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October 30, 2010

Wash. App: "I Don't Care!" - Regulatory Takings Are About Impact, Not Justification

Wash. App: "I Don't Care!" - Regulatory Takings Are About Impact, Not Justification
Posted: 28 Oct 2010 12:57 PM PDT
SloughRemember that now-iconic scene in The Fugitive, where Harrison Ford's character has turned the tables on Tommy Lee Jones, and while holding Jones at gunpoint proclaims, "I didn't kill my wife!"
Jones' response -- "I don't care!" -- could just as easily apply to regulatory takings law, especially where a property owner alleges a regulatory action results in a per se taking (either a Lucas interference with all economically beneficial use, or a deprivation of a fundamental aspect of property such as the right to exclude).
In those cases, it generally does not matter what justifications the government may have for the regulation -- the only thing relevant is the impact of the regulation on the property. In other words, even a regulatory action that might be a very good idea (from the government's perspective) results in liability for compensation if it results in a taking of property.
Thus, a court's proper response to the government's assertion in a takings case seeking compensation that a regulation is "in the public interest" would be a Tommy Lee Jones-esque "I don't care!"  The only way the government can avoid liability is to show that the regulation is a "background principle of nuisance and property law" to which the property was always subject.
Earlier this week, the Washington Court of Appeals applied this analysis in Dunlap v. City of Nooksack, No. 63747-9-9 (Oct. 25, 2010). Generally speaking, we don't cover unpublished decisions, but we're going to make an exception because this is an interesting case.
Mr. and Mrs. Dunlap own two parcels in northern Washington state in the city of Nooksack, which appears to us to be just a short American Goldfinch flight from the Canadian-American border (the Goldfinch is the official State Bird of Washington...work with us here). The first is a 29 acre parcel zoned for agricultural and residential uses, bordering West Third Street and several other roads.
The other parcel is a 1/4 acre, zoned for residential use; a slough runs through the middle of this parcel, rendering the middle of the parcel unuseable. See inset photo. The slough is a wetland and shoreline under Washington law.When they purchased the property, there was a 100-foot "no build" buffer from the slough, and when they later sought permission to build a home, the buffer was 50 feet.
The city vacated West Third, meaning it eliminated the public interest in the road, and the Dunlaps asserted that this cut off their access to the 29 acre parcel and was a taking. The trial and appeals courts disagreed, noting, "[t]he trial court concluded that the Dunlaps failed to establish that access to the 29.5-acre parcel was substantially impaired because, even after vacation of West Third Street, the Dunlaps had access to the parcel." Slip op. at 4. Since their parcel was not landlocked, there was no taking. Easy case.
The 1/4 acre parcel was another matter, however. The Dunlaps had applied to the city for a permit to build a house on this parcel, and sought a shoreline variance to retain an already constructed fence. When permission to build the house was denied, the Dunlaps also sought a shoreline variance. Denied also. They exhausted their administrative appeals, which were also denied, then headed off to court. You broke it you bought it, said the Dunlaps, and in a regulatory taking claim, they asked for just compensation.
The trial court agreed, holding that the only economically beneficial use of the property was to build a residence, but because of the buffers, the house was limited to 480 square feet. Building a tiny house not much bigger than a walk-in closet, the court found, was not economically viable. Forcing the owners to build a 480 square foot home "is a total and devastating economic impact to the quarter acre parcel." See Findings of Fact at 7. The trial court's written findings are here.
The court of appeals affirmed. First, the court disposed of the city's claim that it was not liable because it was merely enforcing state law. The property owners should have sued the state, not the city. The court concluded that "there is no evidence that the State, through the Department, directed or controlled the City in its decision on the Dunlaps’ application for a variance. In fact, the Department actually recommended approval of the Dunlaps’ application with changes as proposed by the Department." Slip op. at 8. Since the city was not acting as the state's agent, the city was liable.
The court of appeals also rejected the city's claim that a 480 square foot house was an economically viable use of the parcel. The court concluded the trial court was well within its discretion because the testimony supported its findings: building a home without infringing on the slough buffer would be very expensive, the home would have no fence, yard, or patio area, and the no-build buffer would be "right outside the house." Slip op. at 12.
Finally -- and here's the Tommy Lee Jones part -- the court rejected the city's argument that it could not be liable for a taking because the slough buffer was a really good idea. The city asserted that the trial court should have applied the Penn Central three-factor ad hoc regulatory takings test, and not the per se Lucas test. Penn Central allows inquiry into the "character of the government action" (whatever that means), and some have argued this permits the government to argue that there is no taking because the regulations serve some public good.
No dice, held the court of appeals, in Lucas, "the United States Supreme Court held that in a takings case, where the property owner challenges a regulation as denying all economically beneficial or productive use of land, the regulatory action is 'compensable without a case-specific inquiry into the public interest advanced in support of the restraint.'" Slip op. at 9 (quoting Lucas v. S.C. Coastal Council, 505 U.S. 1003, 1015 (1992)):
Under the Lucas/Guimont analysis, if the City’s regulation of the Dunlaps' property results in a total taking, the Dunlaps are entitled to just compensation regardless of the public interest advanced in support of the restraint, unless the City can meet a rebuttal test. Under the rebuttal test, if the Dunlaps establish that the regulation of their quarter-acre tract has denied all economically viable use of the property, the City can avoid paying compensation only by identifying "'background principles of nuisance and property law that prohibit the uses [the owner] now intends in the circumstances in which the property is presently found.'" "In other words, the [City] must show the proscribed use interests were not part of the owner’s title to begin with." If the Dunlaps prove a total taking and the City fails to rebut that claim, then the Dunlaps are entitled to compensation without any case-specific inquiry into the legitimacy of the public interest supporting the regulation.
Slip op. at 9-10 (emphasis added) (footnotes and citations omitted).
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October 29, 2010

CDFI Fund Opens FY 2011 Round of NACA Program

CDFI Fund Opens FY 2011 Round of NACA Program
$10 Million Available for Organizations Serving Native Communities

Washington, DC - Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released the fiscal year (FY) 2011 Notice of Funding Availability (NOFA) for its Native American CDFI Assistance (NACA) Program. This NOFA officially opens the FY 2011 NACA Program funding round.
"I'm proud to see the CDFI Fund already accomplishing many of the objectives outlined in our five-year Native Initiatives Strategic Plan that was launched in 2009," said CDFI Fund Director Donna J. Gambrell.  "The NACA Program plays a critical role in our commitment to support Native Communities and the efforts by the CDFI Fund will ensure that the number and the capacity of Native CDFIs will continue to increase nationwide."
The FY 2011 NACA Program funding round makes approximately $10 million, subject to final Congressional appropriations, available in awards to Native CDFIs, and entities proposing to become or create Native CDFIs, that primarily serve Native American, Alaskan Native or Native Hawaiian communities (Native communities).
Organizations wishing to apply for Financial or Technical Assistance under this funding round of the NACA Program may find more detailed information about the program and application below. The CDFI Fund will also hold a workshop in Denver, Colorado to further explain the application process. Those who may not be able to attend the workshop in Denver can access a pre-recorded version of the workshop on the CDFI Fund’s website. 
NACA Program Overview
In 2004, the CDFI Fund introduced the NACA Program, which was specifically designed to encourage the creation and strengthening of CDFIs that primarily serve Native communities. Organizations funded serve a wide range of Native communities, and reflect a diversity of institutions in various stages of development – from organizations in the early planning stages of creating a CDFI, to tribal entities working to certify an existing lending program, to established CDFIs in need of further capacity building assistance.
Two types of funding are available through the NACA Program: 1) Financial Assistance awards available only to certified CDFIs and primarily used for financing capital; and 2) Technical Assistance grants used to build the capacity of CDFIs or organizations on track to become or establish a CDFI within three years.
Since 2002, the CDFI Fund has made 220 awards totaling $46.8 million through its various funding programs benefiting Native communities.  Today, there were 59 certified Native CDFIs. In addition, the CDFI Fund has awarded over $8 million in contracts to organizations that provide capacity-building and financial services training programs focused on Native Communities.
Important Deadlines
  • Certification Application: December 2, 2010
  • Material Event Form: December 02, 2010
  • NACA Program Application: December 22, 2010
Application Materials
The CDFI Fund has posted the NOFA and application materials on the Grants.gov website in advance of the NOFA’s publication in the Federal Register on November 03, 2010 to provide applicants as much time as possible to submit an application. Applicants are urged to read all application materials. Additional guidance and reference copies of the application materials can also be found on the CDFI Fund's website by clicking here.  
All Applicants must submit their applications electronically through Grants.gov.  The CDFI Fund will not accept NACA Program applications through myCDFIFund accounts nor will applications be accepted via email, mail, facsimile, or other forms of communication.  Please see the NOFA for more information on submitting the NACA Program application, the Certification application and the Material Events Form.
Learn About Applying to the FY 2011 NACA Program Application
Those interested in learning more about the FY 2011 NACA funding round can do so in the following ways:
  • Pre-recorded Webinar Application Workshop: The CDFI Fund has recorded the application workshop, which covers the same material that will be presented during the application workshop in Denver. This webinar can be viewed immediately at the following link below:
  • In-Person Application Workshop: The CDFI Fund is sponsoring one in-person NACA Program application workshop. The CDFI Fund’s Native Initiatives staff will conduct the workshop, and will be available to answer participant questions.
November 9, 2010
9:00 AM – 12:00 PM (MST)

Federal Reserve Bank of Kansas City, Denver Branch
1020 Sixteenth Street
Denver, CO 80202

Registration: Due to security requirements at this federal facility, anyone wishing to attend an application workshop must register through the CDFI Fund's online registration system.  Individuals who do not pre-register before the applicable registration deadlines and thus do not appear on the registration list for the facility will not be admitted.
The registration period is currently open. To register, please visit: http://www.cdfifund.gov/news_events/workshopregistration.asp.
Questions
For more information on the NACA Program, the webinar or the application workshop, please contact the CDFI Fund Help Desk at cdfihelp@cdfi.treas.gov.
CDFI Fund Background
The CDFI Fund invests in and builds the capacity of community-based, private, for-profit and non-profit financial institutions with a primary mission of community development in economically distressed communities. These institutions – certified by the CDFI Fund as community development financial institutions or CDFIs – are able to respond to gaps in local markets that traditional financial institutions are not adequately serving. CDFIs provide critically needed capital, credit and other financial products in addition to technical assistance to community residents and businesses, service providers, and developers working to meet community needs.
The CDFI Fund's vision is an America in which all people have adequate access to affordable capital, credit and financial services.
For more information about these awards, or about the CDFI Fund and its programs, please visit the Fund's website at: http://www.cdfifund.gov.
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Public Engagements Schedule for Week of November 1-5, 2010

Public Engagements Schedule for Week of November 1-5, 2010
 
Tuesday, November 2, 2010             
9:45 AM - 10:15 AM (PST)

 

Native Initiatives Associate Program Manager Chris James

 

Mr. James will participate in a discussion on the state of the Native CDFI industry during the Opportunity Finance Network Conference 7th Annual Native Gathering. 

