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Leslie Mostow
Chairman - NCBC
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Treasury Supports Extension of New Markets Tax Credit Program
On Nov. 21, Arthur Garcia, director of the Treasury Department’s Community Development Financial Institutions (CDFI) Fund, indicated that the Treasury department endorses extension of the New Markets Tax Credit (NMTC).
The NMTC provides a tax credit equal to 39% of a qualified investment over a seven year period for investments related to business development in economically-distressed areas. Under present law, the NMTC program will expire at the end of 2007, with no further allocations of credit thereafter.
Garcia’s comments were published in a letter from the CDFI to the
Alliance
for Economic Development, an organization consisting of NMTC investors who support extension and expansion of the tax program.
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Real Estate Provisions in Last-Minute Tax Bill
In one of the last acts of the 109th Congress, lawmakers in the wee hours of Dec. 9 passed a major tax and trade bill that includes several expired tax provisions that have languished for nearly a year. The measure would also normalize trade relations with
Vietnam
and extend through 2008 duty-free access to the
U.S.
to more than 100 developing nations.
The major tax portion of the bill includes extensions of the research and development tax credit through 2007, and a two-year renewal of the deduction for state and local taxes and higher education tuition expenses.
The bill also contains several real estate-related provisions. Items of importance to home builders include:
- Extension of the placed-in-service date requirement for the GO Zone bonus depreciation on nonresidential real and residential rental property.
- Extension of the New Markets Tax Credit program and expansion to better serve the needs of rural communities.
- One-year extensions of the credit for new energy-efficient homes, the credit for residential energy-efficient property and the deduction for energy-efficient commercial buildings.
- Extension of expensing of brownfield remediation costs and expansion of the definition of a brownfield to include sites contaminated by petroleum products.
- Permanence for a change to the veterans' mortgage revenue bond program that eliminates the sunset of the program in selected states.
- Waiver of the first-time-home buyer requirement for veterans in the mortgage revenue bond program.
- Establishment of a one-year deduction for private mortgage insurance.
Also of note, the legislation includes a measure sponsored by Sens. Harry Reid (D-Nev.) and John Ensign (R-Nev.) that would promote land conservation in
White Pine County
,
Nev.
As originally written, the legislation called for mandatory federal inclusionary zoning policies to address unique local development issues.
NAHB lobbied against this provision, noting that inclusionary zoning policies are not an effective way to address a community’s housing affordability problem and that any solution to address this issue must come locally, not from a federal mandate. In a significant victory for NAHB, the mandatory exclusionary zoning requirements were stripped from the final bill.
For more information, e-mail Greg Brown at NAHB or call him at 800-368-5242 x8421.
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NCBC To Host Meet the Experts Luncheon at IBS
Thinking about diversifying into light commercial construction? Already in the business and looking for tricks and tools? Be sure to attend the free Meet the Experts Luncheon, hosted by the NCBC, during the 2007 International Builders' Show on Wednesday, Feb. 7 from Noon to 2:00 p.m. in room W104A on Level I of the Convention Center.
NCBC member experts in building for the public sector, building and leasing, financial management and other specific light commercial projects will answer your questions and lend their expertise to help you make good business decisions.
The Council has put together a panel of experts who will talk about diversifying your business to include light commercial construction.
There is no cost to IBS attendees. If you have any questions or would like information, please contact Nick Lashinsky.
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Sustainable Vinyl Featured at Green Building Expo
Vinyl’s numerous energy-saving, environmental and health benefits were on display in November at the nation’s principal green building expo.
The three-day GreenBuild International Conference & Expo in Denver features green and sustainable products ranging from non-slip flooring made from 100% recycled vinyl to insulated vinyl forming systems for building foundations, energy-saving vinyl windows and roofing, and huge PVC sewer pipes made with recycled content.
Architects and designers are increasingly finding that vinyl’s infinite flexibility, durability and well-established, energy-saving qualities represent one of the most effective ways of meeting the evolving standards for green buildings, noted Vinyl Institute president Tim Burns.
An increasing number of home-building and major construction products are also now using recycled vinyl, Burns said. The Plastic Pipe and Fittings Association booth at GreenBuild features sections of sewer pipe made with post-consumer vinyl content, including recycled vinyl siding.
Oscoda Plastics, of Oscoda,
Mich.
, is showing its “Protect-All” slip-resistant, fire and water resistant specialty flooring made from 100% recycled vinyl. Protect-All flooring resists mildew and other bacterial growth and is non-corrosive, even when exposed to chemicals or grease.
