SCV Business Journal February 2024 by Signal

SANTA CL A R I TA VA L L E Y

BUSINESS O F F I CI A L P U B L ICAT IO N O F TH E SCV CH AM BER OF C OM M ER CE

J O U R N AL

FEBRUARY 2024 VOL 16 • No 2 SIGNALSCV.COM/BUSINESS

C. RAY CARLSON — ADVOCATING FOR YOU Santa Clarita Stock Index Keller Butler Econowatch and More!

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F E B R UA RY 2024

Thursday, April 18 | 5:30 pm A cancer diagnosis can be confusing and overwhelming. At this event, UCLA Health experts will demystify all things cancer for patients and their loved ones, sharing information about what a cancer diagnosis means, as well as details about the world-class treatment options available at UCLA Health Santa Clarita.

Introduction and Overview:

UCLA Health Santa Clarita-based Panelists:

Presented by UCLA Health hematologist oncologist Alexander Black, MD

• Alexander Black, MD | Hematology Oncology

Keynote Speaker: Dennis Slamon, MD, PhD World-renowned UCLA Health oncologist, cancer researcher and developer of Herceptin, the “drug that changed the breast cancer treatment landscape.”

Thursday, April 18, 2024 | 5:30 pm Location: Santa Clarita Performing Arts Center at College of the Canyons 26455 Rockwell Canyon Rd. | Santa Clarita, CA 91355 Scan or visit uclahealth.org/events/demystifying-cancer to learn more.

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F E B R UA RY 2024

C O N T E N T S NEWS & FEATURES

8 A LAND DEAL IS EXPECTED TO CREATE CHANGE ON TOURNEY ROAD

7 8 9 11 10 10 12 13 13 14 18 18 19 22

C. Ray Carlson: Advocacy and the Law Developing Stories Henry Mayo Shares Important Reminder UCLA Health Has You Covered The Realtor’s Report The SCV’s Priciest Listing Poole & Shaffery: Building a Strong Future A Look at the Legal Landscape Law Office of George Almodovar SCV Water Launches Local Business Program Econowatch COC: 100% Placement of UAA Graduates The List: The Largest Law Firms The Santa Clarita Stock Index

FROM THE EXPERTS 6 Ken Keller: Importance of Teaching Your Team 16 Paul Butler: Common Sense Rules 20 Jeff Prang: Benefits of Historic Preservation

10 PARADISE RANCH ON THE MARKET FOR $5.75M

SCV BUSINESS VOICES 5 7 15

Henry Mayo Audiology Associates SCV EDC

February 2024 | Vol. 16 | No. 2

PUBLISHER

Richard Budman rbudman@signalscv.com (661) 287-5501

18 COC TOUTS JOB-PLACEMENT SUCCESS

BUSINESS JOURNAL EDITOR Perry Smith

SALES REPRESENTATIVES Maureen Daniels Jennifer Ramos Barbara Ward

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SINCE 1919

SignalSCV. com

19 JOHN SHAFFERY LEADS THE SCV’S LARGEST FIRM

Santa Clarita Valley Business Journal (a Signal publication), © 2024, is published monthly by the Santa Clarita Valley Signal newspaper, Paladin Multi-Media Group, Inc., 25060 Avenue Stanford, Ste 141, Valencia, CA 91355. The SCV Business Journal is intended to provide business executives with a cross-section of industry news and information, trends and statistics that impact our growing community. Information gathered in the pages of the SCV Business Journal has been collected from what are considered reliable sources, and is believed to be accurate, but cannot be guaranteed. Articles may not be reprinted without publisher’s written permission. For reprint requests, please call (661) 259-1234.

F E B R UA RY 2024

Managing Your Weight as You Age PATRICK MOODY

Henry Mayo Newhall Hospital

ake steps now to help keep your weight in a healthy range for years to come Planning for the future is just as important when you’re 50 as it was when you were 18. To stay physically fit and in good health as you get older, it’s smart to manage your weight now. People’s weight often creeps up on them as they grow older. One reason is that you may be burning fewer calories in older age, especially if you are not very physically active. If you want to prevent weight gain, you’ll need to eat fewer calories and continue — or start — a regular exercise routine. FIND OUT YOUR HEALTHY WEIGHT The first step toward maintaining a healthy weight in older age is to find out what a healthy weight is for you. Ask your doctor about your body mass index (BMI). BMI uses your height and weight to calculate your body fat. Your doctor can measure your BMI to find out where your weight falls on a scale of normal, overweight or obese. Measure your waist. A waist measurement of more than 35 inches for women or 40 inches for men is unhealthy and puts you at risk for a number of health problems, according to the National Institutes of Health (NIH). WHY DOES WEIGHT MATTER? Being overweight can have a variety of harmful health effects. For example, being overweight or obese may increase your risk for: Heart disease.

High blood pressure. Type 2 diabetes. MANAGING YOUR WEIGHT THROUGH THE YEARS Keeping a healthy weight isn’t a short-term project. To ensure that your weight stays in a healthy range in the years to come, you’ll need to make the following healthy lifestyle choices a permanent part of your life: EAT WELL Although you may need fewer calories as you age, you still need to eat a well-balanced, nutritious diet. Focus on foods that are rich in nutrients, such as:

A wide range of fruits and vegetables. Whole grains. Fat-free or low-fat milk and dairy products. Fish, lean meats, poultry and eggs. Beans, nuts and seeds. Think about the activities you enjoy and do more of them, such as:

Walking Running

SCV BUSINESS VOICES Bicycling Gardening Swimming Your goal is to get 150 minutes of physical activity every week, or 30 minutes on most days of the week. If that still sounds daunting, you can reach your goal by exercising in 10-minute bursts. Be sure to consult your doctor before embarking on a new exercise routine. 

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F E B R UA RY 2024

Business Leaders Should Add Teacher to Skillset BY KEN KELLER

SCVBJ Contributing Writer

grew up an Oakland Raiders fan. When I first got hooked, the head coach was John Madden. He was an unleashed bundle of atomic energy on the sidelines, and it seemed every game had a fantastic finish. It was entertaining, with crazy emotional ups and downs. Recently, I was channel surfing and stumbled on an interview Madden had done a few years back. At the end, he summed up his entire career as a “teacher.” He elaborated by explaining that every stage of his career he was in a role that required him to share his knowledge. He earned a teaching credential, put it to use as an assistant and then head coach at the junior college level, an instructor at UC Berkeley, as an assistant coach and shortly thereafter head coach of the Raiders, as a TV color commentator and as a key contributor to the popular game Madden NFL. I see your role, your responsibility, the same as Madden’s. I am not sure what your title might be: owner, general manager, CEO; it does not matter. You need to add teacher. You probably think you do not have the time. I believe you must make an investment of your time to have a better business with better results. You may push back, “I don’t have the patience to teach people.” Consider hiring someone with patience. But understand that you will need to instruct the person who you have training your team members. I recommend cutting out the intermediary. I have had clients through the years who shared, “For what I am paying these people, they should already know what to do!” Really? We pay our presidents $400,000 a year; do you think anyone of those men knew how to do the job when they took the oath of office? They did not; they knew only what they wanted to do. Each learned on the job. You do not have to be Yoda, although I am certain that your people come to you

with every possible issue. It is fine not to know the all the answers because successful teaching requires your ongoing learning. If your people see you learning and growing, they will soon understand that they need to learn too. “What should I teach my people?” you ask. Having worked with hundreds of small and medium-sized companies, I am going to suggest several topics to get you off to a strong start. First, to be a winner, and lead a winning team, you need to define what winning is. You may set financial metrics, or it might be you want to achieve a volume number like client count. But what you need is to define winning for both you and the team. What is your version of winning the Super Bowl, the World Series or the NBA championship? Because this is something that people can relate to, and most importantly, it is visible and progress is measurable. Second, you must instruct and maintain your desired work ethic. Because you own a business, I am willing to bet, sight unseen, that you were working when you were in high school, maybe even before. You learned being on time means arriving early. You learned how to work, safely, to positively contribute and not to goof off or waste time. You learned how to work in a team, take direction, to make meaningful suggestions to improve things. You did not quit before quitting time. Third, you must always lead by example. Most owners do not realize that they are constantly under a microscope and that everything said and done is seen, discussed, analyzed, and evaluated by your employees. Next, you must make time to “inspect what you expect.” If you don’t reinforce what you want, people will soon fall back

