BOMA DRIVES VALUE!

The mission of the Building Owners and Managers Association International is to enhance the human, intellectual and physical assets of the commercial real estate industry through advocacy, education, research standards and information.

 
                        

 

“BOMA New Jersey supports BOMA International’s efforts in Washington

on behalf of the Commercial Real Estate Industry.”

  • 09/13/2017 4:56 PM | BOMA New Jersey (Administrator)

     

    The Issue: Established in 1992, under the George H.W. Bush Administration, ENERGY STAR is a voluntary program that is currently used by over 450,000 commercial buildings, representing over 40 billion square feet of property, to track and improve a building’s energy and water use. The program and its related tool, Portfolio Manager is engrained in today’s real estate business models and operational practices. While ENERGY STAR typically receives widespread bi-partisan support, President Trump has proposed eliminating the program in the FY18 budget.

    BOMA’s Position: BOMA, a nine-time ENERGY STAR Partner of the Year award winner, strongly supports the ENERGY STAR buildings program. We urge Congress to maintain the program’s funding at its current levels in FY’18. ENERGY STAR is the pre-eminent program to foster high performance in U.S. buildings, help create jobs in the energy efficiency field, improve the nation’s energy security—and save money for families and businesses.

    Specific Ask: As Congress moves forward with the appropriations process for FY18, BOMA asks that you to ensure that ENERGY STAR is fully funded.

    Additional  Information:

    • ·         EPA’s data shows that 85% of consumers recognize ENERGY STAR as a trustworthy brand. More than 7,400 partner organizations – including 57% of the Fortune 100® – participate in the ENERGY STAR program.

    • ·     An estimated 2.2 million jobs are attributable to employment in the energy efficiency field. Manufacturing, construction, and retrofitting related to ENERGY STAR products and services account for a great majority of these jobs. The number of these jobs is growing as innovations rise related to energy efficient equipment and building technologies.

    • ·            In 2015 alone, U.S. businesses cumulatively saved $3.4 billion on utility bills through the ENERGY STAR buildings program. Families and businesses have saved more than $430 billion dollars in utility bills since the program’s start.

    For more information please contact:

    John Bryant, Vice President of Advocacy, Codes & Standards, BOMA International, 202-326-6323, jbryant@boma.org

  • 09/13/2017 4:52 PM | BOMA New Jersey (Administrator)

    Thank you for your support of the commercial real estate industry’s issues. BOMA International members respectfully ask you to:

    • ·         Co-sponsor H.R. 620, “The ADA Education and Reform Act” which aims to curb

    frivolous “drive by” lawsuits by imposing a notice and a cure opportunity before the commencement of a private civil action under the Americans with Disabilities Act (ADA).

    Sponsors: Rep. Ted Poe (R-TX)

    Rep. Scott Peters (D-CA)

    • ·         Support EPA’s ENERGY STAR® program in the FY18 Budget. While ENERGY STAR typically receives widespread bipartisan support, President Trump has proposed eliminating the program in the FY18 budget. This is short-sighted and would potentially cause widespread disruption to the commercial real estate industry. More than 40% of the industry currently uses ENERGY STAR and there is simply no private market replacement. As Congress moves forward with the appropriations process for FY18, BOMA asks that you to ensure that ENERGY STAR is fully funded.
    • ·         Support tax reform policies that encourage the long term health of commercial real estate and provide certainty and stability to the marketplace.

    Comprehensive tax reform should maintain section 1031 “like-kind” exchanges and a low tax rate on capital gains, including carried interest, to incentivize investment. Tax reform should tie depreciation to realistic market data and allow for the continued deduction of interest.

    BOMA Staff Contacts:

    John Bryant-Vice President of Advocacy, Codes and Standards jbryant@boma.org, 202-326-6323

    Emily Naden-Director of Federal Affairs enaden@boma.org,  202-326-6326

  • 09/13/2017 4:50 PM | BOMA New Jersey (Administrator)

     

    The Issue: Our current tax system is cumbersome and in desperate need of updating. Current depreciation models do not accurately reflect the market reality for commercial building owners. In order to advance our industry and our economy, the tax code must be simplified and aligned with actual commercial asset and lease longevity.

    BOMA’s Position: Comprehensive tax reform policies must encourage capital investment in commercial real estate and provide long term certainty and stability to the marketplace. BOMA members need the tax code to be remedied and the economic models that the tax codes relies upon to be updated. However, we are concerned that sweeping change could have unintended economic effects on both real estate transactions and current holdings. As Congress drafts legislation, lawmakers need to consider important transition rules, data-proven depreciation schedules and partnership and rent taxing rules. They also must preserve both 1031 "like-kind" exchanges and the carried interest provision for general partners in real estate ventures.

    Tax Blueprint Concerns:

    • Commercial real estate contributes $235 billion to U.S. GDP, but the exclusion of certain provisions that currently encourage real estate as an investment, such as 1031 "like-kind" exchanges and carried interest, could curtail further growth.

    • The House GOP Blueprint is an incomplete picture of tax reform and does not offer incredibly important details on transition rules, partnerships rules, rules for REITS and how rents would be taxed.

    • One provision in the Blueprint, full expensing, is both unviable and economically destabilizing. Often referred to as "churning," this provision would encourage transactions for the sake of creating potential tax shelters not economic growth.

    For more information please contact:

    Emily Naden, Director of Federal Affairs, BOMA International, 202-326-6326, enaden@boma.org

  • 09/13/2017 4:46 PM | BOMA New Jersey (Administrator)

     

    BOMA International

    ADA Notice & Compliance

    The Issue: The Americans with Disabilities Act (ADA), signed into law in 1990, greatly increased the protection and advancement of the rights of Americans with disabilities. Because of this landmark law, accessibility has dramatically improved in buildings around the country over the past three decades. Unfortunately, some attorneys are undermining the spirit of the ADA by subverting the intent of the law for profits without improving accessibility. These attorneys file lawsuits over technical, easily correctable accessibility violations and pressure business owners into paying large settlements consisting principally of attorney’s fees. They are more interested in quick financial settlements than removing any ADA barriers.

    BOMA’s Position: BOMA believes that Americans with disabilities should have access to our members’ properties, and the obligation to ensure that buildings are fully compliant with ADA regulations is one we take seriously. To help our members with compliance issues, we authored the ADA Compliance Guidebook. We think that there should be safeguards built into the law to protect property owners from legal threats that do not allow them to first identify the ADA violation and then have a chance to remedy the problem before a financial settlement. This will ensure that disability access remains the primary driver of ADA lawsuits.

    Specific Ask: Support and co-sponsor H.R. 620, the ADA Education and Reform Act, introduced by Reps. Ted Poe and Scott Peters. This bipartisan legislation includes a notice and cure provision, which allows business owners 120 days to fix any ADA violations before having to pay legal fees. Plaintiffs retain all their rights guaranteed to them under the ADA, but small businesses are protected from expensive demand letters.

    Additional Information:

    • • ADA lawsuits ballooned by more than 37% in 2016 over 2015.

    • Most of these lawsuits do not serve the interests of accessibility and are disruptive and costly to small businesses.

    • BOMA believes that this legislation will lead to improved compliance with Title III of the ADA, as it directs resources towards compliance and not attorney’s fees.

    • While many states have passed state laws to curb ADA lawsuit abuse, a fix is needed in the federal statues to remedy this growing nationwide problem.

    For more information please contact:

    John Bryant, Vice President of Advocacy, Codes & Standards, BOMA International, 202-326-6323, jbryant@boma.org

    www.BOMA

 

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