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November / December 2020 Issue (Volume 53, Number 6)

Business Facilities

In the November / December 2020 Issue, we unveil our new 21st Century Site Seekers' Guide and Site Seekers’ Guide Featured Locations Directory. Read: November / December 2020 Issue (Volume 53, Number 6) at BusinessFacilities.com. Plus an update on economic development's response to COVID-19.

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179D Tax Deduction Allocated from Government Buildings

Green Building Law Update

On December 20, 2019, the President signed legislation reviving the Section 179D energy efficient commercial building tax deduction and while much has been written about the much needed boost to green building, little has been said about the enormous benefits available from government owned buildings. IN GENERAL. EFFECTIVE DATES.

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NAR Report Shows Fewer Buyers Waiving Appraisal, Inspection Contract Contingencies

Pro Builder

Just 19% percent of buyers waived the inspection contract contingency in December 2021, down from a peak 27% in July, while 21% of buyers waived the appraisal contingency in December after a peak of 29% in June 2021. FHA also recently launched an automated underwriting system in October 2020.

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Bird Friendly Building now the Law in Howard County

Green Building Law Update

And interestingly, New York City passed a building code amendment last year requiring effective December 2020 the lowest 75 feet of new buildings to incorporate “avian-friendly materials” (. But there are problems with allowing public sentiment reacting to the environmental issue of the minute to dictate public, policy.

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179D Tax Deduction Brought Back to Life thru 2020

Green Building Law Update

. – Section 179D(h) is amended by striking ‘‘December 31, 2017’’ and inserting ‘‘December 31, 2020’’. – The amendment made by subsection (a) shall apply to property placed in service after December 31, 2017. It is dramatic that this tax deduction was revived back to December 31, 2017 (. EFFECTIVE DATES.

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NAHB Predicts Multifamily Housing to Bounce Back in 2022

Pro Builder

A recent NAHB analysis found 34% of multifamily construction in 2020 happened in lower density and lower cost markets. Turning to the forecast, multifamily starts are expected to fall 11% this year to 349,000 units from a projected total of 392,000 in 2020. After four years of a steady, upward trajectory, rent growth flattened in 2020.

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Building Material Prices and Availability Top Builders’ List of Challenges

Pro Builder

Building material prices, availability, and time it takes to obtain building materials are the biggest problems builders faced last year, and they expect these issues to continue through this year. For availability and time to obtain building materials, 78% of builders struggled and 80% expect this issue to carry on.