 

Hyatt Regency San Francisco
5 Embarcadero Center
San Francisco, California

 

This event is open to the press. Interested members of the media should contact Jacqueline Fox at (215) 320-4313 or at jfox@opportunityfinance.net.

 

Wednesday, November 3, 2010             
4:00 PM - 5:30 PM (PST)

 

Native Initiatives Associate Program Manager Chris James

Mr. James will participate on the “Native CDFI Funders” panel at the Opportunity Finance Network Conference. This session will highlight funding sources available for Native CDFIs including other federal funding, foundation support and coordination with Native non-profit lenders.

 

Hyatt Regency San Francisco
5 Embarcadero Center
San Francisco, California

 

This event is open to the press. Interested members of the media should contact Jacqueline Fox at (215) 320-4313 or at jfox@opportunityfinance.net.

 

Thursday, November 4, 2010
12:30 PM (PST)

 

CDFI Fund Director Donna J. Gambrell

 

Director Gambrell will be the keynote luncheon speaker at the 2010 Opportunity Finance Network Conference in San Francisco, California. Director Gambrell’s remarks will highlight the CDFI Fund’s accomplishments over FY 2010 and its plans for FY 2011, and will address how the CDFI Fund’s programs are helping to resolve some of the challenges that many underserved communities and small businesses are currently facing as a result of the economic environment.

 

The Hyatt Regency San Francisco
5 Embarcadero Center
San Francisco, California

 

This event is open to the press. Interested members of the media should contact Donna Fabiani at (202) 297-1619 or at dfabiani@opportunityfinance.net.

 

 

Thursday, November 4, 2010
4:00 PM - 5:30 PM (PST)

 

Acting Program Manager New Markets Tax Credits Rosa Martinez

Ms. Martinez will participate on the “NMTC 101” panel at the Opportunity Finance Network Conference. This session will provide information on what it takes to apply to the NMTC Program and, for successful applicants, how to manage a NMTC allocation.

 

Hyatt Regency San Francisco
5 Embarcadero Center
San Francisco, California

 

This event is open to the press. Interested members of the media should contact Jacqueline Fox at (215) 320-4313 or at jfox@opportunityfinance.net.

 

 

Friday, November 5, 2010
9:00 AM - 10:30 AM (PST)

 

Financial Strategies & Research Manager Greg Bischak

Mr. Bischak will participate on the “CDFI Industry Research, The MacArthur Foundation Research Studies and CDFI Evaluation Initiative” panel at the Opportunity Finance Network Conference. The CDFI Fund and the MacArthur Foundation are each supporting a number of research efforts related to assessing the impact of CDFIs.

 

Hyatt Regency San Francisco
5 Embarcadero Center
San Francisco, California

 

This event is open to the press. Interested members of the media should contact Jacqueline Fox at (215) 320-4313 or at jfox@opportunityfinance.net.
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October 28, 2010

Holmes v. Summer (2010) 188 Cal.App.4th 1510,

Summary:

 

By Glen C. Hansen

 

 

In Holmes v. Summer (2010) 188 Cal.App.4th 1510, the Court of Appeal for the Fourth Appellate District held that when a real estate agent or broker for a seller is aware that the amount of existing monetary liens and encumbrances exceeds the sales price of a residential property, so as to require either the cooperation of the lender in a short sale or the ability of the seller to put a substantial amount of cash into the escrow in order to obtain the release of the monetary liens and encumbrances affecting title, the agent or broker has a duty to disclose this state of affairs to the buyer, so that the buyer can inquire further and evaluate whether to risk entering into a transaction with a substantial risk of failure.

 

 

 

View the entire entry:

 

http://blog.aklandlaw.com/2010/10/articles/real-estate/sellers-broker-has-duty-to-inform-buyer-that-property-is-so-overencumbered-that-escrow-will-likely-not-close/index.html

 

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October 26, 2010

Office and Industrial Property Values Showing Signs of Stabilization

LOGO For invite
 
 Office and Industrial Property Values Showing Signs of Stabilization
Integra Realty Resources releases national 3Q 2010 Commercial Property Index
NEW YORK-October 26, 2010-Commercial real estate property values, with the exception of retail, have experienced continued improvement in the past quarter according to the results of Integra Realty Resources' (Integra) 3Q 2010 Commercial Property Index . This survey uses Integra's extensive national database and a polling system to determine the rate of change in property values across the country and in all property types, including multifamily, lodging, industrial, retail, and office. Integra is North America's largest independent commercial real estate consulting firm that specializes in the valuation of commercial real estate.
"The big news is that the office and industrial sectors are showing signs of stabilization," said Jeffrey Rogers, President and COO of Integra Realty Resources. "Having registered slight declines over the past three months, office and industrial values are expected to trend sideways over the next six months. As predicted in our previous 2Q 2010 Commercial Property Index, the multifamily sector has bounced back. That being said, retail properties are still showing signs of weakness and stabilization will not likely be reached until late 2011."
This quarter's survey shows that lodging (-8 percent) and retail (-8 percent) property experienced the greatest declines in value over the past 12 months. In the past quarter, the multifamily sector is the only sector that increased in value (2 percent). The retail and industrial sectors' rate of decline was the same as last quarter (-1 percent), and the office sector (-2 percent) and the lodging sector (-1 percent) also experienced minor declines in value.
The good news is that in the next six months, only the retail sector is expected to experience a rate of decline (-1 percent), while the multifamily sector is projected to increase in values of 2 percent. Office, industrial and lodging sectors are expected to stabilize without any increase or decrease in value.
When comparing the regions, the East has continually demonstrated the best performance, with its multifamily sector increasing 4 percent in value in the past quarter. The West has performed the worst, with its office sector experience a -6 percent rate of decline and its industrial sector experience a -4 percent rate of decline.
In the next six months, property values are expected to increase across all property sectors in the East, from 1 percent for office, retail and industrial sectors, to 2 percent for the lodging sector and 3 percent for the industrial sector. In the Southern region of the country, all industry sectors are displaying signs of stabilization, with the multifamily sector experiencing an increase of 2 percent. The Central region also shows signs of recovery with office and lodging sectors stabilizing, the multifamily and industrial sectors increasing (2 percent), and retail experiencing a rate of decline (-2 percent). Western multifamily is expected to increase (1 percent), while the industrial and lodging sectors experience a decrease of -2 percent in value and office and retail experiencing a decline of -3 percent.
The Integra survey also shows that commercial real estate continues to be recessionary. The Western and Central regions of the country have held steady with 49 percent and 39 percent, respectively, classified as distressed assets. Southern distressed assets decreased from 52 percent in 2Q 2010 to 45 percent this quarter and Eastern distressed assets decreased from 35 percent to 27 percent.
ABOUT INTEGRA REALTY RESOURCES, INC. (IRR)
With corporate offices in New York City, Integra Realty Resources, Inc. is an independent real estate valuation and consulting firm that offers local expertise on a national scale with 59 offices and 850 credentialed consultants and staff located across the United States and in Mexico. Founded in 1999, the Firm specializes in real estate appraisals, feasibility studies, market studies, expert testimony, and related property consulting services. Many of the nation's largest and most prestigious financial institutions, developers, corporations, law firms, and government agencies are among its clients. Because of the high quality of its professionals, integrated systems, and state-of-the-art technology IRR is capable of handling a wide array of assignments and producing high quality, meaningful results on a timely basis. Please call Integra for your next assignment or visit us at www.IRR.com.
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From: American Housing Survey (AHS) ListServ

From: American Housing Survey (AHS) ListServ <ahs@huduser.org>

 

Cityscape is a scholarly journal published three times per year by the U.S. Department of Housing & Urban Development's Office of Policy Development and Research (PD&R). You can read more about it an access past issues at http://www.huduser.org/periodicals/cityscape.html. I am the editor of the Data Shop department, which publishes short (3000 word) articles on the use of data in housing and urban research. Data Shop articles are aimed at researchers in these fields and intended to alert them to new data, novel applications of existing data, and the operational difficulties of data use. The official description of the department runs:

 

"Data Shop, a department of Cityscape, presents short articles or notes on the uses of data in housing and urban research. Through this department, PD&R introduces readers to new and overlooked data sources and to improved techniques in using well-known data. The emphasis is on sources and methods that analysts can use in their own work. Researchers often run into knotty data problems involving data interpretation or manipulation that must be solved before a project can proceed, but they seldom get to focus in detail on the solutions to such problems."

 

If you are interested in contributing such a note, please send me an abstract by November 12 in order to be considered for the July 2011 issue. The timeline would be I would notify you of selection by December 3, and I would want a draft by February 1, with a final version by February 18. If you are interested in making a contribution but cannot meet these deadlines, please send me an abstract for possible publication in later issues.

 

Dav Vandenbroucke
Senior Economist
U.S. Dept. HUD
david.a.vandenbroucke@hud.gov
202-402-5890

 

I disclaim any disclaimers
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October 25, 2010

Amicus Brief In Columbia Eminent Domain Case: What Level Of Scrutiny Does Kelo Require?

Amicus Brief In Columbia Eminent Domain Case: What Level Of Scrutiny Does Kelo Require?
Posted: 24 Oct 2010 12:13 PM PDT
The Pacific Legal Foundation has filed an
amicus brief in Tuck-It-Away, Inc. v. New York State Urban Dev. Corp., No. 10-402 (cert. petition filed Sep. 21, 2010), the case in which upper Manhattan property owners have asked the U.S. Supreme Court to review the decision of the New York Court of Appeals in the Columbia "blight" case, Kaur v. New York State Urban Development Corp., No. 125 (June 24, 2010).
This is the case in which the Court of Appeals held that de novo judicial review of the factual record leading to an exercise of the eminent domain power was improper, and whether property can be taken because it allegedly is "substandard or insanitary" is a question for taking agencies, not courts. The record in that case contains fairly convincing evidence that the proffered public use for the takings were not the actual reason, and the Appellate Division concluded that the taking was not valid.
As we noted in several posts criticizing the Court of Appeals' decision (see here and here) and in a post lauding the Appellate Division's decision, "in other words, 'blight' is whatever the agency says it is. Just drum up a 'study' or two, and you're insulated from judicial review."
The PLF brief addresses a single Question Presented:
Under what circumstances does the higher scrutiny described in Justice Kennedy’s concurring opinion in Kelo v. City of New London, 545 U.S. 469 (2005), apply, and what does such scrutiny encompass?
The brief points out that the Kelo majority opinion -- and Justice Kennedy's concurring opinion (which provided the fifth and conclusive vote) -- requires that trial courts take seriously allegations that the condemnor's claimed reason for a taking is not the actual reason. The brief notes that several courts, including most notably the courts of New York, have not paid heed to Kelo's "authorization of heightened scrutiny." Br. at 6-11. Even those courts that adhere to Kelo's mandate, the brief suggests, have been "inconsistent" in what level of judicial scrutiny to apply. 
Download the PLF brief here. The Court's docket report is here.
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What does CRE Console do?

What does CRE Console do?

October 18th, 2010  ::  Posted by CRE Console

CRE Console is designed for commercial real estate brokers selling income-producing properties of $2 million and greater.

We have created a simple and secure platform for marketing your properties, using the latest technology and cutting-edge online marketing techniques.

Our current features include:

  • Property e-mails and websites. Our software designs highly professional, corporately branded property emails and websites for you in no time.
  •  

  • Detailed investor database. Using one of the most detailed investor lists available anywhere, we’ll match your property against our database of more than 50,000 principal investors.
  •  

     

  • Electronic availability announcements. Send electronic marketing announcements to promote a single property or even a “Hot Sheet” of all your listings. We’ll even test email campaigns against the most popular spam filters to ensure the highest possible e-mail delivery rates.
  •  

     

  • Online CAs and due diligence centers. Your properties will have electronic confidentiality forms linked to a straightforward, easy-to-use document center. We’ll even email you each time a new CA is executed.
  •  

     

  • Highly detailed tracking info. Enjoy one of the most advanced response tracking reports in the industry, showing you (in real time!) who opened your messages, visited your property web page, and downloaded which documents.
  •  

  • NEW FEATURE: Automated investor reporting. CRE Console has designed a proprietary and automated investor reporting application which generates all your client reports with only a few clicks of a mouse. Then, we automatically update the report in real time. View an example.
  •  

     

  • NEW FEATURE: Featured property banner ads. Brokers can elect to have their property featured on our blog to gain even more market exposure to commercial real estate investors and brokers. This banner ad is in a Flash-based format and includes both a text description and property photos and is linked directly to your property website.

     

    You may see an example in the upper right hand corner of this page. This same banner ad can even be displayed on your own personal blog.

So what does this mean for you? CRE Console provides these user-friendly and best-in-class marketing practices, so that you can focus on what is most important part: closing the sale.

Interested in learning how CRE Console can become a part of your team? Please contact us directly.

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Capstone Course: Real Estate Project Workshop

Capstone Course: Real Estate Project Workshop

The “Real Estate Project Workshop,” also known as the “Capstone Course” is a major highlight of Cornell’s Program in Real Estate (PRE).  The PRE requires all second-year students to participate in the Capstone experience during the spring semester.  This class involves a semester-long applied project that integrates what real estate students have learned to date during their course of study.

The Capstone Course is led by Professor Mark Foerster, a seasoned real estate executive with diverse experience in both acquisitions and development. Mr. Foerster is currently the Executive Vice President of Northern Capital Group, a real estate investment, management and development company based in Rochester, New York. He is also the Executive Vice President of Macerich East Development, LLC; the east coast development affiliate of The Macerich Company, a NYSE-traded retail REIT. Among Mr. Foerster’s real estate achievements is the rezoning and subsequent development of 3.5 million feet of mixed-use space in Tysons Corner Center in McLean, Virginia, one of the premier enclosed regional malls in the U.S.

Mr. Foerster commented on the benefits associated with the course, “The Capstone course gives students an opportunity to take the vast real estate knowledge and skills that they have developed at Cornell, and apply that knowledge and those skills in an actual situation, with a real client who is seeking advice on the development or redevelopment options for a property that they own.” Students work in teams to prepare an analysis for a specific real estate development project.  They are presented with an actual site, and work for a real client. Each team prepares a professional quality report that includes market research, site analysis, architectural design, branding and marketing strategies, financial analysis, financing and equity investment considerations, and projected investment returns.  The project culminates with written and oral presentations including recommendations for the development project. Each team’s deliverable to the client includes an 80-90 page report, a power point presentation, and financial models in Excel.  In addition, many teams prepare architectural models and animations or “fly-throughs.”

Foerster is currently working with site owners to identify a project for the spring 2011 course.  He is looking in New York City, Philadelphia and Washington, D.C.. Past projects include a Boston Properties owned-site in Reston, VA and a Macerich owned-site in Tysons Corner, VA. Last year’s sites were both an 8.5 acre site owned by The Akridge Company and a 4.0 acre site owned by William C. Smith & Company, both located in the Capitol Riverfront/Navy Yard area of Washington, D.C.  The Capitol Riverfront/Navy Yard area is bordered by the Capitol Building on the north and the Potomac River on the south, and includes the Washington Nationals baseball stadium and excellent public transit options.

Based on the diverse market demand at past sites, these projects tend to lend themselves to a mix of property uses. The complexity associated with mixed-use projects leads to a myriad of issues the students must understand and appropriately address during the course. Students find that the wide range of issues, the mix of uses, and the all-encompassing nature of the course are all factors that lead to a culminating experience that focuses the skills and education that they gained while attending Cornell’s Program in Real Estate

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October 23, 2010

REALTOR.com®

REALTOR.com® puts real estate listings for thousands of commercial properties for sale and for lease at your fingertips in regions across the United States.

Simply enter a city and state in our search bar to gain access to REALTOR.com’s® database of commercial real estate listings and other investment properties currently on the market. So whether you’re looking for commercial real estate in Houston or detailed Grand Rapids commercial property listings, look no further than REALTOR.com®.

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Welcome to The Source for Commercial Real Estate

Welcome to The Source for Commercial Real Estate

Conversation. Comments. Connections.

Our goal in creating this blog is to be the place for commercial real estate practitioners to share their views and perspectives on current industry news, issues and frankly – about what is going on in your market area.

The CommercialSource.com website exists to be an aggregator of commercial property listings, news, resources – and you.   Here we’ll post industry data, new technologies and articles on relevant issues.   You’ll find insight and commentary on legislative advocacy, information and analysis on trends, and tips on how to use new tools to help you in your daily business practices.     We’ll also share with you thoughts from the road – as we take CommercialSource.com to various industry conferences and REALTOR® conventions.     And, there will be a recurring Member Spotlight  - where you can be the featured post!  Look for details at the end of this week on how you can participate in this interactive feature.

One of the things you’ll notice about the layout of this blog, along the right-hand side of the page, is a Twitter feed of our “tweets” from @commsource – the voice of NAR’s Commercial team, and CommercialSource.com.    Keep up with our daily conversation, by following us there – and, if you are unfamiliar with Twitter and how to get started, we can help.

We’d love to hear what you want to see here – Share your comments and feedback!

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The Federal Circuit's Economic Failings Undo The Penn Central Test

The Federal Circuit's Economic Failings Undo The Penn Central Test
Posted: 22 Oct 2010 01:46 PM PDT
40.10914_Page_1The first task under the Supreme Court's three-part test for an ad hoc regulatory taking under Penn Central is to measure the "economic impact of the regulation." Professor Steven Eagle wrote in the recent edition of his treatise Regulatory Takings that "[d]iscerning the correct measure of economic impact has been the subject of much dispute."
Thanks to the folks at the Environmental Law Institute, who have allowed us to reprint an article from a recent Environmental Law Reporter which brings some clarity to the subject.
In Federal Circuit's Economic Failings Undo the Penn Central Test, William W. Wade, Ph.D., a resource economist with the firm Energy and Water Economics (Columbia, Tennessee), argues:
Faulty understanding of standard economic and financial analysis within regulatory takings cases continues to set this jurisprudence apart from standard tort cases, where state of the art economic methods typically are applied within both liability and damages phases of the trial. Clear examples of economic nonsense can be found in three recent decisions by the U.S. Court of Appeals for the Federal Circuit that ignored competent economic evidence within the Penn Central test to overturn temporary takings decisions. The Federal Circuit’s flip-flop between its 2003 decision in Cienega Garden VIII and its more recent decisions in Cienega Gardens X, Rose Acre Farms, and CCA reveals both misapplication of "parcel as a temporal whole" from Tahoe Sierra, a Lucas case, to Penn Central cases and faulty use of valuation methods appropriate for real property to evaluate the severity of economic impact of temporary business income losses. Confused legal theories cannot be shoehorned into standard economic methods essential to evaluate the Penn Central test.
Download the complete article here.
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October 22, 2010

FHA Unveils New FAQs
The Federal Housing Administration (FHA) last week unveiled a new list of frequently asked questions (FAQ ).  The 26 page document covers a variety of topics on several FHA programs. Read more...
http://appraisalinsight.blogs.realtor.org/2010/10/18/fha-unveils-new-faqs/?&WT.mc_id=LS102010&CAT=App

Federal Reserve Board Issues Appraiser Independence Regs
On 10/18/2010, the Federal Reserve Board released an interim final rule on appraiser independence.  The much-anticipated interim final rule is required by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111-203). Read more...
http://appraisalinsight.blogs.realtor.org/2010/10/19/federal-reserve-board-issues-appraiser-independence-regs/?&WT.mc_id=LS102010&CAT=App

COMMERCIAL ISSUES
Right Tools, Right Now - The Fundamentals of Listing and Selling Commercial Real Estate Available At-cost
Get a complete foundation for a career in Commercial Real Estate Industry with this publication available at-cost through Right Tools, Right Now. There's still time to take advantage of over 400 free and at-cost NAR products and services - initiative ends December 31, 2010. Visit REALTOR.org/RightTools today.  Read more...
http://www.realtor.org/prodser.nsf/RightTools/Commercial?OpenDocument&wt.mc_id=rt1288&WT.mc_id=LS102010&CAT=Comm
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Public Engagements Schedule for Week of October 25-29, 2010
October 22, 2010
CDFI Fund 15th Anniversary Logo
 
Public Engagements Schedule for Week of October 25-29, 2010

Monday, October 25, 2010
6:00 PM (EDT)

CDFI Fund Director Donna Gambrell
Director Gambrell will be the keynote speaker at the Community Loan Fund of the Capital Region's 25th Anniversary Celebration in Albany, New York. Director Gambrell’s remarks will emphasize the importance and effectiveness of the work that CDFIs are doing in the state of New York and across the nation. Community Loan Fund of the Capital Region (formerly known as Capital District Community Loan Fund) is one of the oldest Community Development Financial Institutions in the country. Director Gambrell will be introduced by Congressman Paul Tonko (NY-21).

