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Congratulations! San Francisco Bay Area Chapter No. 21 receives FIVE STARS
By Chapter President James Kilroy, CPM, RPA
 In 2006 IREM began recognizing its Chapters based upon performance.
The Chapter Star Recognition Program recognizes IREM chapters for providing valuable member services and programs. The program awards points for specific activities based on criteria that define effective, successful chapters; some activities are required, others are elective. Then, based on total points earned, chapters can achieve Three, Four, or Five Star Status.
At the Legislative & Leadership Summit in Washington DC in April your San Francisco Bay Area Chapter was awarded the highest achievement, Five Star status for 2007.
While in Washington DC, Bay Area chapter officers and other IREM and CCIM Institute members joined together to lobby their legislators about issues important to our business. A combined total of over 275 commercial real estate professionals, including 250 IREM Members, participated in the eleventh annual event. Members representing 40 states and Washington D.C. voiced our industry's concerns on energy, natural disaster insurance, leasehold improvements, and capital gains/depreciation recapture in 225 separate meetings with U.S. Senators and Representatives and staff. Please read Legislative Vice President Chet Fitzell's article further in this newsletter.
In 2008, the San Francisco Bay Area Chapter continues to provide valuable member services and programs. In January, together with BOMA East Bay and Northern California CCIM, IREM SF hosted almost 250 luncheon guests at the Annual January Forecast Luncheon. The speaker, Dr. R. Sean Randolph, Chairman and CEO of the Bay Area Council Economic Institute, gave his views and predictions of the Bay Area economy. For more information and a download of his slide show presentation visit iremsf.org.
At the February luncheon, Robert Beck, Senior Program Manager of the Transbay Joint Powers Authority, described the proposed Transbay Center Project to about 50 IREM members and guests. The Transbay Transit Center Project will replace the current Transbay Terminal at 1st and Mission in San Francisco with a modern regional transit hub connecting eight counties in the Bay Area and the State of California through nine transit systems.
At the April luncheon, former State Senator and San Mateo Superior Court Judge and Chairperson of the High Speed Rail Authority, Quentin Kopp spoke about the plans for the California high speed rail project proposal on the November ballot. By linking all major cities in California with a state-of-the-art new transportation option, high-speed trains will move people and products across our state like never before.
California's planned 220 mph high-speed train system will increase mobility while cutting air pollution and reducing the greenhouse gas emissions that cause global warming.
Your chapter leadership will continue to provide valuable member services and programs to you. Read further and stay tuned for email announcements and visit iremsf.org for updates and promotions.
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Letter to IREM from Governor Schwarzenegger
June 1, 2008
Institute of Real Estate Management
Congratulations on your seventy-fifth anniversary, and greetings to all who have gathered to celebrate this tremendous milestone.
I appIaud this organization for your outstanding efforts to uphold the highest ideals of the real estate management industry. Your hard work translates into real estate professionals who are better equipped to manage their properties and improve the quality of life for the American people. Thank you for your outstanding service and seventy-five year legacy of achievement.
On behaIf of all Californians, I extend my best wishes for every continued success.
Sincerely,
Arnold Schwarzenegger
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 2008 LEADERSHIP AND LEGISLATIVE SUMMIT
By Chet Fitzell
Well known for innovation and leadership, several members of the IREM San Francisco Chapter have volunteered their time and energy to attend the Annual Summit in Washington D.C. Each year our membership participation continues to grow on our Legislative Committee due to the interest and concern of our membership regarding the various issues directly affecting our industry and our communities.
On April 16th, 2008, several of us attended breakfast with Senator Feinstein. It is truly a great starting point for us to meet with the Senator and her staff to review main issues being discussed by the Congress. After our breakfast with Senator Feinstein, we usually leave with more information and talking points that we can use during our meetings scheduled with various Congressional leaders.
Major issues we discussed this year with members of Congress included the following:
ENERGY: Climate change is the number one environmental issue in Congress and has been heard on the Presidential campaign trail. We were fortunate to meet with Senator Feinstein's top Legislative Assistant on Energy, Matthew B. Nelson. We discussed IREM/CCIM's support for the development of voluntary standards for reducing greenhouse gas emissions. IREM/CCIM both support positive incentives for energy conservation activities, specifically to extend energy tax credits and voluntary programs such as Energy Star.
Senator Feinstein's office would like to hear from you on this matter. Tax credits will be hard to push this year. Please send letters why you support this legislation along with photos, a story and how tax credits are being used by your clients. Send to Senator Feinstein, 331 Hart Senate Office Building, Washington, DC 20510.
