AROUND THE VALLEYS

  San Fernando ValleyA number of San Fernando Valley studios and production companies will receive financing for feature film projects from the latest round of tax credits under the state’s Film & TV Tax Credit Program. Universal Pictures in Universal City received tax credits for three of the four highest amounts, totaling more than $32 million. They are for the feature films “Scarface,” with a screenplay written by Joel and Ethan Coen; “Ashley’s War” about women soldiers in Afghanistan; and an untitled live-action project. Warner Bros. Entertainment affiliates Warner Specialty Productions Inc. and New Line Productions Inc. received tax credits in the amount of $581,000 and $3.8 million respectively for the films “Passenger 58” and “Leave Me Alone.” Additionally, Rose City Pictures Inc., located on the Warner’s Burbank lot, received $3 million for “Kimi,” directed by Steven Soderbergh. Finally, Burbank-based Walt Disney Co. affiliated production company Newsub 118 Productions Inc. received $4.2 million in tax credits for “Hollywood Stargirl.” Colleen Bell, executive director of the California Film Commission, said in a statement, “the tax credit projects announced today are on track to generate thousands of high-wage jobs and an estimated $642 million in overall in-state spending, with more than $430 million going to below-the-line workers and in-state vendors.”CALABASASA two-story office building at a Calabasas business park has sold for $12.7 million, or $271 per square foot. The structure, located at 26050 Mureau Road, sits on 1.6 acres and contains covers 46,899 square feet. The design includes a training center, boardrooms, fitness center, lounge and outdoor patio. Lee & Associates-LA North/Ventura principal Jay Rubin and Associate Eugene Kim led the team representing the seller, Crusader Insurance Co., while Craig Miller and Todd Cobin of Stone Miller represented the undisclosed buyer. The listing brokers said the location has become ideal in the wake of the COVID-19 outbreak as employees shift to more suburban environs. “Calabasas has become one of the most sought-after communities in Los Angeles,” Rubin said in a statement.WOODLAND HILLSBlackLine Inc.

has hired Lisa Schreiber as chief customer officer. The maker of accounting software said in her new role, Schreiber oversees the company’s implementation, strategic innovation, customer success, support and training teams. She comes to BlackLine from cybersecurity company Forcepoint. Previously, Schreiber spent 10 years in executive positions worked at Oracle, Charles Schwab, Apple and Bank of America. “Lisa brings a 360-degree view of customer and product insight from her experience on both sides of the table at leading companies,” BlackLine Chief Executive Marc Huffman said in a statement.

Santa Clarita ValleySANTA CLARITANewHydrogen Inc.

earlier this month finalized an agreement to expand existing research at the University of California at Los Angeles. The new agreement has 10 times the previous budget, “significantly expanding” research involving green hydrogen energy. The partnership strives to make hydrogen production cheaper and more accessible by replacing rare earth metals like platinum and iridium with inexpensive, widely available materials. “Expanded research focus takes some of the lessons learned and developed approaches thus far, and applies them to other raw materials including platinum, which we believe will maintain its increasing price trajectory,” Dr. David Lee, chief executive of BioSolar, said in a statement. BioSolar is NewHydrogen’s parent company; the business awaits regulatory approvals to officially change its name to NewHydrogen.VALENCIAThe city of Santa Clarita has awarded a contract to Los Angeles Kings and American Sports Entertainment Co. to operate an ice rink the city rescued in the fall. Assistant City Manager Frank Oviedo told the Business Journal the 90,000-square-foot facility, which is currently undergoing renovations, will serve as a hub for all ice sports in Santa Clarita and a center for community engagement. “It will host city events, non-profit fundraisers, mixers, conventions, business meetings, concerts, sports competitions — just to name a few options,” Oviedo said. Formerly known as Valencia Ice Station, the ice rink at 27745 Smyth Drive was finally purchased by the city of Santa Clarita last fall.Princess Cruises has yet again extended its pause on cruise activity. The Santa Clarita cruise line this time delayed its resumption of voyages in the Caribbean, Mediterranean, Mexico and California coast, including cruises out of the Port of Los Angeles, to June 30 at the earliest. The delay affects the Caribbean Princess, Enchanted Princess and Ruby Princess ships. The cruise line previously planned to start cruising in the Caribbean and California coast May 14. Late last year it cancelled all cruises longer than seven days that sail in or out of any U.S. port through Nov. 1 in compliance with the CDC’s recommendations. The company also extended its pause for cruises departing and arriving in Japan through June 25. Princess said in a statement it “continues to work with government and port authorities to finalize its plans for return to cruising.”Tri-CitiesBURBANKWalt Disney Co. will shutter at least 60 of its Disney retail stores in North America this year. The entertainment and media giant said the closures are the “beginning” of an effort to downsize its brick-and-mortar presence and focus instead on online retail channels. Stephanie Young, Disney’s president of consumer products, games and publishing, explained in a statement that COVID-19 has changed what consumers expect from retailers. “Over the past few years, we’ve been focused on meeting consumers where they are already spending their time, such as the expansion of Disney store shop-in-shops around the world. We now plan to create a more flexible, interconnected e-commerce experience,” she said. The company didn’t disclose which locations will close, nor did it say how many employees would be eliminated by the changes. The New York Times reported a significant number of overseas stores are also expected to close in the coming year. Last month, Disney reported a return to profitability from a pandemic-induced slump.GLENDALEA private investor has acquired the Win-Lake Apartments in Glendale for $5.3 million, or $314,705 per unit, in a 1031 exchange. The two-story building at 510 Winchester Ave. consists of 17 apartments and covers 11,866 square feet. It was constructed in 1965. Burbank-based Alexanian Apartment Advisors transacted the deal on behalf of the seller, Suprio and Rosalba Banjeree of Stevenson Ranch. “In 24 days, we were able to go under contract with a buyer who moved very quickly and had an impressive resume,” said Greg Alexanian in a statement. Close proximity to Walt Disney Co., Warner Bros. and other media giants in nearby Burbank was a huge draw, he added.Developmental disability nonprofit AbilityFirst announced it has completed a merger with fellow Pasadena nonprofit FVO Solutions Inc.

AbilityFirst, which has a location in Glendale, will now offer expanded support services to more than 2,000 people in the Greater Los Angeles market. The merged company will operate as AbilityFirst. In a statement, AbilityFirst Chief Executive Lori Gangemi called the merger a “major milestone.” The company announced it will launch several new programs including a licensed adult day care and an employment services center.VENTURA COUNTYTHOUSAND OAKSCalifornia Lutheran University economists Matthew Fienup and Dan Hamilton have received the Zillow Home Price Expectations Survey’s 2020 Crystal Ball Award — the second year in a row the duo has been recognized on the national stage. Fienup and Hamilton work at Cal Lutheran’s Center for Economic Research and Forecasting in Westlake Village. The Center’s U.S. housing market forecast was among the top three in accuracy of more than 100 reports included in the survey. “Our goal is to provide objective, clear-eyed forecasts that reflect what economic theory and state of the art forecasting tools reveal. We see our role as one of calling balls and strikes, rather than advocating for a preferred outcome,” Fienup said in a statement.