox with Affordable Housing Award for ICLT’s Parc Derian

The case study explains that “Homes for sale or rent within a CLT [Community Land Trust} are permanently held below the market cost while also offering the potential for residents to build equity and share in the economic advancement of their neighborhood.

Faced with rising housing costs and a steady decline in affordable homes, Irvine, California created the Irvine Community Land Trust (Irvine CLT) in 2006 to ensure that all new units created using a public subsidy or as a result of the city’s inclusionary housing ordinance would remain affordable in perpetuity.”

It notes that the Land Trust has recently run into greater opposition from some residents who oppose additional housing, noting that “While
initially the Irvine CLT only developed on vacant land without much neighborhood opposition, the CLT reported that they had
begun to experience neighborhood resistance to an infill project.”

In fact, one of the most difficult to overcome obstacles to creating affordable housing throughout California is resistance from the affluent neighbors, which was the subject of a special — and packed — session at the 2019 Housing California Conference I attended this month in Sacramento.

At the Irvine Community Land Trust, we have sought to overcome resistance and generate community support by voluntarily continuing to keep our board meetings open to the public, by making our board agendas and minutes, going back to 2012, available online, as well as by making our financials and tax returns also available online.

You can read the Terner Center Case Study, which is part of its series “Statewide Goals, Local Tools: Case Studies in Affordable Housing Development in California,” here.

You can read more about my work with the Irvine Community Land Trust to create more affordable housing here, here and here.

 

California State Treasurer Fiona Ma Presents Free Small Business Seminar!

Join California State Treasurer Fiona Ma along with state, county, and local elected officials at her inaugural free small business seminar!

The seminar will be presented on Friday, April 5, 2019, from 9:30 a.m. to 12:30 p.m. Check-in begins at 9:00 a.m.

The location is Rowland Unified Board Room, 1830 Nogales St., Rowland Heights, CA 91748.

This seminar is FREE and will feature speakers from CalCAP, CalSavers, California Franchise Tax Board, GO-Biz, and Small Business Majority to share information and resources with small business owners to help them comply with regulations and grow their business.

Seminar sponsors include California State Treasurer Fiona Ma, US Representative Gil Cesneros, State Senator Ling Ling Chang, State Assemblyman Philip Chen, L.A. County Supervisor Janice Hahn, and L.A. County Assessor Jeffrey Prang.

Topics will include access to capital, small business loans, forms of ownership, retirement programs, and more!

Space is limited, so please RSVP at http://bit.ly/SGVSBS2019 or by calling (916) 653-2995.

See the Facebook Event Page here.

Irvine Releases Proposed 2019-2021 Budget. Tell Us What You Think!

The City of Irvine has released a proposed budget for FY 2019-2021.

Tell us what you think!

I ran for City Council on a platform of using my skills as a business attorney to safeguard every public dollar, and I have kept that promise by making sure that Irvine is financially transparent and accountable, and doesn’t spend more than it can afford.

Government transparency and fiscal responsibility should be neither a conservative nor a liberal idea, but appeal to both, as we strive to address increasing social needs with limited resources.

I am proud to have received the Orange County Taxpayers Watchdog Award from Orange County Auditor-Controller Eric H. Woollery, along with Mayor Don Wagner and Councilmember Christina Shea.

I am proud that during my tenure on the Irvine City Council, Irvine has received numerous awards for fiscal responsibility and transparency. These awards reflect the commitment that I and my colleagues on the Irvine City Council have made to the taxpayers and residents of Irvine, and to the principles of government transparency and fiscal responsibility.

I am also proud that during my term in office, Irvine has adopted the Irvine Sunshine Ordinance that expands public notice to four times longer than California law requires, and has approved a two-year budget cycle, along with a five-year financial planning program. These changes make planning more transparent, give residents more opportunity for input into budget and planning, and make city government more accountable.

The City of Irvine has now released its proposed budget for Fiscal Year 2019-2021.

