Magazine article Journal of Property Management

2010 IREM and CCIM Capitol Hill Visit Day

Magazine article Journal of Property Management

2010 IREM and CCIM Capitol Hill Visit Day

Article excerpt

AT PRESS TIME, THE 2010 CAPITOL HILL VISIT DAY WAS JUST AROUND THE CORNER, to be held in conjunction with the IREM Leadership and Legislative Summit beginning May 5, 2010. During this exciting and educational event, IREM and CCIM Institute members were scheduled to meet with Congressional members and staff to discuss important issues that affect the real estate industry. Issues for discussion included:

* Increasing short-term business lending, moderate term capital improvement loans and longer term financing or refinancing of commercial property. Having a proper "commercial property toolbox of options" is a great way to address today's needs in the area of capital markets.

* Accelerating depreciation of properties to generate commercial property cash flow. By shortening the recovery period and providing passive loss relief at the same time, a very important incentive would be provided to those owning/managing commercial real estate.

* Providing additional financing through the use of funds from credit unions. Existing law limits credit union business lending at 12.25 percent of total assets. By moving the limit to 25 percent of total assets--a current proposal in the U.S. Congress, additional funds could be provided for commercial property lending.

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* Providing a mortgage insurance program for commercial debt. This concept would support insurance from the government or private sector that would cover the difference between the current value and the debt service amount which could free up capital for other purposes. …

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