Public Affairs Update……………………………………………………….March 28, 2018
- NAR Testifies in Support of Association Health Plans Proposal
- Flood Insurance Soon Gets Costlier
- Rising Rates to Impact Homebuyers
- Limited Local Growth Ballot Initiative
- Pizza & Public Affairs Wednesday April 4, 2018 Noon to 1:00pm at BARA
- In Case you Missed It
NAR Testifies in Support of Association Health Plans Proposal
NAR offered its support on March 20 for expanded association health plans in testimony before the U.S. House Education and the Workforce Subcommittee on Health, Employment, Labor and Pensions. You can read the full testimony here: narfocus.com/billdatabase/clientfiles/172/1/3128.pdf
At the hearing, about affordable health care options and the Department of Labor's recently proposed AHP rule, NAR spoke in favor of DOL's proposal to enable self-employed individuals to participate in association health plans. NAR recently submitted comments on the proposed rule, which clarifies the definition of "employer" to include "working owners," or sole proprietors, independent contractors and self-employed individuals with no employees. The rule proposes to expand health insurance options available to those individuals, which includes real estate professionals – the majority of whom are independent contractors and typically do not have access to employer-provided health insurance coverage. You can read NAR's comment letter on the proposed rule here: narfocus.com/billdatabase/clientfiles/172/3/3116.pdf.
The rule opens the door to potentially allowing associations, including NAR, to offer health insurance coverage to its members through the large group insurance market, which usually offers more coverage options at lower costs than the individual insurance market. NAR believes that allowing working owners to access health coverage through a fully insured large group or self-insured AHP could improve members' ability to find comprehensive health coverage at a more affordable price.
Additional information on NAR's health insurance advocacy efforts is at www.nar.realtor/health-care-reform. [Source: NAR Update 03-20-2018]
Flood Insurance Soon Gets Costlier
On April 1, National Flood Insurance Program premium rates are set to rise an average of 8%. [Source: NAR Update 03-22-2018]
The Fed raised interest rates by a quarter point hinting at more hikes later in the year based on how the economy performs, this move could have a far-reaching impact on the housing industry.» READ MORE [Source: DSNews.com 03-22-2018]
Limited Local Growth Ballot Initiative
The proposed Limited Growth ballot initiative #66 would:
- Limit new permits for the total number of all housing units in each of the 10 most populous counties (Front Range) to 1% in both 2019 and 2020.
- Allows every Colorado City, Town, or County statewide to vote for housing growth moratoriums
- Prohibits permits between the election in November 2018 and January 1, 2019
- Voters would not be able to reconsider or alter the initiative in any manner if voters approved until at least 2021
Colorado’s economy has grown rapidly in recent years fueled by a strong job market, and an enviable quality of life that defines the Colorado experience. This potential statewide ballot initiative proposes placing arbitrary limits on growth that could cripple future economic prosperity and create new growth burdens on the already low inventory of housing available to Colorado consumers. This initiative would have a very significant detrimental effect on affordability of housing in Colorado. We cannot increase affordability of housing by decreasing the supply of housing.
The supply of affordable housing is a vital component to a regional economy. The availability of affordable housing is critical to retaining a skilled workforce, keeping local business competitive, and reducing urban sprawl. It also gives young people the chance to purchase rather than rent, allowing them to begin building valuable home equity.
Businesses also need to be able to continue to attract and retain talented workers that can afford to live and thrive in the communities where they work. A lack of affordable housing near employment centers pushes workers farther from their jobs, forces them to commute longer distances, puts undue strain on local roadways and public transportation, and dis-incentivizes workers and their employers to locate in Colorado. [Source: CAR Update 03-21-2018]
PLEASE TELL YOUR FRIENDS, COLLEAGUES, AND NEIGHBORS NOT TO SIGN THE PETITION TO PUT ARBITRARY HOUSING LIMITS ON THE BALLOT IN COLORADO!
Pizza & Public Affairs Wednesday April 4, 2018 Noon to 1:00pm at BARA
Guest Speaker: Audrey DeBarros, Executive Director, Commuting Solutions
She will be joined by several Private and Public Sector Transportation Leaders
What they will present:
Register today for our upcoming Pizza & Public Affairs on April 4! We will be discussing the transportation funding shortfalls in the region and asking attendees to provide feedback on the local and regional transportation needs that are important to your business and clients.
Transportation is crucial to business and real estate.
Don’t miss this conversation!
Transportation Matters is a bold initiative to spark critical conversations surrounding transportation funding shortfalls in the northwest metro region.
Whether you work, live or play in the northwest metro region, our community is a vibrant hub of economic activity and innovation. With our economy growing faster than our transportation network and funding shortfall of over 9 Billion dollars, Commuting Solutions in partnership with the US 36 Mayors & Commissioners Coalition, cities across the northwest metro region, Chambers of Commerce and Economic Development Partners are proud to introduce Transportation Matters, a business initiative dedicated to engaging stakeholders in the maturing conversation surrounding our transportation needs and coming together to achieve our multimodal future.
Transportation Matters aims to close the knowledge gap surrounding transportation funding, while encouraging businesses and real estate professionals to actively participate in achieving our multimodal future.
Every day, workers waste an average of 20.4 minutes in traffic. Not only is sitting in traffic reducing employee productivity, but currently transportation related costs are their second highest expense after housing. Traffic jams aren’t the only reason employees are being held up; congestion is becoming a drag on job growth within our community. With no clear source of sustainable transportation funding in sight, Transportation Matters is focused on presenting the facts and bringing new stakeholders to the table.
Transportation Matters invites key stakeholders to engage in the transportation conversation by providing feedback on the transportation projects and infrastructure that matters most to their business.
Whether you’re a corporation who enjoys the Colorado lifestyle or a small business owner or real estate professional who has lived in the community for decades, your input is critical! Transportation Matters is focused on learning more about not only the local and regional projects that matter to your community, but also why they are important to you.
This conversation is about you and your business. Don’t miss it…
In Case You Missed It
- John Gerstle reappointed as Boulder fills seats on housing board, 13 others
- The boom in Broomfield: City leads state in wages, job growth
- Longmont leads region on housing affordability
- Editorial: HUD mulls new mission statement