Guidelines issued under FHA reasonable modifications provision
On March 5th, the Departments of Housing and Urban Development (HUD) and Justice (DOJ) released guidance reinforcing the right of persons with disabilities to make "reasonable modifications" to their dwellings if a structural change to their dwelling or to a common area of the building or complex in which they live is needed. The guidance is designed to strengthen housing providers and homeowners' associations' understanding of their obligations regarding the "reasonable modifications" provision of the federal Fair Housing Act (FHA).
The new guidelines, issued in the form of questions and answers, cover such topics as:
What is a reasonable modification?
Who must comply with the reasonable modification requirement?
Who is responsible for expenses associated with the upkeep or maintenance of a reasonable modification?
When and how should an individual request permission to make a modification?
What types of documents and assurances may a housing provider require regarding the modification before granting the modification?
What procedures are available to a person wishing to challenge a denial of a requested modification?
The guidelines are available online at http://www.usdoj.gov/fairhousing.
U.S. House Passes Bill Providing Energy Efficient Commercial Buildings Tax Incentives
On February 28th, the House passed H.R. 5351, the Renewable Energy and Energy Conservation Act of 2008, by a vote of 236 to 182. The bill would extend federal tax incentives for energy efficiency and renewable energy technologies that have expired or will expire at the end of this year. Specifically, it extends tax incentives for energy efficiency in commercial buildings.
IREM, the CCIM Institute, and NAR are part of a coalition that supports H.R. 5351. The coalition sent a letter in support of the bill to House Representatives prior to the House vote on the bill. In its letter the coalition stated that the incentives must be extended immediately to avoid significant harm to the developing clean energy industries in the United States. The technologies produced by these industries play a vital role in reducing global warming pollution, creating new high-wage jobs in our country, and saving consumers and businesses money on their energy bills.
Two Year Ban on Banks in Real Estate
On December 26, 2007, President Bush signed into law the FY2008 omnibus appropriations bill which includes a two-year provision prohibiting banks from entering the real estate brokerage, property leasing and management business. The National Association of Realtors continues to lobby for a permanent ban.
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary