WASHINGTON, DC – March 17, 2011 – (RealEstateRama) — Members of the Building Owners and Managers Association (BOMA) International will bring their message to lawmakers around the country the week of March 20 as part of BOMA’s annual National Issues Conference. As part of an industry that supports one million jobs in the United States and contributes $118 million to GDP in office building operating outlays alone, BOMA members will meet with their Representatives and Senators to explain the critical role commercial real estate plays in a thriving economy and to gain support for key industry issues. Because of the new Congressional work schedule, the conference, which usually takes place in Washington, D.C., will be held locally around the U.S while lawmakers are in their home districts.
BOMA members will convene in local Congressional offices to outline BOMA’s 2011 legislative agenda. Key issues to be discussed include:
- 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.
- 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. 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.
“The commercial real estate industry has a significant impact on the national and local economies and plays an important role in reducing our national’s carbon footprint,” commented BOMA International Chair Ray H. Mackey, Jr., RPA, CPM, CCIM, partner and chief operating officer, Stream Realty Partners, L.P. “During the Local Edition of our annual National Issues Conference, we will be working with policymakers around the country to ensure that they understand the issues affecting our industry. We look forward to working together toward a more prosperous, energy-efficient future.”
For more information on BOMA International’s policy positions and the National Issues Conference, visit www.boma.org.
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.