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Greetings from Michigan Realtors®! View the top 5 news and resources for the month of January:
1. Local Associations Recognized for Their RPAC Efforts at Annual Luncheon
The Michigan Realtors® would like to thank all of the local associations who made the final push for RPAC investors at the end of 2015. With a state RPAC goal of $750,000, Realtor® members met and exceeded it with a final total of over $805,000! In addition, 27 local associations met and/or exceeded their local RPAC goal! In the end, state RPAC contributions were at 104% of state goal! Local Associations were honored last week at the Annual RPAC Appreciation Luncheon during the Achieve Conference in Dearborn.
See Winners Here
RPAC Awards Facebook Album
2. Leadership Academy Students Support Local Boys & Girls Clubs
The Michigan Realtors® Leadership Academy Class of 2016 met for their first session of the year on January 21st, 2016 in Dearborn, Michigan. Through team-building activities that were designed to test and challenge their communication, negotiation, and leadership skills, the class split into three teams to build bicycles for the local Boys & Girls Clubs of Southeastern Michigan.
Unaware that the bicycles would be presented upon completion, both the children and academy students were surprised to meet in person after lunch and share in what would become a very memorable experience.
"Our children are our future. I cannot think of a better investment of our time! This event demonstrated the power of giving back to your local community while building leadership skills. As Realtors®, we look forward to the continued support of our Boys & Girls Clubs of Michigan.” said 2016 Michigan Realtors® President, Gary J. Reggish.
Held in conjunction with the Achieve Conference, the class of 2016 has three more sessions scheduled for the remainder of 2016. Achieve attendance reached 195, featuring CE Marketplace Certified Knowledge Sessions, interactive networking events and the installation of newly elected Michigan Realtors® Officers and Directors. You can view photos of Achieve on the Michigan Realtors® Facebook page.
View Achieve Photos Here
Did you attend Achieve? We would like feedback on your experience. Visit the online schedule and click on the survey links next to each session. To take surveys for Concurrent Sessions you attended, click the View Details links under each timeframe.
3. Take Note: Detroit Storm Water Drainoff Policy Decision May Impact Commercial Properties
This information is primarily intended for Commercial Realtor® members. Many of you may be aware that commercial property owners in Detroit are assumed to be billed for their share of the cost of operating the Storm Water Drainoff System (SWDS), a system put in place pursuant to a Consent Judgement entered into with the Environmental Protection Agency to address pollution overflow and runoff into the Detroit and Rouge Rivers. The cost of operating this system requires that the City of Detroit take in approximately $106,000,000 in fees each year. Given this substantial sum, each commercial property was intended to pay based on its individual usage to account for the management of the SWDS.
Fast forward to 2015, in an effort to make sure each using property was being assessed properly, aerial mapping and research was undertaken to identify the universe of subject properties within the SWDS. It was determined that there was a marked disparity between the total number of properties using the system and the actual number of properties being assessed to pay for the system. What does this mean for those paying and those not paying? The answer to this question is currently being debated by City of Detroit officials.
We do know that by July 1, 2016, all non-residential properties of .25 acres of more will be assessed. While a policy decision by the City of Detroit has not been formalized, one significant concern for Commercial Realtors® is the monetary impact that could be imposed upon those properties that have been using the system but have never been billed. Since these fees can reach $745.52 per acre per month, the treatment of the newly identified properties remains a huge concern for current owners and marketability.
The City of Detroit now must determine whether to assess the newly identified properties prospectively or whether it will have a charge-back against the previously unassessed properties. That charge-back, if implemented, would probably be for no more than a three-year period. If a charge-back is implemented, the current owner of the previously unassessed properties could receive a substantial bill for the use attributable to their property. Further, marketing of these properties raises the issue of how to disclose information regarding a potential charge-back. While the issue is arguably a matter of public record and commercial transactions generally involve fairly sophisticated parties, a Commercial Realtor® may well save a client (buying, selling, or leasing) a significant amount of trouble by discussing how to address potential impacts from the SWDS on a transaction.
Michigan Realtors® will update its membership as soon as the City of Detroit makes a concrete determination.
4. Michigan Realtors® Member Benefits
Michigan Realtors® offers an array of competitively priced business products, services, and resources designed to provide you with a competitive edge and discounted pricing for many of the services you use every day. Our partners and programs include:
5. Michigan Realtors® Past Publications Available Online
Are you looking for a past article in Michigan Realtor® Magazine or E-News? You can view past publications on our web site.
View Publications Archives
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