Prior to proposing a budget for FY 2019-2021, the City hosted four Community Budget Meetings in March. These meetings were the City’s first-ever attempt at both informing constituents about the state of its finances and seeking input on spending priorities before the budget proposal was finalized.

Strategic priorities addressed in the proposed budget include: maintaining high-quality essential City services, enhancing Citywide mobility through transportation improvements, promoting innovation through effective use of Information Technology solutions, and recruiting and retaining high-quality employees.

Next in the process, the budget will be presented to the Finance Commission in April 2019.  These meetings are open to the public and your continued input in the form of public comment is welcome.

My appointee to the Finance Commission is Roger Sievers. Roger is a long-time corporate CFO/VP/Controller with a master’s degree in finance from Stanford University who cares deeply about ensuring both Irvine’s financial health and our quality of life.  He would love to hear from you about the proposed FY 2019-2012 budget. He can be reached at rsievers@cityofirvine.org.

Following Finance Commission input, the proposed two-year budget and five-year plan will be presented to the City Council for approval in May.

For more information about the budget process, and to access the Fiscal Year 2019-21 Proposed Budget, visit cityofirvine.org/budget.

You can also contact the City of Irvine’s Financial Management & Strategic Planning Department at 949-724-6255.

The City of Irvine’s Budget Will Not Include Cuts to Irvine Schools

Recently, City of Irvine staff proposed that, due to a projected budget shortfall, the City should consider cutting its support for Irvine’s public schools and reduce its spending on public safety.

I strongly opposed these cuts.

While I am concerned about the City’s fiscal health and our budget — a topic I will address soon in a future blog post — I do not believe that it is in the best interests of Irvine’s residents to curtail our support for education and public safety.

Due to my opposition and that of other City Council Members, as well as conversations between myself and Irvine Unified School District Board Members, and IUSD and City staff, reductions to school funding will no longer be proposed for the upcoming City budget.

Here is the official announcement:

“A special message about the City of Irvine’s $80 million in cash grants and program support for Irvine schools since 2008.

The City of Irvine has proudly provided cash grants to benefit Irvine schools and students for 13 years. The City uses vehicles such as the Educational Partnership Fund (EPF) program, established in 2006, and the Challenge Match Grant Program, created in 2008, to facilitate support.

From 2006 through June 2019, the City has provided $32 million in direct cash grants benefiting Irvine schools. The City is continuing to commit another $4 million annually for the next two fiscal years, for a total cash contribution of $40 million to benefit Irvine schools.

Beyond cash support, the City provides over $10 million annually in direct and indirect services to Irvine schools and students. The City of Irvine has provided over $80 million in direct and indirect support benefiting Irvine schools since 2008.

Indirect programs include school resource officers at middle and high schools; D.A.R.E. instruction so that elementary school students refrain from drug use and bullying and practice responsible internet use; crossing guards; middle school and high school youth action teams; and joint field and pool use. The two Partnership for Educational Excellence Programs grew from $1.5 million per year to $4 million per year in direct cash grants. The City Council established this funding because schools are a priority; voters affirmed it, and the Irvine City Council continued this unique funding tradition after the voter measures expired in 2016.

The City remains committed to supporting Irvine schools. The City is also committed to its long-term financial planning, transitioning to a two-year budget and a five-year financial plan. The City’s financial condition shows a structural deficit. The executive management team values transparent discussions early in the budget planning cycle. This includes open dialogue at community meetings, in order to facilitate a proposed balanced budget that meets many needs. City executive management proposed a host of changes and reductions to address the shortfall, including a possible reduction to some of the $10 million in annual support to Irvine schools in order to ensure adequate City and Police services.

While reductions to school funding will no longer be proposed for the upcoming budget, we need to work together to find constructive approaches. The City faces leaner times. We want to ensure our support for Public Safety, which is a top priority for the Council and the community, is not jeopardized. Mutual cooperation and productive communication is critical for effective long-term financial planning that balances community priorities and the City’s budget.”

Thank you to the many Irvine residents and IUSD Board Members who reached out to me and other members of the City Council opposing these cuts.

Our voices have been heard.