to the habits you wanted to move away from. Fifth, your company needs a short mission statement. This works to keep individuals and the team focused. Mission statements set the tone and the direction. If you have a mission statement, review it to make sure that is succinct and easy to remember. If you do not have a mission statement, now is the time to create one. My mission is “To facilitate success in business and life.” There are three mission statements to consider emulating when creating yours. The first is from the Los Angeles City Police Department: “To Protect and Serve.” The second was used during the Mercury, Gemini and Apollo space programs: “To the moon and back.” The third is President Lincoln’s mission “To preserve the Union.” Finally, having engaged employees is essential. In the book First, Break All the Rules, the Gallup Organization shared questions you can use to measure engagement by regularly asking your employees: Do you know what is expected of you at work? Do you have the materials and equipment that you need in order to do your work right? At work, do you have the opportunity to do what you do best every day? In the past seven days, have you received recognition or praise for doing good work? Does someone here, at work, seem to care about you as a person? Is there someone here at the company who encourages your development? See KELLER, page 16

F E B R UA RY 2024

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The Intersection of Legal Excellence and Compassionate Advocacy A Comprehensive Exploration of The Law Offices of C. Ray Carlson

n the vast expanse of the legal domain, where expertise often overshadows empathy, locating a law firm that seamlessly combines legal prowess with genuine compassion can be difficult. However, nestled in the heart of Santa Clarita, The Law Offices of C. Ray Carlson emerges as a beacon of hope for individuals seeking not just legal representation but also unwavering support during their most challenging times. Led by the seasoned legal veteran, C. Ray Carlson, and bolstered by esteemed senior partners Jennifer Smith and Chad Carlson, this firm has carved a niche for itself as a trusted ally for those who have suffered personal injuries. With over four decades of experience, The Law Offices of C. Ray Carlson sets the gold standard for commitment in delivering high-quality legal services with a deeply personal touch.

The Essence of Compassionate Advocacy

Personal injury cases are often fraught with emotional turmoil, as individuals grapple with the aftermath of accidents, negligence, or wrongful acts. What drives The Law Offices of C. Ray Carlson is their unwavering advocacy on behalf of these individuals. Armed with a wealth of experience and legal acumen, the team adeptly navigates even the most complex personal injury claims, allowing their clients to focus on their journey to recovery while the legal intricacies are expertly managed. What truly sets this law firm apart is its unwavering commitment to client welfare. Open communication is not merely a buzzword here; it’s a guiding principle. Clients laud the team’s ability to keep them informed every step of the way, instilling confidence and offering much-needed support during times

of adversity. It is this personalized and compassionate approach that has not only garnered the firm a stellar reputation but also forged enduring bonds of trust with its clientele.

A Multifaceted Approach to Personal Injury Cases

In the realm of personal injury cases, The Law Offices of C. Ray Carlson is fully equipped to handle all claims, no matter the scope or challenge. From motor vehicle accidents to dog bites, motorcycle accidents, and product liability claims, they handle a diverse array of issues with equal fervor. Meticulous investigation, evidence collection, and the formulation of robust legal strategies are the hallmarks of their approach, ensuring that clients are well-equipped to confront insurance companies and liable parties head-on. See CARLSON, page 21

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F E B R UA RY 2024

New Plans, Big Purchase Kept Under Wraps DEVELOPING STORIES

BY PERRY SMITH

SCV Business Journal Editor

s Santa Clarita Mayor Cameron Smyth pointed out at a luncheon with a group of business leaders, while the city has grown a tremendous amount over the last nearly 40 years, it continues to develop and add new features every year. And 2024 looks to be no different. A roller rink, a homeless shelter and another park — to keep up the city’s average of one a year in its 37-year history, Smyth said, are just a few of the exciting plans that are already well under way at City Hall, but that’s just what the city is planning. There’s also been a lot of excitement about the anticipated private investment that’s coming with the city’s recent notice of its Town Center Specific Plan. The city described the plan as what residents have indicated to city planners that they would like to see if the mall were to be renovated. Centennial, a Dallas-based developer with a coast-to-coast portfolio, intends to do just that after announcing its purchase of the Valencia Town Center in September and working with the city — according to accounts from both sides — on a plan for what the future of the 111acre property might look like. The city has said the TCSP stretches west on Valencia Boulevard from its intersection with McBean Parkway to Magic Mountain Parkway, and bordered on the north by Magic Mountain Parkway heading east until it intersects with McBean again. One of the more intriguing developments in recent weeks has been a major acquisition of space by Kaiser Permanente Health Foundation, which is affiliated with the national health care provider. A regional representative for Kaiser Permanente said there’s no announcement available, and city officials confirmed there’re no plans submitted for the property at 27027 Tourney Road, which was the address acquired. However, the purchase makes a lot

Signage remains up from Quest Diagnostics, but no plans have been filed for the Tourney Road building. PHOTO BY KATHERINE QUEZADA/THE SIGNAL

of sense for the care provider. It’s not only alongside many medical, dental and optometry-related facilities, but also next to a couple of existing Kaiser Permanente medical office buildings. KP, the nation’s largest health care delivery system, is approaching 35 years in the Santa Clarita Valley. The 223,000-square-foot building was previously owned by Global Net Lease, according to a Real Deal report, and it had been empty since last year, when Quest failed to renew its lease. It sold for $67 million, a 30% discount over its last sale price, according to outlet therealdeal.com. Also coming up at various points in 2024 on the Santa Clarita’s Planning Commission agenda are a pair of important projects. The Wiley Canyon Project is expected to come to the Planning Commission for review, including an environmental impact review, during the body’s March meeting. It’s expected to take place on the third Tuesday of the month, with an EIR expected soon to provide a 45-day review period. The project is also known by longtime SCV residents as the former Smiser mule ranch. The site is just east of Interstate 5 and west of Wiley Canyon Road, between Hawkbryn Avenue and Calgrove Boulevard. “The proposed project consists of a four-story senior living facility including

130 independent living units, 61 assisted living units and 26 memory care beds, 8,914 square feet of commercial floor area, 379 apartment units and publicly accessible outdoor recreational field space,” according to the state’s California Environmental Quality Act website, ceqanet.opr.ca.gov. “The project would include up to 65,000 cubic yards of cut and 77,000 cubic yards of fill, including 500,000 cubic yards of over-excavation and the import of approximately 62,000 cubic yards of fill.” The Planning Commission is expected to hold one meeting a month through its summer recess to address pending plans. Another significant plan that’s been brought to city officials in the planning office more than once is the Sand Canyon renovations proposed by Sand Canyon Country Club owner Steve Kim. Kim has been trying for years to turn his property into what he describes as a five-star world-class resort. He has received significant push-back from some local groups and City Hall, which he briefly sued over the matter a few years back. Last year, city officials noted the project was essentially starting over through its review process. It has not yet been identified by planners as having a date on the city’s agenda. 

