Multifamily Florida - Spring 2010 - (Page 7)

LEGISLATIVEUpdate Capitol Hills by Jeff Rogo, Government Affairs Director Since the last Multifamily Florida was published, FAA members have visited Capitol Hill in Washington and Capitol Hill in Tallahassee. The NAA Capitol Conference and the FAA Legislative Conference both were held in March. Both events are focused on government affairs and provide industry professionals with an opportunity to learn what’s being considered in the capital cities and advocate for multifamily housing’s priority issues. The #1 issue in Washington is the tenuous state of the American economy and the lack of a consistent source of debt capital. Without liquidity in the capital markets, property owners find it difficult to meet future housing needs. At the same time, the industry faces growing loan maturing issues as financial institutions are reluctant to extend any real estaterelated loans. FAA members also expressed their concern with the proposed change in the taxation of “carried interest” and their opposition to the Employee Free Choice Act. At the same time, some FAA members said “Thank You” to the legislators and their aides for encouraging the Obama Administration to fund the high-speed rail connection between Orlando and Tampa. Just the prospect of the high-speed rail connection has advanced light rail systems in Central Florida and the Tampa Bay area. Apartment professionals are supporting the rail initiatives and associated transitoriented development or TOD. The areas around train stations create multifamily, high density opportunities. A record number of FAA members visited Tallahassee for FAA Legislative Days. On March 24, they participated in more than 100 legislative appointments and called attention to three priority issues. cap on the dedicated doc stamp revenue source for affordable housing. The Sadowski Act was enacted in 1992 to provide a dependable source of funding for Florida’s housing programs. One of those programs is SAIL, the State Apartment Incentive Loan program, which preserves existing apartments that provide affordable housing for Florida’s elderly and most vulnerable populations. #3 RECYCLING MANDATES The Florida Department of Environmental Protection has presented recommendations to the Legislature for implementing the 75% statewide recycling goal. The recommendations included this comment: “It is time for the State to require recycling from both the commercial sector as well as multifamily residential units.” The apartment industry asks for a “seat at the table” as the State determines how best to achieve this aggressive goal. By its nature, an apartment community with hundreds of residents presents more complex challenges to recycling programs than a single-family home (“single stream,” multiple receptacles, etc.). Watch for the monthly, electronic FAA newsletter, E-Connect, for the latest updates on the apartment industry’s priority issues. MultifamilyFLORIDA l SPRING 2010 l 7 #1 RETROACTIVE APPLICATION OF FIRE CODES More than 40% of the apartment units in Florida were built before 1987. When constructed, these buildings complied with the building, fire, and life safety codes. Today, many of these twenty-plus year-old buildings are being required to comply with current, stricter codes. City and county officials argue that the new codes will help save lives. Apartment owners and managers are placed in the difficult position of arguing that the retroactive application of fire codes requires expensive, sometimes structural, retrofits. #2 REMOVE THE CAP ON THE SADOWSKI AFFORDABLE HOUSING TRUST FUND FAA members asked their legislators to repeal the artificial and arbitrary

Table of Contents for the Digital Edition of Multifamily Florida - Spring 2010

Multifamily Florida - Spring 2010
FAA Calendar
President's Message
Legislative Update
FAA Legislative Days
NAA Capitol Conference
Market Report
In the News
Product/Service Council Directory
Index to Advertisers

Multifamily Florida - Spring 2010