NAIOP Webinar: Risk Management Strategies for Successful Real Estate Development Projects

Risk Management Strategies for Successful Real Estate Development Projects
Thursday, March 11, 2010
1 p.m. (EST); noon (CST); 10 a.m. (PST)

Presented by:
John Kurtz, senior vice president/Mid Atlantic Real Estate Practice Leader, March USA Inc.

This informative Webinar will examine the various risks associated with development projects and discuss how to use risk assessment as a guide to structuring project insurance and developing a risk management strategy. In addition, we’ll identify the different insurance products available to development projects and address the vital role of insurance in development and construction contracts.

Register for this resourceful Webinar. Webinars are priced per site: $65 members; $95 non-members. Registrants have access to the online archive for 30 days following the Webinar. Online registration will close March 11 at 11 a.m. (ET).

Public Vote on Split Roll Tax Ballot Initiatives in California Will not Occur This Year, but Legislature May Still Act

California voters will not vote this year on two state ballot initiatives that would have revised the property tax structure by imposing a split roll tax that would place a higher tax burden on commercial real estate and the private sector in generating state revenues. The California State Council of NAIOP is actively opposing these ballot amendments and is a member of Californians Against Higher Property Taxes which is led by Rex Himes, President of the California Business Properties Association, and other state business leaders. This well-organized coalition is dedicated to educating Californians on the detrimental impact of these ballot initiatives on the economy, job creation and small businesses.

NAIOP’s Legislative Survey

NAIOP recently conducted a survey among its members, asking them to rank legislative priorities and provide feedback on the issues currently facing the industry on Capitol Hill. Below is an executive summary of the survey’s results.

The need for capital and credit liquidity is a clear priority for NAIOP members, with 70 percent of survey respondents supporting NAIOP urging policymakers to pursue additional measures to encourage banks to extend loans to properties with maturing commercial debt and clear balance sheets of distressed assets.

Senate Continues Debate on “Tax Extenders” Legislation

he Senate was scheduled to continue debate this week on legislation that would, among other things, extend bipartisan tax code provisions important to the business community that expired at the end of 2009. Included in the package are extensions of 15-year depreciation for leasehold improvements and expensing of brownfields remediation costs – two important elements of NAIOP’s 2010 Legislative Priorities. While the legislation is expected to pass the Senate, hurdles remain because the version passed by the House of Representatives contains differing provisions to pay for the legislation.

Levin Takes Over Chairmanship of House Tax Writing Committee

Representative Sander Levin (D-Mich.) has assumed the chairmanship of the powerful House Ways and Means Committee after Charles Rangel (D-N.Y.) stepped down while the House Ethics Committee conducts an investigation into aspects of his financial dealings. Levin is the chief sponsor of legislation that would change the tax treatment of partnership “carried interest” compensation from capital gains to ordinary income, resulting in a tax increase on many real estate partners from a current 15 percent rate to rates as high as 35 percent. NAIOP strongly opposes a tax hike on carried interest compensation.