Association News Rochester Chapter

Each November, RAC NYSCAR endeavors to honor and recognize Broker members and Affiliate members for outstanding achievements in the Commercial Real Estate industry and in community activity.  We are still looking for nominations for our Commercial Real Estate awards!

Did you close a big Commercial lease or sale deal this year? Do you know someone who did?  Who would you nominate? Our awards will be presented at the 18th Annual President's Dinner and Awards Ceremony on Thursday, November 14, at the Casa Larga Vineyards and Winery.  These are the awards we present each year: Download the list of awards.  Please email Mercedes Brien, Awards & Scholarships Committee Chair, with your nominee(s) at mercedes@missioncommercialrealty.com or call at 585-330-4890 (cell) or 585-348-9170 (office).

June 10, 2019

From Joseph F. Rowley, Jr., RAC NYSCAR Governmental Affairs Chair:

Below is an email with a link to our Legislature and Senate.  We have only 4 days (June 14) until a vote.  Please help to stop rent control in Upstate New York.  If New York City wants rent control, let them have it.  We don't want this to happen here as it will greatly impact development in our region.  Read more below.

 GOVERNMENTAL AFFAIRS
Act Now: Oppose Burdensome Rent Restrictions! 

The New York State Legislature is poised to enact legislation expanding rent controls and limitations on evictions. Contact your state legislators today and urge them to oppose this misguided legislation.

EMAIL YOUR LEGISLATORS NOW

One of the most harmful effects of rent control is the downward pressure placed on development. According to a survey of the American Economic Association economists, 93% agreed that rent control has a negative effect on development.

When rent control is implemented, building development tends to move to more appealing cities. This leaves rent controlled areas with a stagnant, or more likely, decreasing housing stock. And with less supply, the cost goes up. The impact of less development goes beyond the quantity of available housing. 

Similarly, the limitations that S2892A/A5030A would put on evictions will make residential real estate a less attractive investment by lowering the value of properties and increasing the risk to the owner. De-incentivizing development will only serve to exacerbate the affordable housing crisis by halting the growth of new housing and reducing the quality of existing housing.

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LEGAL ADVISORY FROM RAC NYSCAR AFFILIATE MEMBER, HARRIS BEACH PLLC:  Recent Decision Narrows Commercial Tenants’ Recourse to Yellowstone Injunctions

Last week, in 159 MP Corp. v. Redbridge Bedford, the Court of Appeals upheld a recent decision of the Second Department that limits the rights of commercial tenants to obtain Yellowstone injunctions.  Read Full Article

Our Golf Tournament is just around the corner! Join us on Monday, July 22, for our 18th Annual Golf Tournament at The Links at Greystone.  Register now to play golf, sponsor or just join us for dinner. Pay by check or pay via PayPal. Enjoy a great day of golf with friends and colleagues.  Win some  fabulous prizes!  Our raffle will benefit the REALTORS® Charitable Foundation again this year.  Register today!!

From the Desk of Ginny Squire, RAC NYSCAR 2019 President:

I am absolutely thrilled to announce that our own Mercedes Brien, RAC NYSCAR Past President, has been named the New York State Commercial Association of REALTORS® Realtor of the Year!! The NYSCAR Realtor of the Year recognizes and honors those who have served not only in the Commercial Real Estate profession but also within their community. Mercedes' award was presented to her at the Board of Governors General Session, held on Tuesday, February 12, 2019, in the King Street Ballroom at the Desmond Hotel and Conference Center in Albany, NY. Congratulations, Mercedes!! Mercedes is also serving as this year's Secretary on the NYSCAR Board of Governors. 

Doug Johnston, Principal of Impact4Results, was our special guest speaker for our January 19 Kick-Off Luncheon.  Doug’s topic was “Thriving in Conflict,” and his points were very relevant and his suggestions to resolve conflict issues were insightful.  View the video of Doug’s presentation.

Based on the results of the Membership Technology Survey, members expressed an interest in learning about the new and changing technology trends that will affect Commercial Real Estate in the coming year.  Therefore,  the RAC NYSCAR Technology Committee has prepared a handout with six quick trends to watch out for in 2019.  There is also a link to one of the sources used to prepared the handout if members would like a more in-depth picture of what’s to come; check it out!
 
Also, as a result of the formation of our RAC NYSCAR Technology Committee, the State has decided to form their own State-wide Technology Committee, of which Mercedes Brien will be the Chair. 

LEGAL ALERT FROM RAC NYSCAR AFFILIATE MEMBER, HARRIS BEACH PLLC:  Mixed-Use Development Incentives for Downtown Rochester Extended to 2021

A valuable incentive for mixed-use development in downtown Rochester has been extended. The City of Rochester has reauthorized an exemption from real property taxation and special ad valorem levies for the conversion of property within the Rochester Center City Zoning District from non-residential to a mix of residential and commercial uses.  Read Full Article

LEGAL ALERT FROM RAC NYSCAR AFFILIATE MEMBER, HARRIS BEACH PLLC:  White House Opportunity and Revitalization Council to Facilitate Investment in Opportunity Zones.

President Trump has established the White House Opportunity and Revitalization Council (the “Council”) by Executive Order 13853 (“Order”) issued on December 12, 2018. Its stated purpose is to encourage public and private investment in urban and economically distressed areas, including Qualified Opportunity Zones (“QOZs”).

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