New York State Capitol
Governor's Reception Room
State Street at Capitol Park
Albany, NY 
 
This event is open to the press. Interested members of the media should contact Lissa D'Aquanni at (518) 436-8586 or at Lissa@cdclf.org.



Tuesday, October 26, 2010
9:00 AM -12:00 PM (PDT) and
1:00 PM – 4:00 PM (PDT)

CDFI Program Manager Ruth Jaure
CDFI Program Associate Manager James Yagley
Ms. Jaure and Mr. Yagley will conduct two application workshops, and be available to answer questions regarding the FY 2011 CDFI Program. The Financial Assistance application workshop will be conducted from 9:00 AM to 12:00 PM, and the Technical Assistance application workshop will be conducted from 1:00 PM to 4:00 PM.
Federal Reserve Bank of San Francisco
Los Angeles Branch                           
950 Grand Avenue                     
Los Angeles, CA
Registration for this workshop has closed.


Thursday, October 28, 2010
10:45 AM – 12:15 PM (EDT)

CDFI Program Associate Manager James Yagley
Mr. Yagley will conduct a workshop entitled “What Is a CDFI and How Does My Agency Become One” at the 2010 Community Investment Futures Annual Conference. The workshop is designed to provide an overview of the CDFI Fund and the steps that are needed to become a certified CDFI. The Community Investment Futures conference combines training in the fundamental skills organizations need to build more sustainable, affordable communities with analysis and practical visions of economic growth.
Renaissance Vinoy Hotel                                                 
501 Fifth Avenue NE                                            
St. Petersburg, FL
This event is open to the press.  Interested members of the media should contact Kellie Baker at 202-842-2092 or kelliebaker@ncaf.org.


Friday, October 29, 2010
9:00 AM – 12:00 PM (PDT) and
1:00 PM – 4:00 PM (PDT)

CDFI Program Manager Ruth Jaure
CDFI Program Portfolio Manager Candace Coram
Ms. Jaure and Ms. Coram will conduct two application workshops, and be available to answer questions regarding the FY 2011 CDFI Program. The Financial Assistance application workshop will be conducted from 9:00 AM to 12:00 PM, and the Technical Assistance application workshop will be conducted from 1:00 PM to 4:00 PM.
Federal Reserve Bank of Atlanta
1000 Peach Street N.E.
Atlanta, GA
The registration period for this workshop is currently open.  To register, please visit: http://www.cdfifund.gov/news_events/workshopregistration.asp.

You
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Materials And Links From The Webconference "Eminent Domain After Kelo"

Materials And Links From The Webconference "Eminent Domain After Kelo"
Posted: 22 Oct 2010 12:16 AM PDT
Here are the slides that I used and links to the cases I discussed in "The Whacky and Wonderful World of Eminent Domain After Kelo."
My presentation was entitled "Schlimmbesserung - Eminent Domain for Redevelopment."
Schlimmbesserung is one of those wonderful German compound words that have no direct translation into English, and means "worsening by improvement." That term summed up for me how several of the more notorious efforts to use eminent domain in redevelopment efforts have fared (e.g., Poletown, Kelo). Professor Gideon Kanner recently posted some thoughts on "redevelopment blunders" here.
Joining me on the panel was Andrew W. Schwartz, a partner in San Francisco's Shute, Mihaly & Weinberger, who suggested that redevelopment was good, and that eminent domain was a necessary part of the process when market forces break down, or there are holdouts. The session was moderated by John Clapp, Ph.D. of the UConn Center for Real Estate, and Michele Maresca, a land use attorney at Robinson and Cole in Hartford.
I'm usually reluctant to post slides from presentations without the accompanying narration, but we received quite a few requests, so here you go. Some of the slides lack context, but I'll bet you get the drift in most of them. Links to the cases below the window.
download slides from the 10-21-2010 webconference
Eminent Domain After Kelo
View more presentations from inversecondemnation.
Here are links to the cases I mentioned (and some which I did not have time to discuss, but wish I did):
§ Uptown Holdings, LLC v. City of New York, No. 2882 (Oct. 12, 2010) (notable for Judge Catterson's concurring opinion: "[T]here is no longer any judicial oversight of eminent domain proceedings [in New York]."
§ 49 Wb, LLC v. Village of Haverstraw, 44 A.D.3d 226 (2007), a case in which the Appellate Division invalidated a taking because the condemnor's "sole purpose [was] assisting private entities by means of condemnation."
§ The cert petition in Tuck-It-Away, Inc. v. New York State Urban Dev. Corp., which seeks U.S. Supreme Court review of the New York Court of Appeals' decision in the Columbia "blight" case, Kaur v. New York State Urban Development Corp., No. 125 (June 24, 2010).
§ County of Hawaii v. C & J Coupe Family Ltd. P’ship, 198 P.3d 615 (Haw. 2008) - the Kelo majority opinion requires a trial court to take seriously a property owner’s claim that the government’s proffered reasons for condemning private property is really just a pretext hiding private benefits
This seminar was part of the 2010 Real Estate Teleconference Series sponsored by the Counselors of Real Estate, the University of Connecticut, and Robinson & Cole.
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October 21, 2010

6.079 / 6.975 Introduction to Convex Optimization

6.079 / 6.975 Introduction to Convex Optimization

As taught in: Fall 2009

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4.42J / 1.044J / 2.66J Fundamentals of Energy in Buildings

4.42J / 1.044J / 2.66J Fundamentals of Energy in Buildings

As taught in: Fall 2008

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AIA/HUD Secretary's 2011 Awards Program Announcement

AIA/HUD Secretary's 2011 Awards Program Announcement
Applications for the 2011 Housing and Urban Development Design Awards program are currently being accepted by the Residential Knowledge Community of the American Institute of Architects (AIA), in conjunction with the Office of the Secretary of Housing and Urban Development. These annual awards recognize excellence in affordable housing, community-based design, participatory design, and housing accessibility.
Award recipients will have their projects publicized by HUD and in AIA's online newsletter, AIArchitect, at
info.aia.org/aiarchitect/. The winning designs will also be honored at the 2011 AIA National Convention in New Orleans, on May 12–14.
Applications are due December 10, 2010. The criteria and instructions for online submissions are located at http://www.aia.org/practicing/awards/AIAS075324. Questions should be directed to AIA at (202) 626-7586 or by email to honorsawards@aia.org. Go to http://www.huduser.org/portal/research/secaward.html#des to read about past winners.
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Ending Too Big To Fail

The remarks by FDIC Chairman Sheila C. Bair: “Ending Too Big To Fail: The FDIC and Financial Reform” at the 2010 Glauber Lecture at the John F. Kennedy Jr. Forum; Harvard University in Cambridge, MA delivered on October 20, 2010 are available at the following link:

 

http://www.fdic.gov/news/news/speeches/chairman/spoct2110.html

 

FDIC speeches, testimony, and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200).

 

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October 20, 2010

THROW THE BUMBS OUT - Subject: Re: FRB-Congressman Kanjorski

THROW THE BUMBS OUT

Subject: Re: FRB-Congressman Kanjorski

Kanjorski is a supporter of the The Appraisal Institute, however is a strong Supporter of the AFI. Kanjorski is aware now that the AI only represents about 28% of Appraisers and only 7% of those actually perform appraisals, whereas the AFI represents everyone else.

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Group: SoCal Real Estate Group

LinkedIn Groups

  • Group: SoCal Real Estate Group
  • Subject: Upcoming Events in L.A.
I thought I'd send out a note about a couple of upcoming commercial real estate events in L.A.:

I’ll be having my next commercial real estate cocktail mixer in Santa Monica next Wednesday evening, October 27. We're expecting 500+ people and it should be a great time, so feel free to stop by for a drink after work. Attendance is free - see details at www.ladealmakers.com/oct27.

Also, for those interested in hotel deals, I highly recommend attending IMN’s upcoming Distressed Hotel conference, November 8-9. It's an outstanding event, so hopefully I'll see you there. Details are at www.imn.org/distressedhotels_cbp.
Posted By Jake Little
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October 19, 2010

EPA to Provide Technical Assistance on Sustainable Growth and Development

CONTACTS:
Stacy Kika
Kika.stacy@epa.gov
202-564-0906
202-564-4355

 

FOR IMMEDIATE RELEASE
October 19, 2010

 

 

EPA to Provide Technical Assistance on Sustainable Growth and Development

 

WASHINGTON – The U.S. Environmental Protection Agency (EPA) has chosen eight communities to receive technical assistance on sustainable growth and development issues.  The assistance will help local governments address infrastructure constraints, protect water quality, set development standards, and create options for housing and transportation. EPA will work in collaboration with its partners at the Department of Housing and Urban Development (HUD) and Department of Transportation (DOT) to help communities become more environmentally and economically sustainable as part of the agency’s broader work through the Partnership for Sustainable Communities.

 

”EPA is building partnerships with communities from across the country, in rural, suburban and urban areas, to help them develop in ways that are environmentally sustainable and economically resilient,” said EPA Administrator Lisa P. Jackson.  “This assistance will help local residents protect their health and the environment, all while strengthening their ability to attract new businesses and new jobs.”

 

The smart growth assistance projects will focus on key topics central to the partnership’s work: cross-departmental coordination of sustainability policies, cities undergoing economic transition, infrastructure financing, historic preservation as part of downtown revitalization and, incorporating climate change adaptation as part of long-term plans.

 

The projects will be based in Washington, D.C.; Saginaw, Mich.; Wheat Ridge, Colo.; Chicago, Ill.; Salt Lake City, Utah; Concord, N.H.; Cumberland and Cobb counties in Ga.; and a statewide project in Rhode Island. 