F E B R UA RY 2024

SCV BUSINESS VOICES

The Importance of Encouraging People to Use Hearing Aids DR. KEVIN BOLDER

AuD, Audiology Associates

egular use of hearing aids is associated with decreased death rates in U.S. adults with hearing loss, a new study out of USC found. The findings highlight the importance of encouraging people to use hearing aids and of ensuring everyone who needs hearing aids can get them, according to the study’s authors. “Hearing is so important for just maintaining health across our life course,” said Dr. Frank Lin, director of the Cochlear Center for Hearing and Public Health at Johns Hopkins and an author on the study. The World Health Organization estimates that by 2050, 7 million people — 1 out of every 14 people — will have hearing loss severe enough to require treatment. The most common causes of hearing loss are exposure to loud noises

and natural aging-related degeneration, both of which affect the inner hair cells of the ear, according to the CDC. Everyone will develop some degree of hearing loss during their life, said Lin. «It›s inevitable. Previous studies have linked hearing loss and social isolation, which can increase risk for heart disease, dementia and depression. The study was not able to examine these specific medical conditions, but is the first large study to investigate whether hearing aid use, as an intervention for hearing loss, could prevent death. Regular hearing aid users tended to belong to a higher socioeconomic class, self-identify as white and have fewer medical conditions, the study found. Cost can be prohibitive, as one pair can cost as much as $4,500 and needs to be replaced every few years, said Lin. While some private insurers cover hearing aids, Medicaid coverage varies by state and most Medicare plans do not cover hearing aids at all. “This type of hearing care is essentially all out of pocket. For an average American, it could

be your third-largest material purchase after a house and a car,” he said. In some cases, primary care physicians may not be recommending enough patients to go see a hearing specialist, according to Dr. Doug Backous, president of the American Academy of Otolaryngology-Head and Neck Surgery. “It’s probably the most underscreened symptom in a primary care office,” he said. On top of that, there remains a lot of stigma around using hearing aids. “A lot of people come to me with hearing loss and communication difficulties but they’re not willing to try hearing aids, they’ll say, ‘I don’t think I’m there yet’ or ‘I don’t want to look old! To schedule a hearing aid consultation today, please call Audiology Associates at 661-2841900. Kevin Bolder, Au.D and John Davis, Au.D. are two of the best in Santa Clarita and San Fernando Valley. Visit our website at www. AudiologyAssociates.net or stop by our office located at 25425 Orchard Village Road, Suite 220, Santa Clarita, CA 91355. We are hearing healthcare excellence! 

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F E B R UA RY 2024

SCV Homes Moved Quickly in December BY PERRY SMITH

SCV Business Journal Editor

he Santa Clarita Valley real estate market reflected the same kind of “stability and opportunity” in the latest data that Realtors praise regularly in local reports on recent transactions. The Southland Regional Association of Realtors’ “Market trends” data for the month of December 2023 contained 124 new listings, which is 14 fewer than the same time period in 2022, according to the experts’ data. It was 72 fewer than the previous month, but Realtors haven’t expressed a lot of concern about a possible supply problem just yet. That might be because despite the low supply — even in times when interest rates are less than favorable as they are now — homes are moving faster than ever. It doesn’t hurt that the SCV is traditionally a very desirable area with great schools and work opportunities. In the most recent figures, the average

time a home stayed on the market was just 33 days, which represents three days fewer than the previous month and nine days fewer than the same month a year ago. For a matter of context, five years ago, the average time on the market in 2018 was 48 days. And the volume of sales has remained consistent, which is another sign of the market’s stability. The number of new escrows closed for December, the most recent data available, indicated that 161 new escrows closed that month, compared to 174 the previous month, and 177 for December 2022. The Realtors’ organization culls data from a number of listing services and releases the data in real time on its website, SRAR.org, to present a snapshot of the marketplace each month for the area. The volume is down slightly from what was seen during the pandemic, when 382 new escrows closed in December 2021 and 482 in December 2020. A more typical December, which indicated by 2018, when there were 239 new escrows closed, and 2019 figures

The value for single-family homes in the local market still remains evident in the prices in compared to the rest of the region, which is reflected in a look at the California Association of Realtors data, which tracks numbers on a statewide basis. The CAR data indicates that statewide in December, the average price of singlefamily homes sold throughout California is $819,000, and for condos that price is $635,000, compared to $770,500 and $587,000, respectively, for the same month in 2022. For the SCV in the month of December 2023, the average list price was $1.022 million for houses and condos, while the average volume of homes sold is almost $784,000. For single-family homes, the figure is closer to $1.14 million. And those homes only stayed on the market for 31 days. “In general, I would say that we’re relatively optimistic that things will improve,” according to Jrodan Levine, senior See REAL ESTATE, page 19

A Place Called Paradise North of Santa Clarita BY PERRY SMITH

SCV Business Journal Editor

nline reports indicate the Santa Clarita Valley real estate market’s biggest-ticket item this month is a rural property listed for $5.75 million on Golden State Highway. The Paradise Ranch listing on Zillow for 36059 Golden State Highway, which is represented by Mary Mathews of Sotheby’s International Realty, includes 9 bedrooms and five full bathrooms, according to the online posting. The home on the property was built in 1910, according to property records available at the L.A. County Assessor’s Office, which reports how the property has grown to its current size of more than 10,000 square feet. It started as a 910-square-foot home more than 112 years ago, then added 3,300 feet, a pair of 2,000-plus-squarefoot additions, then another 1,700 square feet in 1973.

Paradise Ranch was once owned by a Walt Disney composer who scored some of the animator’s most well-known classics. Courtesy ZILLOW

A listing for the property cites its potential, its proximity to nature and its history in television and film as a few of the unique selling points of the land. “Consisting of approximately 75 acres with three separate dwellings, huge utility spaces and horse training facilities, this historically significant ranch boasts endless opportunities for a new owner,” the Zillow listing states. “Paradise Ranch has been the location for numerous film

and commercial productions over the decades, including ‘Sons of Anarchy,’ ‘Criminal Minds,’ ‘1000 Ways to Die’ and Allstate Insurance commercials, among many other projects.” The ad also cites the large equestrian property’s relatively level terrain, which includes two seasonal creeks and an abundance of wildlife and trees, as part of the property’s curb appeal. In addition to being a host to part of Hollywood history, it also was home to a luminary in animated film. It’s well known that Walt Disney had multiple properties in the area, and California Institute of the Arts was the result of his vision for an arts school. Well, some of his employees apparently lived up here, too. “One significant owner of the ranch was Frank Churchill, Walt Disney’s musical composer, who scored over 65 films, including ‘Snow White,’ ‘Dumbo’ and ‘Bambi.’ 

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F E B R UA RY 2024

UCLA Health Has You Covered in Santa Clarita

anked No. 1 in California for cancer care in U.S. News & World Report’s latest Best Hospitals assessment, UCLA Health offers world-class hematology oncology, radiation oncology, surgical oncology, interventional imaging care, transfusions, access to clinical trials and cancer genetics — plus a full-range of wrap-around supportive services through the Simms/Mann — UCLA Center for Integrative Oncology — right in the region. “As a member of the Santa Clarita community, I can truly say that you are getting the world’s most cutting-edge, innovative care with the same kind of diligence that you’d get at any academic center,” says Nimit Sudan, MD, a UCLA

Health hematologist oncologist who practices in Santa Clarita and Encino. “Everybody is right here, and it’s amazing.”Oncologists at the UCLA Health Santa Clarita cancer care clinics are part of the UCLA Jonsson Comprehensive Cancer Center, based on the main UCLA Health campus in Westwood. “Think of the UCLA Health Santa Clarita Valley clinics as tree branches and UCLA Health’s main campus as the larger tree — both are intimately connected, and every patient in Santa Clarita has access to the same findings from research studies, clinical trials and cutting-edge therapies available in Westwood

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ATTENTION LOCAL BUSINESSES

Call WaterWise* at 888-987-9473 to schedule a survey.

SCV Water is offering a FREE water-use efficiency check-up! R CHAMP

Wa•ter Cham•pi•on. Someone who enthusiastically supports and prioritizes water use efficiency now so that we have a reliable supply for generations to come; an advocate.

A water expert can visit your business to: • Check for toilet leaks and install new flappers as needed • Install new high efficiency bathroom and kitchen aerators, and pre-rinse spray valves • Provide a push broom for cleaning up the exterior of your business • Provide information on available SCV Water rebates and incentive programs

For more information, contact our Conservation department at 661-513-1216 or email conservation@scvwa.org To learn more, visit yourSCVwater.com/waterchampions

• Supply EPA WaterSense training materials on methods to conserve water at your business Upon completion of the check-up, participants will be provided with a Water Champion decal to display in the front window of their business.