PROPERTY/ CASUALTY/TERRIORISM: Due to the rising costs, affordable and accessible insurance is essential to the real estate market. IREM and CCIM Institute are "very concerned about the availability and affordability for property insurance. When property owners cannot obtain insurance, the entire real estate market is at risk." In November 2007, H.R. 3355 was passed by the House of Representatives to help address the availability and affordability of homeowners insurance in disaster-prone areas. This legislation fails to address the issues of commercial property insurance. The bill needs to be changed to include California.
S. 2286 was introduced by Senator Dodd and passed by the Senate Banking committee on August 1, 2007 to establish a bi-partisan commission to study and report back to Congress with recommendations for addressing availability and affordability by December 1, 2008.
LEASEHOLD IMPROVEMENTS: Congress has anticipated a review of depreciation since 2000. "Because the cost recovery period for real estate is currently so long, the ROI for investors is diminished. A shorter recovery period for real estate would improve ROI for assets." Both IREM and CCIM Institute support efforts to measure more accurately the depreciable life of building and to conform amortization periods of tenant improvements more closely to the term of the lease. The 39 -year time frame does not accurately reflect the useful life of a building and its components.
CAPITAL GAINS/DEPRECIATION RECAPTURE: Under current law, capital gains are taxed at a maximum rate of 15%. This rate is temporary and will revert to 20% as of January 1, 2011. When capital gains tax rates were reduced to 15% from 20% in 2003, the depreciation recapture rate remained at 25%. Before 1997, depreciation recapture amounts were taxed at the same rate as capital gains. IREM/CCIM favor the 15% capital gains and depreciation recapture rate. Unfortunately, we did not find many sympathetic ears. Congressman Stark's legislative assistant was in agreement coming from a commercial real estate family.
Once you join this committee and take the trip, you're hooked! The excitement and opportunity to meet with members of Congress and make a difference on issues that affect our industry is a reward in and of itself. |
| National 'Rebuilding Together' Day held on April 26, 2008 was a huge success!
On Rebuilding Together weekend, April 26, 2008, chapter members and members of Northern California CCIM met at the home of Ms. Lurlee Fountain in Oakland.
Together the group painted the exterior of the home, poured a new driveway slab and completed various other repairs to the home. The family was overjoyed.
A little info about Rebuilding Together-Oakland ...
Rebuilding Together-Oakland was founded in 1993 and became a non-profit 501(c)(3) in 1995. Their program is being expanded this year. In 2007 they helped 28 homes and 13 facilities. There were over 2,000 volunteers completing $1.2 million of improvements. This year, 2008, you will be part of 2,700 volunteers, rehabilitating 64 homes and 14 non-profit facilities. With an expected $1.4 million in improvements. You can see more about RTO @ www.rtoakland.org. | |
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10th Annual Diversity Luncheon
Friday, October 10
Sheraton
Fisherman's Wharf
San Francisco
As IREM SF celebrates a decade of recognition of the diversity speaker program, we are honored to have as our anniversary keynote speaker one of the most colorful and recognized personailities in the history of San Francisco.
Register Online |
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CELEBRATE IREM's 75th ANNIVERSARY
September 19, 2008
Mark your calendar for the Chapter's Reunion/Past Presidents Luncheon
Held at: Bankers Club atop the Bank of America Building, 555 California Street, San Francisco.
Our program will feature past presidents from the 1960's, 70's, 80's and 90's speaking on their meaningful experiences with IREM.
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Vote For 2009 Chapter Officers and Directors
Chris Donohoe, CPM heads the slate of next year's Leadership Team. Chapter members are invited to vote on line by clicking here. |
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Tenth Annual IREM/CCIM Golf Tournament
Monday, September 29th, 2008
Join us for the 10th Annual Golf Tournament at Crow Canyon Country Club in Danville!
Register Now
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| NEW! "Fair Housing and Beyond" Seminar
"Fair Housing and Beyond" is the result of an exciting collaboration between the Institute of Real Estate Management (IREM) and the National Apartment Association Education Institute (NAAEI) to address the need for comprehensive fair housing training in the residential real estate management industry.
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Tech Helpline Now Available to All IREM Members
Learn More
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NEW for 2008! IREM Financial Analysis Spreadsheet
Regular Price: $39.99
Member Price: $0.00
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Scholarships Now Available
A number of scholarships and grants are now available through IREM. The deadline for submission for several of them is September 30. For more information, and to apply, click here. | |