 

The projects are being coordinated through the Partnership for Sustainable Communities, which began in June 2009, with EPA Administrator Lisa P. Jackson, HUD Secretary Shaun Donovan, and DOT Secretary Ray LaHood coming together to coordinate federal actions on housing, transportation, and environmental protection.  This interagency collaboration achieves efficient federal investments in infrastructure, facilities, and services that meet multiple economic, environmental, and community objectives. 

 

The partnership has released a new publication that looks at the progress the agencies have made in the first year.  The document explains how the partnership has targeted resources to help communities strengthen their economies by developing more sustainably and removing regulatory and policy barriers to make it easier for state and local governments to access federal resources.

 

More information on the Smart Growth Assistance Program: http://www.epa.gov/smartgrowth/sgia.htm

 

More information on the partnership: http://www.epa.gov/smartgrowth/partnership/index.html

 

View the partnership progress report:   http://www.epa.gov/smartgrowth/pdf/partnership_year1.pdf

 

R348
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October 18, 2010

10/21/2010 Webconference: Eminent Domain After Kelo

10/21/2010 Webconference: Eminent Domain After Kelo

On Thursday, October 21, 2010, from noon to 1:00 p.m. EDT, please tune in for the free web conference "The Whacky and Wonderful World of Eminent Domain After Kelo."
I'm not sure I can live up to making eminent domain "whacky and wonderful," but I will be speaking about what the Court in Kelo really decided, and how courts in the intervening five years have viewed the decision. We will be looking at cases from New York, D.C., Hawaii, and Pennsylvania, among others.
Joining me on the panel will be Andrew W. Schwartz, from San Francisco's Shute, Mihaly & Weinberger. The session will be moderated by John Clapp, Ph.D. of the UConn Center for Real Estate, and Michele Maresca, a land use attorney at Robinson and Cole in Hartford. Here's the description of the program:
Kelo v. City of New London has been viewed by property rights advocates as the virtual gutting of the Fifth Amendment's limits on the use of eminent domain for transfer to private developers, while advocates of governmental and redevelopment authority power have argued that the decision was simply the continuation of long-standing takings doctrine. Which is it? With the perspective that five years provides, this webinar will look at what the Court decided and what it didn't and recent cases where eminent domain was used for public/private partnerships.
This seminar is part of the 2010 Real Estate Teleconference Series sponsored by the Counselors of Real Estate, the University of Connecticut, and Robinson & Cole.
Did I mention that the registration fee is $0, and that all you need do is register as instructed on this form? Hope you can join us.
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Dear Customer:

We would like to invite you to attend the upcoming FREE seminars taking place in Santa Clarita and Ventura.

How to Conduct An Energy Efficiency Site Survey
REGISTER TODAY!
Date                       Friday, November 5, 2010
Time:                        8:30 a.m. – 3:00 p.m. (Continental Breakfast & Lunch provided)
Event:                #A6881
Cost:                  $2.00 Parking Fee (Lot #14, pay at the Kiosk, exact change only)

Location:           College of the Canyons
                           Dr. Dianne G. Van Hook University Center
                           Meeting Room 258 (UCEN-258)
                           26455 Rockwell Canyon Road
                           Santa Clarita, CA 91355

Learn how to perform an on-site energy efficiency survey during this informative seminar designed for building owners, maintenance professionals, business owners, and facility managers.  At this session, you will learn how to identify energy savings potential that will help you save energy and save money.  You will become familiar with common energy systems such as HVAC, lighting, and refrigeration, as well as more complex field equipment, including motors, fans, and pumps.  Classroom instruction will include case studies and a hands-on exercise to perform an on-site survey of a facility.

Overcoming Objections to Energy Efficiency Projects
REGISTER TODAY!

Date                       Monday, November 8, 2010
Time:                        8:30 a.m. – 3:30 p.m. (Continental Breakfast & Lunch provided)
Event:                #A6882

Location:           SCE Ventura Service Center
                           10060 Telegraph Road
                          Ventura, CA 93004


Contractors and vendors will benefit from attending this workshop that explores approaches and tools that can be used to overcome customer resistance toward investment in energy efficient products and services. The seminar emphasizes financial considerations that go beyond the traditional “first cost” and “simple payback” methods. Attendees will learn how to use return on investment (ROI), life-cycle cost analysis, capitalization rate, and tax effects to help business owners understand the long-term financial benefits of energy efficiency for their operation.

Motor Efficiency REGISTER TODAY!
Date                       Friday, December 3, 2010
Time:                        8:30 a.m. – 3:30 p.m. (Continental Breakfast & Lunch provided)
Event:                #A6891

Location:           SCE Ventura Service Center
                           10060 Telegraph Road
                          Ventura, CA 93004


Explore premium motor efficiency to reduce energy costs for commercial and industrial facilities.

Attend this FREE Motor Efficiency workshop and learn:
  • Rating Standards
  • Principles of an efficient motor
  • Management for maximum operation
  • Motor life expectancy
Efficiency in replacement or upgrades
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U.S. EPA awards $175,000 to San Diego, Huntington Park, for Brownfields Development

U.S. EPA awards $175,000 to San Diego, Huntington Park, for Brownfields Development
Contact: Francisco Arcaute, (213) 244-1815, Cell (213) 798-1404, arcaute.francisco@epa.gov

 

LOS ANGELES - Communities for a Better Environment, of Huntington Park, Calif., and the San Diego-based Jacobs Center for Neighborhood Innovation, will each receive $175,000 as part of U.S. Environmental Protection Agency’s $4 million in assistance to 23 communities, many in under-served and economically disadvantaged areas, to develop area-wide plans for the reuse of brownfields properties. 

 

EPA is awarding approximately $4 million in total across 23 recipients. Recipients will each receive up to ap­proximately $175,000 in EPA cooperative agreement and/or direct technical assistance. Assistance will help recipients initiate develop­ment of an area-wide plan and identify next steps and resources needed to implement the plan.
"This area-wide approach recognizes that revitalization of the communities impacted by multiple brownfield sites or a large individual site – particularly in distressed communities – requires a strategy for area-wide improvement to attract investment to redevelop brownfields properties,” said Mathy Stanislaus, assistant administrator for EPA’s Office of Solid Waste and Emergency Response.  “The approach also recognizes the importance of identifying and leveraging additional local, state, and federal investment to implement the plans.”

 

Details on the Jacobs Center for Neighborhood Innovation, San Diego, $175,000 award are as follows:
EPA has selected the Jacobs Center for Neighborhood Innovation as a Brownfields Area-Wide Planning Pilot Program recipient. The Jacobs Center for Neighborhood Innovation will focus its project on The Village at Market Creek, an underused, brownfields-impacted area in the center of the Diamond Neighborhoods of southeastern San Diego. The Diamond Neighborhoods are economi­cally distressed, highly diverse communities of 84,300 residents. The unemployment rate in southeastern San Diego is estimated to be 20 percent. Median incomes are half of the countywide average.
At least 12 sites in The Village are suspected to be contaminated brownfields. The area-wide planning process will incorporate input from community planning partners on brownfields site reuse priorities and adequacy of infrastructure to support those reuses. As a result of the area-wide plan, brown­fields cleanup and reuse will be addressed in the Cultural Village Plan for the Village at Market Creek, already in development.
The plans will integrate site cleanup and reuse into coordinated strategies to lay the foundation for addressing community needs such as economic development, job creation, housing, recreation, and education and health facilities.  Brownfields are properties where the presence or potential presence of hazardous substances, pollutants, or contaminants may complicate the properties’ expansion, redevelopment, or reuse. 

 

Details on the Communities for a Better Environment, Huntington Park, $175,000 award are as follows:
EPA has selected Communities for a Better Environment (CBE) as a Brownfields Area-Wide Planning Pilot Program recipient. CBE will focus its project on the Huntington Park Brown-to- Green project area.  Huntington Park is a predominantly Latino community in Los Angeles County, in which approximately 21 percent of families live below the poverty level. The project area was home to heavy manufacturing operations until the 1960s. Smaller manu­facturing operations have since located in the area, which is now blighted by dilapidated buildings and vacant lots.
Attempts to improve this area have not been able to develop a comprehensive revitalization vision. CBE will work with its community partners to facilitate community involvement in developing an area-wide plan around brownfields site assessment, cleanup, and potential reuses that will help transform the project area into a mixed-use, sustainable area that will better meet the needs of residents.

 

More information on the grant recipients:  http://epa.gov/brownfields/areawide_grants.htm
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October 15, 2010

Dear Curtis D.,

Dear Curtis D.,

 

You may have read recent news reports that MIT was considering placing OCW behind a paywall. This rumor was untrue, but the attention it was given in the press shows just how many people believe that MIT can't keep OCW free and open in the long term.

 

We need your help to show that it can.

 

Donations from our visitors are an important part of our long term funding strategy, and your gift of whatever amount you can afford not only sustains OCW but also makes a powerful statement supporting knowledge as a public good.

 

The Cost of Free

 

OCW's annual budget is $3.7 million dollars. MIT pays for half of the costs directly and the rest is funded by grants, corporate underwriters, and donations from our supporters. Last year alone, our site visitors provided more than $200,000 through gifts that averaged $50. Our goal over the next several years is to increase donations from individuals to $500,000 annually. While this is a modest piece of the overall budget, it is a crucial one, as it demonstrates to our sponsors and grantors the value our visitors place in access to MIT's curricular materials.

 

What would it take to raise $500,000? We know that the vast majority of visitors to our site cannot afford to donate, and our core mission is to provide access to exactly these audiences--educators in developing countries, workers displaced by the financial crisis, homeschooling parents, self learners unable to continue formal study. But if you are able to donate, your support at any level can make a tremendous impact. If just over one tenth of one percent of the 9 million visitors our site received last year donated $50, we would reach our annual goal.

 

How You Can Help

 

OCW can make a difference in improving the lives of millions of others around the world. Please give generously during our fall fundraising campaign. Your contribution of $25, $50, $100 – or whatever amount is right for you – helps us show that OCW is here to stay as a free and open resource for all.

 

Please visit http://ocw.mit.edu/donate to make your donation now.