*WaterWise Consulting, LLC is a conservation consultant contracted by SCV Water and are professional representatives trained in water efficiency.

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Building a Strong Future: Why Every Business Owner Needs a Succession Plan BY JASON R. BEAMAN, ESQ. Poole & Shaffery

n the fastpaced world of business, where each day brings new challenges and triumphs, it’s easy for business owners to get caught up in the present without thinking too much about the future. However, there’s one aspect that demands attention but often gets pushed to the back burner: business succession planning. As an entrepreneur, you have invested years of your life building your business.

But what happens if, for unforeseen reasons, you’re suddenly unable to lead the business? Business succession planning can ensure the stability of your business, protecting the livelihoods of your employees, and preserving the relationships you’ve built with clients over the years. 1. Identify and Develop Talent Internally Succession planning starts by identifying potential leaders within your organization. This involves assessing the skills, strengths, and potential of current employees. Cultivate a culture of mentorship and skill development, providing opportunities for promising individuals to take on

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leadership roles gradually. 2. Create a Comprehensive Documentation System Critical to any succession plan is a comprehensive documentation system. Ensure that key processes, contacts, and information are well-documented and easily accessible. This not only aids in the smooth transition of responsibilities but also serves as a knowledge transfer tool. Consider creating a manual or handbook that encapsulates the ethos and operational intricacies of your business. 3. Financial Planning and Wealth Transfer Strategies Business succession planning involves careful consideration of financial aspects. Engage with financial advisors and legal experts to develop strategies for wealth transfer. This may include setting up trusts, updating wills, and exploring tax-efficient methods to minimize financial disruptions during the transition. Providing financial security for both the outgoing owner and the successors is fundamental to the success of the plan. 4. Gradual Transition Periods Rather than a sudden pass-

OPENING A NEW BUSINESS? Michael A. Yeager, ESQ, LL.M. (Tax) Jennifer Roldan, Paralegal

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ing of the torch, consider implementing gradual transition periods. This allows the incoming leadership to familiarize themselves with the intricacies of the role and builds confidence among stakeholders. During this phase, the outgoing owner can act as a mentor, offering guidance and support, ensuring a smoother handover. 5. Open Communication Channels Open and honest communication with all stakeholders — employees, clients, suppliers, and family members — alleviates uncertainties and builds trust. Clearly articulate the succession plan, the reasons behind it, and the expected outcomes. This not only fosters a positive environment but also ensures that everyone is on the same page. 6. Regularly Review and Update the Plan Regularly review and update the plan to accommodate changes in personnel, business strategies, or external factors. An outdated plan may lead to inefficiencies or even failure in times of transition. Keep the plan agile and responsive to ensure its continued relevance. 7. Seek Professional Guidance Engage with legal advisors, financial planners, and tax advisors to ensure that your plan is comprehensive, legally sound, and aligned with your business goals. Their insights can prove invaluable in crafting a robust and effective succession strategy. 

F E B R UA RY 2024

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Key Trends, Developments Shaping the Legal Landscape in 2024 BY HENRY MARTIN

(NFTs) and consumer finance will play a For the SCV Business Journal pivotal role. Export Controls New export controls will Litigation: Abortion and Gender Identity Cases Lit- impact global trade dynamics. igation around abortion rights and gender iden- Supply Chains While supply chains are improving, vulnerabilities persist. tity issues will continue to be at the forefront. Courts will grapple with questions related to SEC and Conflict-of-Interest Rule The reproductive rights, transgender rights, and SEC’s potential new conflict-of-interest rule equal protection under the law. will be closely watched. Antitrust and Competition Antitrust enNFTs and Securities The intersection of forcement will remain a hot topic. Will regula- NFTs and securities regulation will be extors wield a scalpel or a sword when addressing plored1. market dominance? Expect significant antitrust Regulatory and Compliance: decisions. ESG and Data Privacy In-house counAbortion Pill Saga The ongoing saga around sel will grapple with environmental, the FDA’s restrictions on abortion pills will social, and governance (ESG) issues and reveal tensions between regulatory agencies data privacy regulations. and the courts. Supreme Court and CFPB The Supreme Litigation Finance Targeted growth in Court’s decisions could significantly impact litigation finance is anticipated, providing new the Consumer Financial Protection Bureau avenues for funding legal battles. (CFPB). Gender Care Coverage Courts may build Stakeholder Engagement Stakeholders upon the Bostock decision to address genderwill supplement agency efforts to combat greaffirming care coverage1. enwashing. Transactions and Contracts: Crypto Tokens and Disclosure Regulatory certainty and disclosure requirements for M&A Trends Key markets, including mergcrypto tokens will evolve. ers and acquisitions (M&A), will experience shifts. Supply chain management and emergSEC’s Data Tagging Companies will naviing conditions affecting non-fungible tokens gate the SEC’s data tagging requirements1.

UCLA

Continued from page 11

and other UCLA Health locations. “We are an extension of a world-renowned academic facility,” says Rena Callahan, MD, a UCLA Health hematologist oncologist who practices in Santa Clarita and Santa Monica. “You have expert level care near your own home.” Many services — both within cancer care and outside of it — come together at the UCLA Health Santa Clarita clinics to offer the best possible experience for patients. For more information go to uclahealth.org/santa-clarita 

Artificial Intelligence (AI): Generative AI Challenges Legal professionals will face challenges posed by generative AI. Impact on alternative fee agreements, IP litigation, and labor relations will be explored. FTC and AI Privacy Risks The FTC will address the convergence of AI and privacy risks. SEC and AI Proposed SEC regulations won’t allow advisers to sidestep AI. Pricing Bots and Antitrust As pricing bots gain muscle, antitrust scrutiny will intensify. AI in Spend Management AI will assist in-house counsel in managing legal spend and fees. Fair Use Boundaries Generative AI will test the boundaries of fair use. Employee Data and AI Models Companies will grapple with feeding AI models with employee data1. In summary, the legal profession in 2024 will witness dynamic shifts driven by technology, regulatory changes, and societal expectations. Legal practitioners must adapt, innovate, and stay informed to thrive in this evolving landscape. 

Law Office of George Almodovar HAVE YOU BEEN INJURED ON THE JOB? CONTACT THE LAW OFFICE OF GEORGE ALMODOVAR for a FREE consultation with the attorney with over 32 years of experience Specializing in: Work Injuries Auto Accidents Motorcycle Accidents Train Accidents Airplane Accidents All Types of Accidents 661523-0834 25060 Avenue Stanford, Suite 110, Valencia Hablamos Español Available 2417 IF YOU CAN’T COME TO US WE WILL COME TO YOU! Any person that knowingly makes any fraudulent statement to obtain representation with the intent of obtaining or denying Worker’s Compensation benefits is guilty of a felony. 

14 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

SCV ROTARY CLUB

MEMBERSHIP OUTREACH

F E B R UA RY 2024

SCV Water Launches Program to Support Local Businesses

We’re looking for people who want to give back to the community.

ENJOY LUNCH ON US! Our network of 1.4m neighbors, friends, and leaders volunteer their skills and resources to solve issues and address community needs.

Ready to learn about becoming a member? Join us for a FREE lunch Wednesdays at Noon. SCV Senior Center

n a press release this week SCV Water announced its “Water Champions” program, which focuses on supporting businesses within the SCV Water service area by providing programs

27180 Golden Valley Santa Clarita, CA 91350 www.SCVRotary.com Email for details: info@SCVRotary.com

Thank You for Reading the Business Journal

and resources to use water efficiently. The program helps local businesses prioritize efficient water use and showcase their water conservation leadership to the community. Businesses can opt for a voluntary water-use efficiency check-up, at no cost, to help them save water by: • detecting and fixing leaks • supplying water-saving devices (if needed) • identifying other water savings opportunities to help lower water bills • providing rebate and water-saving resource information To learn more, visit yourSCVwater.com/waterchampions 

HAVE YOU BEEN INJURED WHILE ON THE JOB? CONTACT THE OFFICE OF GEORGE ALMODOVAR

for a FREE consultation with the attorney with over 32 years of experience.

