Building  Owners  and  Managers  Association  International

Building Owners and Managers Association International

Building Owners and Managers Discuss Critical Issues with Lawmakers

April 11, 2011

​FOR IMMEDIATE RELEASE

BOMA International’s National Issues Conference Spurs Advocacy across the U.S.

(WASHINGTON—April 11, 2011) Members of the Building Owners and Managers Association (BOMA) International recently met with lawmakers around the country to gain support for issues important to the commercial real estate industry as part of BOMA’s annual National Issues Conference. By early estimates, BOMA members reached more than 200 congressional offices as they outlined BOMA´s 2011 legislative agenda, including commercial real estate’s stake in issues such as leasehold depreciation and energy efficiency incentives for commercial buildings. Because of the new Congressional work schedule, the conference, which usually takes place in Washington, D.C., was held locally around the U.S while lawmakers were in their home districts, allowing a record number of BOMA members to participate and maintain a very “local” focus to the event.

“The commercial real estate industry is a key driver of the economy.  Office buildings alone support one million jobs in the Unites States and contribute $118 billion to the GDP. It is critical that lawmakers understand our issues and their impact on the nation’s economy,” remarked BOMA International Chair Ray H. Mackey, Jr., RPA, CPM, CCIM, partner and chief operating officer, Stream Realty Partners, L.P. “The National Issues Conference gives us the opportunity to advocate for policies that will allow our industry and the economy as a whole to thrive.”

Leasehold depreciation and energy efficiency initiatives were two of the critical issues BOMA members discussed with lawmakers.

Leasehold depreciation. BOMA urges Congress to make permanent the 15–year timeline for the depreciation of tenant improvements, which is set to revert back to 39 years at the end of the year. BOMA believes that a 15-year timeline more accurately reflects the reality of the marketplace as leasehold improvements typically don’t last longer than 15 years before they are replaced. Depreciating improvements over 39 years reduces investment in improvements that help foster productive economic growth.  As a result of a meeting with BOMA Dallas members, Senator Kay Bailey Hutchison agreed to sign on as an original cosponsor of legislation to extend permanently a 15-year depreciation schedule for restaurants, retail, and leasehold properties, which was introduced in the Senate and House last week.

Energy efficiency incentives. In February, the Obama Administration launched the Better Buildings Initiative, a new program that aims to make commercial buildings 20 percent more energy efficient over the next decade through a series of incentives that BOMA supports, such as tax credits and improved financing and loan guarantees. BOMA also calls on Congress to consider more robust conservation and demand side management tools, such as tax incentives, to address the growing energy challenge.

Members of Congress were receptive to BOMA’s message and several expressed support for legislation based on BOMA’s policy positions. In addition to discussing specific issues, BOMA members also had the opportunity to educate their legislators on the state of the commercial real estate industry, the industry’s contribution to the economy and its vital role in job creation. The relationships forged through these meetings will go a long way in helping members of Congress develop responsible public policy and understand its potential impact on the real estate industry.

For more information on BOMA International’s policy positions and the National Issues Conference, visit www.boma.org.

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About BOMA International
The Building Owners and Managers Association (BOMA) International is an international federation of more than 100 local associations and affiliated organizations. Founded in 1907, its 16,500-plus members own or manage more than nine billion square feet of commercial properties. BOMA International’s mission is to enhance the human, intellectual and physical assets of the commercial real estate industry through advocacy, education, research, standards and information. On the Web at www.boma.org.

Contact
Lindsay Tiffany
Manager of Media Relations
(202) 326-6365
ltiffany@boma.org