 

Sincerely,

 

Cecilia d'Oliveira
Executive Director
MIT OpenCourseWare
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Appraiser Independence Requirements

0 This document is incorporated by reference into the Fannie Mae Selling Guide.

Appraiser Independence Requirements I. Appraiser Independence Safeguards A. An "appraiser" must be, at a minimum, licensed or certified by the State in which the property to be appraised is located. B. No employee, director, officer, or agent of the Seller, or any other third party acting as joint venture partner, independent contractor, appraisal company, appraisal management company, or partner on behalf of the Seller, shall influence or attempt to influence the development, reporting, result, or review of an appraisal through coercion, extortion, collusion, compensation, inducement, intimidation, bribery, or in any other manner including but not limited to:

(1) Withholding or threatening to withhold timely payment or partial payment for an appraisal report;

(2) Withholding or threatening to withhold future business for an appraiser, or demoting or terminating or threatening to demote or terminate an appraiser;

(3) Expressly or impliedly promising future business, promotions, or increased compensation for an appraiser;

(4) Conditioning the ordering of an appraisal report or the payment of an appraisal fee or salary or bonus on the opinion, conclusion, or valuation to be reached, or on a preliminary value estimate requested from an appraiser;

(5) Requesting that an appraiser provide an estimated, predetermined, or desired valuation in an appraisal report prior to the completion of the appraisal report, or requesting that an appraiser provide estimated values or comparable sales at any time prior to the appraiser’s completion of an appraisal report;

(6) Providing to an appraiser an anticipated, estimated, encouraged, or desired value for a subject property or a proposed or target amount to be loaned to the Borrower, except that a copy of the sales contract for purchase transactions may be provided;

(7) Providing to an appraiser, appraisal company, appraisal management company, or any entity or person related to the appraiser, appraisal company, or appraisal management company, stock or other financial or non-financial benefits;

(8) Removing an appraiser from a list of qualified appraisers, or adding an appraiser to an exclusionary list of disapproved appraisers, in connection with the influencing or attempting to influence an appraisal as described in Paragraph B above (this prohibition does not preclude the management of appraiser lists for bona fide administrative or quality-control reasons based on written policy); and

(9) Any other act or practice that impairs or attempts to impair an appraiser’s independence, objectivity, or impartiality or violates law or regulation, including, but not limited to, the Truth in Lending Act (TILA) and Regulation Z, or the Uniform Standards of Professional Appraisal Practice (USPAP).

II. Acceptability of Subsequent Appraisals

A Seller must not order, obtain, use, or pay for a second or subsequent appraisal in connection with a Mortgage financing transaction unless: (i) there is a reasonable basis to believe that the initial appraisal was flawed or tainted and such basis is clearly and appropriately noted in the Mortgage file, or (ii) such appraisal is done pursuant to written, pre-established bona fide pre- or post-funding appraisal review or quality control processes or underwriting guidelines, and so long as the Seller adheres to a policy of selecting the most reliable appraisal, rather than the appraisal that states the highest value, or (iii) a second appraisal is required by law.

III. Borrower Receipt of Appraisal

The Seller shall ensure that the Borrower is provided a copy of any appraisal report concerning the Borrower’s subject property promptly upon completion at no additional cost to the Borrower, and in any event no less than three days prior to the closing of the Mortgage. The Borrower may waive this three-day requirement if such waiver is obtained at least three days prior to the closing of the Mortgage. The Seller may provide the Borrower at closing, a revised copy of an appraisal and information as to the nature of any revisions, so long as the revisions had no impact on value.

The Seller may require the Borrower to reimburse the Seller for the cost of the appraisal.

IV. Appraiser Engagement A. The Seller or any third party specifically authorized by the Seller (including, but not limited to, appraisal companies, appraisal management companies, and Correspondent lenders) shall be responsible for selecting, retaining, and providing for payment of all compensation to the appraiser. The Seller will not accept any appraisal report completed by an appraiser selected, retained, or compensated in any manner by any other third party (including Mortgage Brokers and real estate agents). B. There must be separation of a Seller’s sales or Mortgage production functions and appraisal functions. An employee of the Seller in the sales or Mortgage production function shall have no involvement in the operations of the appraisal function.

(1) Certain parties are prohibited from:

(a) Selecting, retaining, recommending, or influencing the selection of any appraiser for a particular appraisal assignment or for inclusion on a list or panel of appraisers approved or forbidden to perform appraisals for the Seller; and © 2010 Fannie Mae. Trademarks of Fannie Mae 3 of 4 October 15, 2010 This document is incorporated by reference into the Fannie Mae Selling Guide.

(b) Having any substantive communications with an appraiser or appraisal management company relating to or having an impact on valuation, including ordering or managing an appraisal assignment.

These parties are:

(i)

All members of the Seller’s Mortgage production staff;

(ii)

Any person who is compensated on a commission basis upon the successful completion of a Mortgage; and

(iii)

Any person whose immediate supervisor is not independent of the Mortgage production staff and process.

 

Seller personnel not described in Section IV.B (1)(i) through (iii) above are not subject to the restrictions described above, and may engage in communications with an appraiser. In addition, any party, including the parties described in Section IV.B (1)(i) through (iii) above, may request that an appraiser provide additional information or explanation about the basis for a valuation, or correct objective factual errors in an appraisal report. (2) If absolute lines of independence cannot be achieved as a result of the Seller’s small size and limited staff, the Seller must be able to clearly demonstrate that it has prudent safeguards to isolate its collateral evaluation process from influence or interference from its Mortgage production process. C. Any employee of the Seller (or if the Seller retains an appraisal company or appraisal management company, any employee of that company) tasked with selecting appraisers for an approved panel or substantive appraisal review must be: (1) Appropriately trained and qualified in the area of real estate appraisals; and (2) In the case of an employee of the Seller, wholly independent of the Mortgage production staff and process.

V. Use of Appraisal Reports by In-House Appraisers or Affiliated Appraisers A. In underwriting a Mortgage, the Seller may use an appraisal report:

(1) Prepared by an appraiser employed by:

(a) The Seller;

(b) An affiliate of the Seller;

(c) An entity that is owned, in whole or in part, by the Seller; or © 2010 Fannie Mae. Trademarks of Fannie Mae 4 of 4 October 15, 2010 This document is incorporated by reference into the Fannie Mae Selling Guide.

(d) An entity that owns, in whole or in part, the Seller.

(2) Prepared by an appraiser employed, engaged as an independent contractor, or otherwise retained by an appraisal company or any appraisal management company affiliated with, or that owns or is owned, in whole or in part, by the Seller or an affiliate of the Seller, provided that the Seller complies with the provisions of these Appraiser Independence Requirements. B. The Seller also may use in-house staff appraisers to: (1) Order appraisals; (2) Conduct appraisal reviews or other quality control, whether pre-funding or post-funding; (3) Develop, deploy, or use internal Automated Valuation Models; or (4) Prepare appraisals in connection with transactions other than Mortgage origination transactions (e.g., Mortgage workouts), if the Seller complies with the provisions of these Appraiser Independence Requirements.

VI. Transfer of Appraisals

A Seller may deliver to Fannie Mae a conventional Mortgage with an appraisal prepared by an appraiser selected by another lender, including where a Mortgage Broker has facilitated the Mortgage application (but not ordered the appraisal). The Seller delivering the loan to Fannie Mae makes all representations and warranties to Fannie Mae regarding the appraisal set forth in the Mortgage Selling and Servicing Contract, the Selling Guide and related documents, including the representation that the appraisal is obtained in a manner consistent with these Appraiser Independence Requirements.

VII. Referrals of Appraisal Misconduct Reports

Any Seller that has a reasonable basis to believe an appraiser or appraisal management company is violating applicable laws, or is otherwise engaging in unethical conduct, shall promptly refer the matter to the applicable State appraiser certifying and licensing agency or other relevant regulatory bodies.

VIII. Compliance

Sellers must adopt written policies and procedures implementing these Appraiser Independence Requirements, including, but not limited to, adequate training and disciplinary rules on appraiser independence, including the principles detailed in Section I. Additionally, Sellers must ensure that any third parties, such as appraisal management companies or Correspondent lenders, used in conjunction with the sale and delivery of a Mortgage to Fannie Mae are also in compliance with these Appraiser Independence Requirements

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EPA Awards $4 Million for Brownfields

CONTACTS:
Latisha Petteway
petteway.latisha@epa.gov
202-564-3191
202-564-4355
Stacy Kika
kika.stacy@epa.gov
202-564-0906
202-564-4355
FOR IMMEDIATE RELEASE
October 15, 2010
EPA Awards $4 Million for Brownfields
Most assistance to under-served, economically disadvantaged communities
WASHINGTON - The U.S. Environmental Protection Agency (EPA) has announced it is awarding $4 million in assistance to 23 communities, many in under-served and economically disadvantaged areas, to develop area-wide plans for the reuse of brownfields properties. Mathy Stanislaus, assistant administrator for EPA’s Office of Solid Waste and Emergency Response announced the grants today at an event in Cleveland, along with Shaun Donovan, Secretary of the Department of Housing and Urban Development. The plans will integrate site cleanup and reuse into coordinated strategies to lay the foundation for addressing community needs such as economic development, job creation, housing, recreation, and education and health facilities.  Brownfields are properties where the presence or potential presence of hazardous substances, pollutants, or contaminants may complicate the properties’ expansion, redevelopment, or reuse. 
"This area-wide approach recognizes that revitalization of the communities impacted by multiple brownfield sites or a large individual site – particularly in distressed communities – requires a strategy for area-wide improvement to attract investment to redevelop brownfields properties,” said Mathy Stanislaus, assistant administrator for EPA’s Office of Solid Waste and Emergency Response.  “The approach also recognizes the importance of identifying and leveraging additional local, state, and federal investment to implement the plans.”
EPA will work with the selected projects in 18 states and one territory to identify ways the planning effort can utilize local, state and federal resources to help implement area-wide efforts for housing, transportation, economic growth and healthy communities.  Recipients will be able to leverage the Partnership for Sustainable Communities, a joint effort of EPA, the Department of Transportation, the Department of Housing and Urban Development and the Economic Development Administration, to identify potential resources to help move the community plans forward. 
EPA will award up to $175,000 each per selected recipient to help facilitate community involvement in developing an area-wide plan for a brownfields impacted area, such as a neighborhood, district, city block or corridor.  The assistance will be provided through grant funding or agency support. EPA and its partner federal agencies will work with the selected communities to:
·         Use the funds to identify potential future uses for brownfields properties.
·         Create a set of area-wide strategies that will help ensure successful assessment, cleanup and reuse of the brownfields sites.
·         Develop strategies for facilitating the reuse of existing infrastructure, including taking into account potential infrastructure investments needed to accommodate alternative future uses of brownfields properties.

 

The Partnership for Sustainable Communities ensures that the agencies’ policies, programs, and funding consider affordable housing, transportation, and environmental protection together.  This interagency collaboration gets better results for communities and uses taxpayer money more efficiently.  Coordinating federal investments in infrastructure, facilities, and services meets multiple economic, environmental, and community objectives with each dollar spent.  The partnership is helping communities across the country to create more housing choices, make transportation more efficient and reliable, reinforce existing investments, and support vibrant and healthy neighborhoods that attract businesses.
The partnership has released a new publication that looks at the progress the agencies have made in the first year.  The document explains how the partnership has targeted resources to help communities strengthen their economies by developing more sustainably and removing regulatory and policy barriers to make it easier for state and local governments to access federal resources.
More information on the grant recipients:  http://epa.gov/brownfields/areawide_grants.htm
More information on the partnership:  http://www.epa.gov/smartgrowth/pdf/partnership_year1.pdf
R344
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October 12, 2010

NY Appellate Judge: "there is no longer any judicial oversight of eminent domain proceedings"

NY Appellate Judge: "there is no longer any judicial oversight of eminent domain proceedings"

 http://www.dddb.net/php/latestnews_Linked.php?id=2822

It is truly a sad (and despicable and dangerous) state of affairs when New York's judicial branch admits that it has explicitly turned itself into a bystander when it comes to the 5th Amendment (perhaps the SCOTUS will have something else to say about this soon).

The following is a concurring opinion in a unamimous Appellate Division ruling against property owners challenging New York City's use of eminent domain for private gain in East Harlem:

Decided on October 12, 2010
Mazzarelli, J.P., Sweeny, Catterson, Renwick, Manzanet-Daniels, JJ.

In re Uptown Holdings, LLC, et al., Petitioners,
v
City of New York, et al., Respondents.

...CATTERSON, J. (concurring)
In my view, the record amply demonstrates that the neighborhood in question is not blighted, that whatever blight exists is due to the actions of the City and/or is located far outside the project area, and that the justification of under-utilization is nothing but a canard to aid in the transfer of private property to a developer. Unfortunately for the rights of the citizens affected by the proposed condemnation, the recent rulings of the Court of Appeals in Matter of Goldstein v. New York State Urban Dev. Corp., 13 NY3d 511, 893 N.Y.S.2d 472, 921 N.E.2d 164 (2009) and Matter of Kaur v. New York State Urban Dev. Corp., 15 NY3d 235, —- N.E.2d —— (2010), have made plain that there is no longer any judicial oversight of eminent domain proceedings. Thus, I am compelled to concur with the majority.
(Emphasis added.)

If New York courts aren't going to do their job when it comes to powerful interests taking New Yorkers' homes and businesses, and New York's elected officials are happy to pretend this isn't a problem, what is a New Yorker supposed to do?
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10th Annual Bank Research Conference: Finance and Sustainable Growth,

Dear Colleagues,

You are cordially invited to attend the 10th Annual Bank Research Conference:  Finance and Sustainable Growth, October 28-29, 2010 – sponsored by the Federal Deposit Insurance Corporation and the Journal of Financial Services Research.

The event will be held at the FDIC’s Conference Center:
L. William Seidman Center
Hove Auditorium – A-3125
3501 Fairfax Drive
Arlington, Virginia  22226

 


Conference Agenda


Register online https://fdicsurvey.inquisiteasp.com/surveys/9QNF9Y

 

Conference attendance is limited to registered participants, seating is limited, so early registration is recommended.  Those requesting admission will be notified via e-mail when their registration is confirmed.

Registration can be done electronically. There is no conference registration fee.  Alternatively you may register by e-mail to nrose@fdic.gov, or contact N. Michelle Rose at 202-898-7204.  

Registration Deadline: October 18, 2010.

Hotel accommodations are available through the FDIC at the L. William Seidman Center at the rate of $176.40 per night (tax included), please contact N. Michelle Rose for reservations.  Reservations should be made by October 20, 2010 to ensure room availability.

 

 

 

With kind regards,

Paul H. Kupiec
Federal Deposit Insurance Corporation
202-898-6768

Haluk Ünal
University of Maryland and FDIC-CFR
301-405-2256
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Hines-Antarctica partnership to buy 11 properties for $2.33 billion

§  Hines-Antarctica partnership to buy 11 properties for $2.33 billion
In an effort to raise money for the general fund and pay off bonds on state-owned buildings, the California Department of General Services has agreed to sell 11 properties to the real estate partnership of Hines and Antarctica Capital Real Estate. The sale price is $2.33 billion and the buyer has agreed to lease back the buildings that house state offices for 20 years. American City Business Journals/San Francisco (10/11) , The Press Democrat (Santa Rosa, Calif.) (10/11) LinkedInFacebookTwitterEmail this Story
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October 11, 2010

Distressed Hotel Summit: November 1-2

Distressed Hotel Summit: November 1-2
SPONSORED CONTENT
Special BOGO registration rate until October 15! From now until October 15, register yourself and receive a code to register a colleague for half off!* Plus, registration rates go up to $895 after October 15, so don't forget to register by Friday. By attending the Summit, you'll learn about recovery on the upswing and the four 'R's of distressed asset management: Recapitalization, Repositioning, Receivership and Recovery. Presented by Hotel & Motel Management, this Summit will feature in-depth discussions of distressed assets for management companies, lenders and owners and buyers of distressed properties. Visit www.distressedhotelsummit.com today to register and to view the newly updated educational program. *New registrations only.

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Welcome
Dear friends,
http://ortnerdesign.com/newsletter/?p=604#/newsletter/?page_id=216

I would like to introduce you to my architectural newsletter, a weekly brief that will deliver short articles on unique architectural topics. By way of introduction, I am Mario Ortner, principal at Ortner Design, an architectural firm specializing in residential design.

I have recently returned from a 4-month-around-the-world journey. I spent my days admiring the architecture of ancient streets, getting lost in back alleys and exploring historical sites. On occasions I wondered about the style of a particular building, the year it was built and so on. Many people share my curiosity, people who had seen a house they liked and had asked me to identify its style by name. My goal is to provide a snippet of each and all known architectural styles, famous architects,  fascinating buildings, green architecture and so on.

This is new territory for me but I have always enjoyed writing and hope to make this architectural newsletter entertaining and informative. You can help too. Please feel free to leave comments and let me know if there is a specific subject that interests you.

Welcome to my newsletter.
Mario Ortner

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Third Round of Funding for Four Percent (4%) Credits with State Credits

DATE: October 7, 2010

TO: Tax Credit Allocation Committee Stakeholders

FROM: William J. Pavão, Executive Director

SUBJECT: Third Round of Funding for Four Percent (4%) Credits with State Credits

The California Tax Credit Allocation Committee (TCAC) is pleased to announce a third funding round for federal four percent (4%) tax credits along with State tax credits. TCAC is making available approximately $30 million in State low income housing tax credits in this third round.

Application Due Date: Applications must be hand-delivered or otherwise received by TCAC no later than 5:00 P.M., November 3, 2010.

Submittal Location: California Tax Credit Allocation Committee

915 Capitol Mall, Room 485

Sacramento, California 95814

Eligible Applicants: Projects located outside of federally-designated Difficult to Develop Areas (DDAs) and outside of Qualified Census Tracts (QCTs).

2010 4% Competitive Tax-Exempt Bond Application Combining Federal and State Tax Credits as used in previous rounds, available at:

http://www.treasurer.ca.gov/ctcac/2010/application/index.asp

If the tax credit factor exceeds the limits outlined in the application, please send an email request along with the electronic application to Gina Ferguson at gferguson@treasurer.ca.gov.

Regulation 10305(h) states gives the Committee the sole discretion to reject an application if the proposed project fails to meet the minimum point requirements established by the Committee prior to that funding round. For 2010 the Committee established a 110-point minimum under the 124-point scoring system. However, the Committee may elect to fund projects in spite of scores below the established minimum score. Therefore, TCAC staff welcomes applications even where self-scoring is below the established minimum.

Applications must be complete and proposals must comply with the provisions of TCAC regulations Section 10317(g) and all other relevant statutory and regulatory provisions. TCAC staff anticipates presenting funding recommendations at the December 15, 2010 meeting of the Tax Credit Allocation Committee.

If you have any questions, please contact your regional analyst at (916) 654-6340.

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October 08, 2010

The Regional Economic Conditions, RECON, is now available on line with the second quarter 2010 update.
RECON is a compilation of key economic data in graphic format for the United States as a whole and for each state, county and certain metropolitan statistical areas. The table below displays the RECON data offerings by geographical levels (national, state, MSA or county). Available geographies are denoted by an "X". The "Data As Of" column indicates the latest date available for each RECON offering.
Geographic Availability                                   
RECON OFFERINGS
Quarterly updates unless otherwise indicated
U.S.
State
MSA
County
Data As Of
Bankruptcy Filings, Personal
X
X
 
X
2010Q2
Commodity Prices (Monthly)
X
 
 
 
August 2010 
Earnings per Employee by Industry (Average annual as of year end)
 
X
 
 
2008
Employment by Industry
 
X
X
 
2010Q2
Employment Composition (Annual as of year end)
 
X
X
 
2009
Employment Growth
X
X
X
X
2010Q2
Foreclosures Started
X
X
 
 
2010Q2
Housing Permits
X
X
X
X
2010Q2
Income Growth
X
X
 
 
2010Q2
Labor Force + Population
X
X
X
X
2010Q2
Median Family Income (Estimated Annualized)
X
X
 
X
2010Q2
Mortgage Delinquencies
X
X
 
 
2010Q2
Payroll Employment
X
X
X
 
2010Q2
Per Capita Personal Income (Annual as of year end)
X
X
X
X
2008
Personal Income Growth
X
X
 
 
2010Q2
Residential Real Estate
X
X
X
X
2010Q2
Unemployment Rate
X
X
X
X
2010Q2
Vacancy Rates, Non Residential
X
 
X
 
2010Q2
Please remember to periodically check Regional Economic Conditions, RECON for third quarter 2010 updates. Updates will be made throughout the fourth quarter of 2010 as 2010Q3 data becomes available to the RECON system.
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Bogus 'Forensic Loan Audits' Lead to Calif. AG's Suit Against Companies, Lawyers

Bogus 'Forensic Loan Audits' Lead to Calif. AG's Suit Against Companies, Lawyers
The National Law Journal

California Attorney General Jerry Brown seeks to recover $60 million in civil penalties in an action he filed against three lawyers and two companies in Sacramento County, Calif., Superior Court. According to Brown's complaint, since early 2009 the companies sold "forensic loan audits" -- computerized reviews purporting to show homeowners how their mortgage lenders had violated the law. The audits encouraged homeowners to pay thousands of dollars in up-front fees, instead of paying their mortgages, to bring lawsuits against those lenders.