Specializing in: Work Related Injuries Automobile Accidents All Types of Accidents Available 24/7 Hablamos Español IF YOU CAN’T COME TO US, WE’LL COME TO YOU!

(661) 523-0834 LAW OFFICE OF GEORGE ALMODOVAR 25060 Avenue Stanford, Suite 110, Valencia, CA 91355

F E B R UA RY 2024

SCVEDC 2023 Annual Report BY JEY WAGNER, ED.D.

President & CEO of the Santa Clarita Valley Economic Development Corporation

fter 13 years of collaborative efforts within our community, the work of the Santa Clarita Valley Economic Development Corporation continues to be crucial to our region’s growth. SCVEDC continues to focus on business assistance, business attraction and retention, community marketing, and information and data. Despite the numerous obstacles of the past few years, there are many bright spots; most notably, the incredible support, innovation, and resiliency of our business community. In early January, I released the 2023 SCVEDC Annual Report to the City Council. It featured our organization’s business attraction and retention, business assistance, economic information & research, and workforce development initiatives. BUSINESS ATTRACTION, RETENTION & EXPANSION Business Attraction, Retention, and Expansion last year continued to support our new and existing companies and help them thrive. In 2023 the SCVEDC team helped facilitate 248 more jobs than in 2022. Here are some highlights of key attractions and expansions over the last year (minus ongoing activities and efforts): Vallarta Supermarkets (March 2023) purchased 3 buildings in the Valencia Industrial Center. These jobs are anticipated to generate approximately $100 million in annual economic output, including $750,000 in local (City and County) annual tax revenue. Q2 Solutions will be moving locations to the Valencia Commerce Center with their ~300 employees. AT2 Aerospace (May 2023) chose to locate their headquarters here, where they will function as the design, development, and engineering base for the company. AT2 is developing airship solutions to support commercial and humanitarian applications around the world. Avon Rents (June 2023) under new ownership, the one-stop vehicle rental company that has served the Greater Los Angeles area for over 40 years, decided to relocate their headquarters from Hollywood to the Saugus Station industrial complex.

DrinkPAK (May 2023) expanded their SCV footprint again, leasing out the remaining buildings at Needham Ranch. Totaling a 6-building campus of 965,000 SF. Shadowbox Studios (September 2023), a project the SCVEDC has long advocated in favor of, was approved by the City Council in August for their proposed 93-acre full-service film and television studio with 19 soundstages and its supporting facilities. 2,000+ “Direct/Permanent” onsite jobs ~4,000 «Direct/Indirect/Induced Permanent» operations jobs $1.0 billion+ in estimated annual economic impact WORKFORCE DEVELOPMENT INITIATIVES The focus of economic development on talent attraction and workforce development initiatives has continued to grow and is more crucial than ever. Through our business ecosystem, SCVEDC supports employers of all

SCV BUSINESS VOICES sizes to train their workforce and position themselves for the future. Our vision is to create an integrated, cost-effective workforce development system that prepares future and current employees with the skills needed for successful careers at SCV companies. ECONOMIC INFORMATION AND RESEARCH Economic Outlook and Economic Snapshots Every year the SCVEDC, in partnership with College of the Canyons, our board members, and numerous sponsors, hosts an Economic Outlook Forecast conference. SCVEDC economist Dr. Mark Schniepp returned to provide the full economic forecast, providing vital information and updates on national, state, and local economies. Futurist Jack Uldrich provided invaluable takeaways about future trends, change management, emerging technologies, and the necessity of embracing innovation. Visit our Data + Information page to check them out! 

16 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

F E B R UA RY 2024

Common Sense Rules for the Workplace BY PAUL BUTLER

SCVBJ Contributing Writer

so much enjoy my new hobby. It’s free and it gets me out into the fresh air. This new hobby also enables me to take in some more exercise and meet new people. My new hobby is litterpicking. I love living in Santa Clarita for many reasons, one of which is the beautiful paseo system we have in Valencia, weaving in and out of our neighborhoods. I figure that while I’m walking, I may as well pick up some litter. I’m thinking about starting up a club called The Litter-Picking and Coffee Club. I hope others will join. I’ve even started brainstorming with my wife about the three club rules I could establish: 1) safety first; 2) have a happy heart; and 3) make friends. It dawned on me these are also three common-sense rules for any workplace.

Safety First

I was pleased to read the latest information from the Bureau of Labor Statistics that the number of fatal workplace injuries has decreased from the last reported year. But one death is one too many. I was shocked to read not only that there were 4,764 workplace fatalities last year, but also an estimated 120,000

KELLER

Continued from page 6

At work, do your opinions seem to count? Does the mission of this company make you feel that your job is important? Are your coworkers committed to doing quality work? Do you have a best friend at work? In the past six months, has someone at work talked to you about your progress? This past year, have you had opportunities at work to learn and grow? To sum up, as you move into Q1, you

workers died from contracting occupational diseases. As employers and workplace leaders, we must continue to make the workplace safe. Safety must always be our first priority over profits.

Have a Happy Heart

For most of us, a large portion of our lifetime hours are spent at work; in fact, the average person will spend 90,000 hours at work over a lifetime according to a recent Gettysburg College study. It’s safe to say our job can have a huge impact on our quality of life. My belief system is that we only live once and so why not endeavor to have peace with all people as much as it depends upon you? The workplace is just a collection of people trying to get things done and therein lies the problem. So many people spend their days biting and snapping at others rather than focusing on the task. Poor workplace relationships can be a major cause of stress in a person’s life. On one of my litter-picking walks recently, an angry passerby was aghast at how much litter I’d picked up. She bitterly expressed how much this annoyed her by saying, “I really don’t like many people at all” and walked off never to be seen since. I wonder if she’s the same person whose Wi-Fi address pops up as “I Hate People.” When we start the litter-picking club I must take your energy, time and attention and focus on “Growing Good People.” This is a marathon and not a sprint; you need to be patient and consistent. This how companies move forward to win. Ken Keller is an executive coach who works with small and midsize B2B company owners, CEOs and entrepreneurs. He facilitates formal top executive peer groups for business expansion, including revenue growth, improved internal efficiencies and greater profitability. Email: Ken.Keller@strategicadvisoryboards.com. Keller’s column reflects his own views and not necessarily those of the SCVBJ. 

don’t want people to have an angry heart while picking up trash. Sadly, people will always drop trash. I can choose to be bitter about that or focus on trying to make the neighborhood look even better. Either way, the effort invested is the same, but I’ve found that the internal returns are much better if I choose the latter.

Make Friends

According to the annual Gallup workplace poll, one of the main reasons people stay at a job is because they have at least one colleague they’d call a friend. As an employee I found that people principle to be so true. I figured this could be a good rule for the litter-picking club: We have a job to do but let’s make friends while we do it … I guess that’s why I tagged the “coffee” part on to the club’s name. So, there are my three simple rules for the yet-to-be-launched ‘Litter-Picking and Coffee Club’ and I think they make sense in the workplace. Oh, and a good leader makes for a great workplace, and my wife supervises my litter-picking. Sometimes she sees things with her “super” vision I didn’t catch, and sometimes she even helps me, both of which a good manager does. I hope you’ll join my club — our neighborhoods and workplaces need you. Paul Butler is a Santa Clarita resident and a client partner with Newleaf Training and Development of Valencia (newleaftd.com). For questions or comments, email Butler at paul.butler@ newleaftd.com. 

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 17

F E B R UA RY 2024

VA L L E Y I N D U ST RY ASS O C I AT I O N ADVOCATE.EDUCATE.INNOVATE.

