Kairos Development Corporation Supports the Real Estate Industry
It’s nice to know that a large development corporation like Kairos spends time trying to better the economy and the environment. Last week they sent out their property manager, Velda Simpson, to Washington D.C. to battle our nation’s lawmakers and try to convince them on ways to better the real estate industry. I sure hope they listened to her because she did make some excellent points.
Simpson spent much of her time trying to get lawmakers to pass legislation promoting green building. Ideally, these laws will increase the number of green projects, both residential and commercial, by increasing tax incentives for energy efficient developments. Of course adding market-based incentives will also contribute an increasing number of energy efficient developments. If the builders can weigh the benefits and the costs, and realize it is to their great advantage to renovate and build energy efficient developments, you will see a drastic increase in green building.
Her visit included more than promoting energy efficiency as she also lobbied to protect commercial and multifamily projects. Apparently insurance companies are hesitant to insure such developments after natural disasters like Katrina and Rita. Many projects are finding it impossible to be approved for a policy or a suffering from dramatic increases in premiums. Simpson is trying to get the “Homeowners Defense Act” to also include protection for commercial and multifamily properties. She also is trying to ensure that the depreciation recapture rate is the same as the capital gain rates so that real estate is no longer disadvantaged. Great job Kairos for being an advocate for the real estate industry!
Tags: commercial real estate, green building, Kairos Development Corporation, real estate industry