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October 06, 2010

REITWorld®: NAREIT's Annual Convention for All Things REIT®, is THE Must-Attend Real Estate Meeting of the Year, Bringing the Most Influential REIT Executives, Investors, and Service Providers Together in One Terrific Location

Register Now and Save!
Rates Increase on
October 16, 2010


REITWorld 2010 Home Page

Participating REITs

To Register Now
(You will be prompted to create an account or login)
NAREIT Members Save at Least $700 on Registration Fees. Become a NAREIT Member Today!


REITWorld Sponsorship Opportunities

REITWorld Schedule

The senior management teams of leading REITs will convene in New York at the Waldorf=Astoria, November 15-17 for REITWorld: NAREIT's Annual Convention for All Things REIT. REIT executives attend REITWorld to meet with real estate investors and service providers to discuss industry trends, investment principles, and the current market environment.

REITWorld registration is open to the public and provides all attendees the opportunity to get to know the senior leadership teams of participating REITs and to gain deeper insight into the publicly traded real estate market, REIT company positionings, and the future directions they are taking.

In addition to the 90 REITs already committed to giving individual company presentations, NAREIT is putting together a strong educational program where industry leaders share opinions, convey knowledge, and discuss what the future may hold as it relates to the economy and real estate investment. Several General Sessions are highlighted below:

Monday, November 15, 2010
Opening Lunch: Global CEO Marketplace, 12:00 pm - 2:00 pm

Moderator: Bryce Blair, Chairman and CEO, AvalonBay Communities, Inc.
Panelists:
Martin Cohen, Co-Chairman and Co-CEO, Cohen & Steers Capital Management
Guillaume Poitrinal, Chairman and CEO, Unibail-Rodamco
Steven Roth, Chairman, Vornado Realty Trust
R. Scot Sellers, CEO, Archstone

Tuesday, November 16, 2010
Breakfast Session: State of the Economy, 8:30 am - 10:30 am

Speaker: Kenneth Rosen, Chairman, Rosen Consulting Group

Lunch Panel Session: REITs at 50: A Panoramic Perspective, 12:00 pm - 2:00 pm

Moderator: Ron Sturzenegger, Managing Director and Global Head of Real Estate, Bank of America Merril Lynch
Panelists:
Martin Cicco, Managing Partner, Evercore Partners
Milton Cooper, Executive Chairman, Kimco Realty Corporation
Richard Saltzman, CEO, Colony Financial
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2009 NEHRP Provisions (FEMA P-750 and FEMA P-750 CD)

2009 NEHRP Provisions (FEMA P-750 and FEMA P-750 CD) Now Available in Print and Online!
FEMA (Federal Emergency Management Agency) sent this bulletin on October 06, 2010 02:57 PM

 

Dear Colleague:

The Department of Homeland Security’s Federal Emergency Management Agency (FEMA) is pleased to announce that the 2009 edition of the NEHRP Recommended Seismic Provisions for New Buildings and Other Structures, FEMA P-750 and FEMA P-750 CD, are now available, at no cost, from the Publications Warehouse and online from the FEMA Library.

One of the goals of the National Earthquake Hazards Reduction Program (NEHRP) is to encourage design and construction practices that reduce the seismic risk to property and life. FEMA’s publication of the 2009 NEHRP Provisions, which serve as a national resource for design professionals and the standards and codes development community, is a major ongoing commitment to achieving this goal.

In a series first published in 1985, the 2009 NEHRP Provisions marks the seventh update of this key resource document. This new edition adopts by reference the national load standard, ASCE/SEI 7-05, which allows the Provisions to resume its role as a research-to-practice resource for introducing new knowledge, innovative concepts, and design methods to improve the national seismic standards and codes.

The 2009 NEHRP Provisions is presented in a new one-volume format with three parts:

Part 1. Provisions
Consensus-approved technical modifications of the seismic requirements in the reference standard. The modifications include the adoption of new seismic design maps based on seismic hazard maps issued in 2008 by the U.S. Geological Survey (USGS), along with some design-related adjustments.

Part 2. Commentary
Completely rewritten, up-to-date commentary for the reference standard.

Part 3. Resource Papers
Series of resource papers that focus on emerging seismic design concepts and methods for exposure to and trial use by the design community and on issues that have proven historically difficult or complex to adequately codify.

The accompanying CD (FEMA P-750 CD) contains the digital version of the Provisions, the USGS Seismic Design Maps, the Provisions-based design maps proposed to ASCE7-10 and 2012 I-codes, and other supporting materials.

To order your copy of FEMA P-750 with FEMA P-750 CD from the FEMA Publications Warehouse, call 1 (800) 480-2520 or fax your request to (240) 699-0525.

To view or download other NEHRP publications and products or to sign up for updates on earthquake risk mitigation publications, news, and events, visit Earthquake Publications and Tools.

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October 05, 2010

Welcome to APARTMENTS 2010 –

Welcome to APARTMENTS  2010 – the leading networking event for the multifamily real estate industry!

There are major challenges facing the multifamily industry today and this conference will aim to provide you with the direction you are looking for to navigate the current market.  Has the economy started to recover?  What will the recovered market look like? What will bring the buyers back?  How will financing change?  What areas of the nation are poised to recover quicker than others?  All these issues and many more will be covered during this full day event with 10 panel sessions and special presentations.  http://www.almevents.com/conf_page.cfm?pt=includes/webpages/webwysiwyg.cfm&web_page_id=10500&web_id=1245&instance_id=28&pid=863

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Trial to Decide if Bank CEO Knowingly Made False Statements

Trial to Decide if Bank CEO Knowingly Made False Statements
Daily Business Review

When it comes to securities fraud litigation, the BankAtlantic Bancorp trial slated for jury selection Friday could be dramatic. If the trial moves ahead as scheduled, it will be only the 12th since Congress clamped down on shareholder lawsuits in 1995, attorneys in the case say. The jury will be asked to decide whether BankAtlantic Bancorp CEO Alan Levan's statements about nonperforming loans on the watch list at the bank with $4.6 billion in assets were intentionally false and deceiving.
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October 04, 2010

L.A. based appraiser, Curtis D. Harris,

L.A. based appraiser, Curtis D. Harris,

Interested in dominating your Online Lead Generation or have
some Appraisal questions?
October 7 , 2010
9:30AM—11:00AM

Brian Atwood of Inside Real Estate will be stopping by to give a brief
introduction to Online Lead Generation. Today, over 87% of all real estate transactions start online !

An exciting seminar to follow after the Bergamot at the WLA Office
from 1:00pm – 2:00pm. Hope to see you there !!
Brian Atwood, R.E. Network Trainer Inside Real Estate

L.A. based appraiser, Curtis D. Harris, has been in business since
1984. Curtis will be discussing, Market Value, the use of Distressed
Sales for Comparable and their impact on Real Estate Prices. Some of
his prestigious clients include the LAUSD, County of LA, The Resolution
Trust Corp., Wells Fargo, Alliance Bank, IRS Tax Appraiser Services,
City of Culver City, Pasadena, Lynwood and many others.

Curtis D. Harris, R.E. Consultant/Fee Appraiser
The Harris Company
2525 Michigan Avenue, Building I
Santa Monica, CA 90404
Tel: 310.998.1199

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L.A. based appraiser, Curtis D. Harris,

L.A. based appraiser, Curtis D. Harris,

Interested in dominating your Online Lead Generation or have
some Appraisal questions?
October 7 , 2010
9:30AM—11:00AM

Brian Atwood of Inside Real Estate will be stopping by to give a brief
introduction to Online Lead Generation. Today, over 87% of all real estate transactions start online !

An exciting seminar to follow after the Bergamot at the WLA Office
from 1:00pm – 2:00pm. Hope to see you there !!
Brian Atwood, R.E. Network Trainer Inside Real Estate

L.A. based appraiser, Curtis D. Harris, has been in business since
1984. Curtis will be discussing, Market Value, the use of Distressed
Sales for Comparable and their impact on Real Estate Prices. Some of
his prestigious clients include the LAUSD, County of LA, The Resolution
Trust Corp., Wells Fargo, Alliance Bank, IRS Tax Appraiser Services,
City of Culver City, Pasadena, Lynwood and many others.

Curtis D. Harris, R.E. Consultant/Fee Appraiser
The Harris Company
2525 Michigan Avenue, Building I
Santa Monica, CA 90404
Tel: 310.998.1199

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October 03, 2010

Firming Prices, Strengthening Recovery Rates Spur Lenders To Increase Sale Of Distressed Properties

Firming Prices, Strengthening Recovery Rates Spur Lenders To Increase Sale Of Distressed Properties

October 01, 2010

  • Stabilizing operating conditions, firming values and strengthening recovery rates will inspire lenders to increase their disposition of distressed properties, though a flood of liquidations will not occur. Many lenders extended loans or warehoused reclaimed assets through the downturn, waiting for values and operations to improve before taking REO properties to market. As buyer activity has increased this year, lender confidence has improved, and more lenders have begun moving distressed assets to market. Distressed sales activity during the first half of 2010 nearly tripled the activity levels recorded in the same period in 2009, with assets under $5 million comprising over 80 percent of the transactions. This controlled liquidation will continue over the next year as lenders clear their balance sheets of bad commercial real estate debt, whether through note sales, short sales or REO dispositions.

http://blog.marcusmillichap.com/

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October 01, 2010

NCAHMA Annual Meeting in Chicago

...5 Days Until The NCAHMA Annual Meeting in Chicago

 

LIHTC and HUD Policy Updates

 

State of the LIHTC Equity Market

 

New AMIs and How They Impact Markets

 

Demographic and Census Updates

 

Underwriting and Market Study Issues

 

Event: NCAHMA Affordable Housing Underwriting Conference & Annual Meeting
Date: Tuesday & Wednesday, October 5-6, 2010
Location: Doubletree Hotel Magnificent Mile, Chicago, Illinois
Registration: NH&RA/NCAHMA Members-$475; Non-Members-$550 

 

Please don't delay--register today! Questions? Contact Thom Amdur at 202-939-1753 or tamdur@housingonline.com or Greg Sidorov at 202-939-1773 or gsidorov@dworbell.com.
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