VIA’s Active Shooter Preparedness Update Luncheon: Strengthening Community Safety February 20, 2024 | Hyatt Regency Valencia VIA is proud to host the upcoming Active Shooter Preparedness Update Luncheon, scheduled for February 20th, 2024, at the Hyatt Regency Valencia. This event is a significant opportunity for our community to unite and actively participate in discussions crucial to our safety and preparedness.

Jenny Ketchepaw VP, Talent Engagement Banking Industry

Captain Justin Diez Los Angeles County Sheriff’s Department

Why Attend? In an era where unforeseen circumstances are a reality, being prepared is paramount. The VIA Active Shooter Preparedness Update Luncheon aims to equip attendees with the knowledge and skills necessary to respond effectively in the event of an active shooter situation. Distinguished speakers, Jenny Ketchepaw and Captain Justin Diez, will share invaluable insights gained from their expertise in this critical field. Why Your Participation Matters: Enhancing community safety and preparedness is a collective responsibility. Your active participation in this luncheon is not only an investment in your personal safety but also a commitment to the well-being of our entire community. Together, we can foster a safer environment by staying informed and prepared for any potential challenges.

January VIA Luncheon, City Update with Mayor Cameron Smyth

Event Highlights: •

•

WELCOME TO OUR NEW VIA MEMBERS

Insights from Expert Speakers: Gain valuable insights from distinguished speakers, Jenny Ketchepaw and Captain Justin Diez, who bring a wealth of experience in active shooter preparedness. Shared Responsibility: Understand that community safety is a shared responsibility, and your participation is a proactive step towards creating a safer environment for all. Practical Knowledge and Skills: Acquire practical knowledge and skills essential for responding effectively in the event of an active shooter situation.

Contact Us: For inquiries or assistance with registration, please feel free to reach out to Kathy Norris at kathy@via.org. Register at: www.via.org/calendar

Franz Garcia de Paredes (818) 791-6000 franz@latamsynergies.com Rotary Club of SCV Scott Hoolahan (805)901-7373 shoolahan@outlook.com Clean My Space Steve Young, Owner (661) 755-8490 steve@clean-myspace.com

Centennial Kristina Long, Leasing & Business Development Manager Monique Arakelian, Marketing Manager Kristina Long: (661) 312-2689 La Cocina Bar & Grill Amador Lopez (661) 609-8836 Jaslopez09@hotmail.com

California Credit Union Lyudmila Pazyuk, Branch Manager (818) 970-4983 lpazyuk@ccu.com

2024 UPCOMING EVENTS February 22 | VIA After Five La Cocina 5:00 - 7:00 PM 28076 Bouquet Cyn. Rd Santa Clarita, CA 91350

March 15 | HR: Navigating Best Practices in the Valley’s Dynamic Industries 11:30 am. - 1:30 p.m. Dianne G. Van Hook University Center 26455 Rockwell Canyon Road, Room 258

March 28 | VIA After Five Resurgence IT 5:00 - 7:00 PM 25031 Ave. Stanford Ste. 10 Valencia, CA 91355

A DVO C AT E • E D U C AT E • I N N OVAT E VIA.BJ.Feb2024.indd 2

April 25 | VIA After Five 360 Executive Suites 5:00 - 7:00 PM 25101 The Old Rd Stevenson Ranch, CA 91381

May 16 | VIA Workforce Development Conference Keynote Speaker: Seth Mattison 11:00 am. - 1:30 p.m. Hyatt Regency Valencia 24500 Town Center Drive

V I S I T V I A .O R G 1/25/24 9:35 AM

18 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

F E B R UA RY 2024

Uniquely Abled Academy Distinguished for 100% Job Placement

BY DIANNE VAN HOOK

The UAA CNC machining course at COC is a 12-week program that provides 420 hours of training and instruction to participating individuals, which includes soft skills, open laboratory, job readiness, and 21st century skills training. After completing the not-for-credit course, graduates are qualified for entry-level positions as CNC operators, machinist apprentices, and machine trainees. To date, the program has trained 40 students, all of whom found employment after earning a UAA certificate! In collaboration with the UAA, local businesses such as Classic Wire Cut, Lusk Quality, TA Aerospace, Woodward, and DG Engineering Corp., provide employment to UAA graduates after earning certification. The UAA, which currently provides

Chancellor, Santa Clarita Community College District/College of the Canyons

am so proud of the Canyons Workforce and Economic Advancement division, which was recently distinguished as one of the top-performing training providers by the South Bay Workforce Investment Board (SBWIB) for its 100% job placement of Uniquely Abled Academy (UAA) graduates. They imagined it and they did it! Launched in spring 2018, the UAA program provides advanced training and support for autistic individuals to work as Computer Numeric Controlled (CNC) machinists.

training at the college’s Valencia and Canyon Country campuses, as well as B&B Manufacturing, is set to relocate to the college’s Advanced Technology Center (ATC) in spring 2024. The UAA is an incredible program that enables access to today’s competitive workforce. I am excited to continue seeing its growth and expansion when it moves to the ATC. The ATC, located at 26306 Diamond Place, is a state-of-the-art advanced manufacturing and Computer Numerical Control (CNC) production lab that prepares students for high-skill jobs in advanced manufacturing, welding, and construction technologies. If you would like to get involved with the UAA, please visit www.canyonswork force.org/uaa. 

Economic Development Corporation 26455 Rockwell Canyon Road | UCEN 263 | Santa Clarita, CA 91355 | (661) 288-4400 | www.scvedc.org

Econo Watch Santa Clarita Valley

Q4 2023

Q2 2022 Sq Ft

Commercial Vacancy Rates Office Space

21.78%

2.72%

2,856,082

Industrial Space

2.40%

3.60%

27,318,167

Total Avail SF

30,174,249

Total Marked Sq. Ft. Vacancy Percentage: Office Space - as a % of Vacancy

9.4%

Industrial Space - as a % of Vacancy 90.53% Building Permits

10.04%

N/A

3.60%

N/A

Dec ‘23

Nov ‘23

Dec ’22

New Commercial/Industrial Building Permits

Commercial Tenent Improvements/Alterations

New Residential Units (SF) - City of SC

184

135

SINCE 1919

SignalSCV. com

Unemployment Rates

Dec ‘ 23

Nov ‘23

% Change

Santa Clarita

4.7%

4.9%

4.08%

Palmdale

6.5%

6.4%

1.56%

Lancaster

6.7%

6.6%

1.52%

Glendale

4.9%

5.0%

-2.00%

Los Angeles County

5.0%

0.00%

State

5.1%

4.9%

4.08%

Housing Stats

Dec ‘23

Nov ‘23

SCV Average Home Price

884,200

893,600

861,500

SCV Average Condo Price

578,700

570,000

565,700

SCV Home Sales

1,721

1,613

2,356

SCV Condo Sales

708

656

932

SCV Avg. # of Days on Market (SF)

SCV Single Family Home Inventory

249

296

364

SUBSCRIBE TO YOUR HOMETOWN NEWSPAPER TODAY

CALL (661) 259-1000

the

Dec ’22

NEWS

SOURCE

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 19

F E B R UA RY 2024

The List: Largest Law Firms FIRM

ADDRESS

MAIN PRACTICE

Carter Law Firm, APC

27240 Turnberry Lane, Suite 200 Valencia 91355 •(323) 825-5529 www.themainstreetattorney.com

Civil Litigation, Civil Rights/Discrimination

Cohen Law, PLC

28039 Smyth Drive, Suite 200 Valencia 91355 • (661) 257-2887 • www.cohenlawpc.com

Entertainment Law, General Practice, Intellectual Property, Business & Corporate, Probate

Crockett & Associates

23929 Valencia Blvd., Suite 303 Valencia 91355 • (323) 487-1101 • bobcrockettlaw.com

Business litigation

DaCorsi Placencio

28494 Westinghouse Place, Suite 206 Valencia 91355 • (818) 884-6666 • dacorsi.net

Family Law, Divorce Law

Donahoe Young & Williams LLP

25152 Springfield Court, Suite 345 Valencia 91355 • (661) 259-9000 • www.donahoeyoung.com

Bankruptcy, Civil Litigation, Probate, Estate Planning, Business & Corporate, Real Estate