John Rouse, national sales manager of Oscoda Plastics, said the company recycled six million pounds of post-industrial vinyl from the automotive and roofing industries last year alone to produce Protect-All flooring. The non-slip flooring is ideal, he said, for building entrances, gymnasiums, locker rooms, industrial kitchens, pool decks and automotive service garages.
Also of special interest to builders at this year’s expo is Energy Edge, the new, energy-saving vinyl insulated edge forming system for slab construction. Made by Energy Edge of Wichita, Kan., the system saves time and labor, conserves natural resources and helps buildings qualify for the Green Building Council’s LEED points, noted vice president Casey Barbour.
“We are being sought out by every aspect of the building industry because we are the first to provide a product that effectively and efficiently insulates the slab edge, completing the building envelope and meeting code,” she said. Building and home owners not only enjoy significant energy savings, but a reduction in molds, mites and mildews that often build up in traditional floors.
Courtesy of the Vinyl News Service
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McGraw-Hill Construction Releases 2007 Construction Outlook
On Oct. 27 at its 68th annual Outlook Executive Conference McGraw-Hill Construction, part of The McGraw-Hill Companies (NYSE: MHP), released its 2007 Construction Outlook. The forecast is that the 2007 construction market will be a mix of pluses and minuses, with the net result that the forecast for total construction is $668 billion, a modest 1% decline.
The forecast will be influenced by the deflation of the single-family market, which boomed from 2000 to 2005.
“Single-family housing has fallen more steeply than what we had anticipated and the correction is taking place faster,” states Robert Murray, McGraw-Hill Construction vice president of Economic Affairs and Chief Economist. He continues, stating that the construction industry “no longer has single-family housing to bolster total construction.”
Despite a 5% forecasted decrease in single-family housing, the construction industry will have several growth sectors. Specifically, institutional buildings will advance 7% in dollar volume and 4% in square footage. Manufacturing building is expected to rise 14% from a lackluster 2006 performance, and public works construction will grow 5% on top of the 10% increase in 2006 due to highway and bridge construction, as well as environmental projects.
For the complete 2007 Construction Outlook, go to http://construction.ecnext.com/coms2/analytics_nahb.
As a member of National Commercial Builders Council, you receive a 25% discount on all of our analytics reports. Simply enter the code NAHB25A at checkout!
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Tickets Available for Safety Awards Luncheon
In conjunction with the upcoming International Builders’ Show, NAHB will be presenting the “First Annual Safety Awards for Excellence Luncheon” in recognition of builders who have developed excellent work site safety programs and made outstanding contributions to advancing construction safety. Fannie Mae is sponsoring the award in support of NAHB’s efforts to promote best practices in the housing industry.
The awards ceremony will be hosted by Scott Morgan, of HGTV’s “Dream Builder” show. Morgan has a background in home building, including working on the construction of solar homes, and he has hosted several specials for HGTV, including “Eco-Smart Living,” “Blitz Build 2000” and “The Western Home Awards.”
The luncheon will take place from 12:30-2:30 p.m. Friday, Feb. 9 at the Peabody Orlando Hotel just across the street from the convention center. Tickets are $50 per person, or $450 for a table of 10.
Award finalists are posted on www.nahb.com/SAFE, and the winners will be announced at the luncheon. To purchase tickets, click here. Advance registration is required for this event. Online tickets will be available until Thursday, Feb. 1.
For more information, go to www.nahb.org/SAFETICKETS.
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Dell for the Holidays: Double Discounts Through Dec. 31
This holiday season, Dell is offering double discounts to NAHB members on an array of products designed to meet the technology needs of your company.
That means Dell’s normal discounts of 3%-5% to NAHB members will double to 6%-10% on essential small business technology, including business-class desktops and cutting-edge notebooks.
Dell not only has the technology to make your home building business run more efficiently — it also offers NAHB members a more efficient way of doing business.
To Get Your Discount
Visit the Member Advantage main page on the NAHB Web site and click through Dell for complete details.
To maximize your Dell Member Advantage Discount:
After you have made your selections and are ready to purchase, call your dedicated Dell sales representative at 888-577-3355, Monday-Friday, 7:00 a.m.-8:00 p.m. (CST) and Saturday, 8:00 a.m.-5:00 p.m. (CST).
Your sales representative will apply your NAHB member discount to your order.
NAHB members who have previously ordered from Dell also receive a monthly catalog, which includes this double discount offer.
The Dell Double Member Discount* offer is valid through Dec. 31.
* Double discounts do not apply to the preconfigured systems which are already priced at up to 20% off.
Other Member Advantage Discounts
For the most up-to-date details on the Member Advantage discount program and all of the participating companies, go to the Member Advantage main page on the NAHB Web site.
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