Edzant Price LLP

28470 Avenue Stanford, Suite 360 Valencia 91355 • (661) 222-9929 • www.edzantprice.com

Lemon Law, Personal Injury

Gharibian & Oliver

25350 Magic Mountain Parkway, Suite 240 Valencia 91355 • (661) 254-4100 •www.gocallaw.com

Family Law

Inglis Family Law Firm

25129 The Old Road, Suite 201 Stevenson Ranch 91381 • (661) 200-3845 • inglisfamilylawfirm.com

Family Law

John Hernandez, Esq., APC

25350 Magic Mountain Parkway, Suite 300 Valencia 91355 • (661) 523-3904 www.hernandezlaw.co

Workers Compensation

Law Office of Jeffrey Armendariz

28470 Avenue Stanford, Suite 360 Valencia 91355 • (661) 288-1959 www.armendarizlawoffice.com

Criminal Defense

Law Office of John S. MacIntosh

25350 Magic Mountain Parkway, Suite 130 Valencia 91355 • (661) 255-7027

Home Owners Association, Landlord/Tenant, Estate Planning

Law Office of Michael Berke

25001 The Old Road, Santa Clarita 91381 • (661) 259-1800 • www.berkeslaw.com

Debt Collection

Law Office of Robert M. Mansour

28212 Kelly Johnson Parkway, Suite 110 Valencia 91355 • (661) 414-7100 • www.mansourlaw.com

Estate Planning, Probate, Personal Injury

Law Offices of Bill J. Thompson

28212 Kelly Johnson Parkway, Suite 195 Valencia 91355 • (661) 775-4979 www.billthompsonlawoffices.com

Business & Corporate, Civil Litigation, Personal Matters

Law Offices of David A. Huffaker

28382 Constellation Road, Valencia 91355 • (661) 288-1050

Estate Planning

Law Offices of Jonathan B. LaFrance

25060 Avenue Stanford, Santa Clarita 91355 • (661) 257 8883 • lawofficesofjonathanblafrance.com

Criminal Law

Law Offices of Robert J. Kaiser

23550 Lyons Ave. #203 Santa Clarita 91321 • (661) 444 3446 • robertjkaiser.com

Personal injury

Miller Law Office, PC

25000 Avenue Stanford, Suite 172 Valencia 91355 • (661) 544-3401

Civil Litigation, Non-Profit Organizations, Real Estate

NP Law Firm, APC

28494 Westinghouse Place, Suite 311 Valencia 91355 • (855) 675-2901 • www.nplaw.la

Business Litigation, Data Security & Data Privacy, Personal Injury, Trial / Litigation, Toxic Tort, Wrongul Death

Odom Law Group, APLC

24801 Pico Canyon Blvd., Suite 300 Stevenson Ranch 91381 • (661) 367-1699 www.odomlawgroup.com

Estate Planning, Trust Administration, Probate, Business Law, Employment Law, Contracts, Real Estate Law

Ortega & Associates

25876 The Old Road Suite 181 Stevenson Ranch 91381 • (661) 237-0732 www.ortegaandassociates.com

Healthcare, Medical Malpractice, Personal Injury

Owen Patterson & Owen

23822 W. Valencia Blvd. Suite 303 Valencia 91355 • (661) 799-3899 • www.opolaw.com

Civil Litigation, Civil Rights/Discrimination, Personal Injury, Civil Litigation, Employment Law, Personal Injury, Products Liability

Poole Shaffery LLC

25350 Magic Mountain Parkway, Santa Clarita Suite 250 Valencia 91355 • (661) 290-2991 www.pooleshaffery.com

Business & Commercial Litigation, Employment Law, Environmental Law, Business Succession Planning + Trust Administration, General Counsel Services, Trucking & Transportation, Real Estate, Cyber Security, Data Breach & Internet Privacy

The Reape-Rickett Law Firm

25152 Springfield Court, Suite 100 Valencia 91355 288-1000 • www.divorcedigest.com

Family Law

Law Offices of Steffanie Stelnick

28001 Smyth Drive, Suite 101 Valencia 91355 818-784-8986 • www.stelnicklaw.com

Personal injury, estate planning, real estate, wrongful death

The Werner Law Firm

27433 Tourney Road, Suite 200 Valencia 91355 • (661) 252-9022 • www.wernerlawca.com

Business & Corporate, Estate Planning, Landlord/Tenant, Bankruptcy, Pesonal Injury, Probate

Yeager Law, APC

23300 Cinema Drive, Suite 2907 Valencia 91355 • (661) 471-2177 • www.yeager.law

Estate planning, advanced tax planning, wills

REAL ESTATE

Continued from page 10

vice president and chief economist for the CAR, in his 2024 forecast. Last fall, he pointed out that despite the interest rate hikes and tepid sales in the winter, the volume is expected to improve. “The other thing that I think

that is important to point out is we don’t see a big uptick in inventory from depressed sales,” he added, “so there’s a lot of reason why the fundamentals of the mortgage market look at lot better now than they did back in 2008,” he said referring to the Great Recession. One of the most reassuring bits of data with respect to that, he said, is that people are still paying their mortgage

on time, largely because they were locked in previously at historically low rates, Levine speculated. Another big difference from the last time there were challenges and talk of a possible recession is that now people are coming to the market with cash and/or a significant amount of money down, he said. Overall in the Santa Clarita Valley, there’s plenty of reason

to be optimistic, particularly when looking at the list and, more importantly, the sale price for single-family homes. Since January 2019, the median list price for the SCV residential market increased from $589,000 to $840,000, which includes homes and condos. During that time, the median sale price for houses and condos increased from $527,000 to $760,000. 

20 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

F E B R UA RY 2024

Historic Preservation Can Lead to Property Tax Savings BY JEFF PRANG

Los Angeles County Assessor

e can all learn from the past, as those valuable history lessons provide us with a solid foundation to build a better future. I believe that to be a true statement. I also know that history can lead to a property tax savings’ program that preserves as well as saves money. The Mills Act is an economic incentive program in California for the restoration and preservation of qualified historic buildings by property owners. Enacted in 1972, the Mills Act legislation grants participating cities and counties the authority to enter contracts with owners of qualified historic properties who actively participate in the rehabilitation, restoration, preservation and maintenance of their historic properties. The Mills Act permits property tax relief to offset the costs. Mills Act contracts are for an initial term of 10 years. A contract automatically renews each year on its anniversary date and a new 10-year agreement becomes effective, creating a rolling contract term that is always equal to the initial terms of the contract.

How does the property tax relief work?

After a property owner enters into a contract, the local government agency notifies the L.A. County Assessor’s Office of the contract. We will then annually determine the value of a Mills Act property based upon a prescribed capitalization rate as provided for in Revenue and Taxation Code section 439.2 (b) or (c). This is a restricted value. We will then compare this restricted value to the current market value and the factored base year value (also known as the “Proposition 13” value). The lowest of the three values is then enrolled, which is most likely the restricted value. In fact, that’s where the property tax

The Mills Act is an economic incentive program in California for the restoration and preservation of qualified historic buildings by property owners

savings factor into the equation. The restricted value can be considerably lower, many times more than half, than the other values creating a tax savings for the owner. Since all properties are assessed annually, Mills Act properties may even undergo more decreases, possibly increases, in property taxes each year as market conditions change. Each year all Mills Act enrolled properties are notified by mail of their Mills Act values for that year as determined by the Assessor. This notification is typically sent out when a new contract value is first enrolled, or annually in May for existing contracts. You might be thinking, “How can I get my property registered or find out if my property qualifies for the Mills Act Program?” Each city and unincorporated area in Los Angeles County may have different procedures for local historic designation. Contact the planning department or community development agency of your

local municipality to confirm whether they participate in the Mills Act Program, the criteria that would need to be met, and the application process. Your building may already be considered a contributing structure to an established historic area. Also, many buildings that were not designated as historic on past surveys may now be eligible to qualify as historic. For more information, please see the State Board of Equalization guidelines provided for use in assessing properties under the Mills Act. Los Angeles County Assessor Jeff Prang has been in office since 2014. Upon taking office, Prang implemented sweeping reforms to ensure that the strictest ethical guidelines rooted in fairness, accuracy and integrity would be adhered to in his office, which is the largest office of its kind in the nation and provides the foundation for a property tax system that generates $20 billion annually. 

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 21

F E B R UA RY 2024

CARLSON

Continued from page 7

Each case is approached with precise attention to detail, as the team strives to uncover every pertinent fact and piece of evidence. This thorough approach not only strengthens their clients’ legal positions but also instills a sense of confidence in their ability to secure favorable outcomes. Moreover, the firm’s extensive network of expert witnesses and consultants further bolsters their arsenal, enabling them to present compelling arguments and counterclaims with unwavering conviction.

Community Engagement and Pro Bono Initiatives

In a society where legal representation often feels distant and impersonal, the firm’s commitment to the local community is surely commendable. Pro bono work and support for various charitable causes are not just occasional endeavors but intrinsic to their ethos, underscoring their role as responsible and compassionate members of the Santa Clarita Valley. The Law Offices of C. Ray Carlson actively engages in initiatives aimed at promoting access to justice and supporting underserved communities. Whether it is providing free legal services to lowincome individuals or participating in community outreach programs, the firm’s commitment to serving the greater good is palpable. Moreover, their involvement in educational initiatives and advocacy campaigns further highlights their dedication to fostering positive change and empowering individuals to assert their rights. The firm prides itself in helping anyone who walks through its doors. If the issue at hand is outside the scope of personal injury, The Law Offices of C. Ray Carlson freely guides the client to a legal representative best suited to handle the situation. Ensuring the client’s best outcome is the hallmark of the firm.

Dedicated Advocates: Profiles of Jennifer Smith and Chad Carlson

The Law Offices of C. Ray Carlson’s stalwart advocates stand out for their unwavering dedication to the pursuit of justice and the well-being of their clients. Jennifer Smith and Chad Carlson,

C. RAY CARLSON JENNIFER SMITH

as senior partners, embody the firm’s ethos of legal excellence coupled with compassionate advocacy. Jennifer Smith is renowned for her tenacity in protecting her clients’ rights and ensuring they receive the compensation they rightfully deserve. Her deep legal knowledge and compassionate demeanor make her a trusted ally for those grappling with personal injury claims. With a keen eye for detail and a steadfast commitment to advocacy, she navigates the complexities of each case with unparalleled skill and determination. Similarly, Chad Carlson’s dedication to upholding justice and aiding personal injury victims in rebuilding their lives is palpable. With an impressive track record and a genuine desire to assist clients in moving forward after traumatic events, he offers not just legal expertise but also a beacon of hope amidst despair. His compassionate approach and unwavering support serve as pillars of strength for clients seeking solace during adversity. The Law Offices of C. Ray Carlson purposefully maintains a boutique size firm so it can maneuver and adapt freely to every case. Each case is personally managed by their attorneys to ensure timely yet effective results.

A Symbol of Hope and Justice

The Law Offices of C. Ray Carlson transcends the realms of a mere legal

CHAD CARLSON

firm; it is a symbol of hope and justice for those who have endured injuries and injustices. With an unwavering commitment to their clients and a formidable arsenal of legal skills, they remain the go-to destination for personal injury legal representation in the Santa Clarita Valley. For anyone in search of a reliable and compassionate legal advocate, The Law Offices of C. Ray Carlson stand as a steadfast ally, ready to navigate the turbulent waters of legal proceedings with unwavering support and dedication.

Conclusion

In a world where the pursuit of justice often seems like an uphill battle, The Law Offices of C. Ray Carlson shines as a beacon of hope and compassion. Led by a team of seasoned legal experts who combine unwavering dedication with profound empathy, the firm stands at the forefront of the fight for justice and fairness. With a track record of success and a commitment to serving the community, they embody the highest ideals of the legal profession and serve as a testament to the transformative power of compassionate advocacy. The Law Offices of C. Ray Carlson is located at 27951 Smyth Drive, Suite 101, Valencia 91355. (661) 294-0044. craycarlson.com 

22 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

Santa Clarita Stock Average

F E B R UA RY 2024

Santa Clarita Stock Average Below you will find a list of local Santa Clarita-based or prominent Santa Clarita companies used for our averages. Each month we will take the average of all these stocks and show that number. Tracking that number from month to month will give you a window into how our local company’s stocks are performing. Last month the index was 3,082.22 and the average price per share was $102.74. This month the index is 3,783. 22 up 701.00 or 22,4 % For an average share price of $129.22.

Company

TICKER

industry

1/27/23 price

1/11/24 price

2/4/24 price

Amazon

AMZN

Retail

102.24

155.06

170.86

Auto Nation

Auto dealers

121.38

141.35

146.70

Bank of SoCal

BCAL

Banking

16.8

17.05

16.05

Bioventus

BVS

Biomedical

2.11

4.89

4.53

Boeing

Aerospace

211.17

222.10

209.16

Boston Scientific

BSX

Biomedical

45.91

59.61

64.37

California Resources

CRC

Energy

43.16

51.26

46.81

Carnival

CCL

Entertainment/leisure

11.02

17.44

16.40

CBRE

Commercial real estate

84.46

84.65

85.00

Comcast

CMCSA

Communications

39.6

43.27

45.11

Costco

COST

Retail

503.29

673.80

709.09

Disney

DIS

Entertainment media

109.54

89.43

97.01

Five Point Holdings

FPH

Home developer

2.64

2.81

3.56

Home Depot

Retail

316.69

356.53

356.59

IQVIA Holdings

IQV

Laboratory services

229.47

213.95

210.75

ITT Inc.

ITT

Aerospace/manufacturing

91.26

111.73

126.41

KB Homes

KBH

Home developer

37.48

62.42

59.92

Kohl's

KSS

Retail

31.49

26.83

26.39

Lennar

LEN

Home builder

100.61

154.85

154.02

Lowes

LOW

Retail

202.49

220.16

219.49

McDonalds

MCD

Restaurants

272.46

294.15

298.00

Otsuka Holdings

OTSKY

Pharmaceutical

16.09

20.12

19.30

Quest Diagnostics

DGX

Laboratory services

145.63

135.77

123.06

Six Flags

SIX

Entertainment/leisure

27.26

24.08

25.87

Sodexo

SDXAY

Home / Food services

19.57

27.78

23.65

Sonova Holdings

SONVY

Biomedical equipment

90.61

65.98

98.56

Textron

TXT

Industrial

72.28

78.08

86.00

Tri Pointe Homes

TPH

Home developer

21.57

34.73

34.55

Walmart

WMT

Retail

105.65

160.85

170.38

Woodward

WWD

Aerospace/manufacturing

110.23

137.96

136.26

2024_SCVBJ Recruitment AD.pdf

2/1/24

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23 0 2

THE LAW FIRM FOR YOUR BUSINESS JOHN SHAFFERY Poole Shaffery

John Shaffery is the Co-Chair of the Santa Clarita Valley Economic Development Corporation. Poole Shaffery was founded more than 25 years ago and has grown to become one of Southern California’s most respected business law firms. We proudly offer our clients all the resources of a large law firm – with the personal service and attention to detail you’d expect to find at a smaller one.

The attorneys at Poole Shaffery understand the importance of every legal detail, so you can focus on doing what you do best: Running a successful business. ■

Business Counseling

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Trust Administration

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Business Contracts

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Distributorships and Franchises

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Purchase, Sale and Merger Transactions Business Succession Planning

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Buy-Sell, Shareholder and Other Joint Business Owner Agreements

25th

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Real Estate Transactions and Litigation

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Employment Counseling

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Employment Litigation

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Data Breach

Call 661-290-2991 today to see what Poole Shaffery can do for you!