On Tuesday, May 21, Governor Jay Inslee vetoed ESHB 1652, which would have deferred impact fees until the time of closing or occupancy. Following this action, Association President Brian Ross issued a statement, expressing disappointment in the Governor’s decision. Click here to view the statement.
Economist Elliot Eisenberg’s latest column explains why he believes those who say we are due for another recession are wrong. Eisenberg looks at past recessions and current economic trends, focusing on interest rates, to make the case for why there is no recession in sight.
On Tuesday, May 7, the Edmonds City Council approved an ordinance to extend preliminary approval of short plats from five to seven years with a 5-2 vote. This ordinance will extend the validity of preliminary short plat approvals issued on or before Dec. 31, 2013, and five years for preliminary short plat approvals issued on or after Jan. 1, 2014. Short plats that received preliminary approval on or after Jan. 1, 2006 and would have expired prior to the effective date of this ordinance will have their preliminary approval automatically extended for a period of two years from the effective date of this ordinance.
Last week, your Association sat down for a productive meeting with Snohomish County Councilmembers Stephanie Wright and Dave Gossett. We were able to hammer out a strategy for addressing concerns related to tree replacement requirements and roads in fee simple developments.
Last week we reported that Association Past President Jim Potter of Kauri Investments and former Association board member Robert Pantley of Natural and Built Environments, LLC were going to participate in the Seattle City Council’s Transportation Committee hearing on microhousing. The discussion took place on Capitol Hill last Monday, May 6.
The first stakeholder meeting on the 2014 King County Buildable Lands Report (BLR) will take place in Seattle this Thursday, May 16. Your Association will be involved with the BLR throughout the update process and will provide other stakeholders with information that will convey the importance of an accurate report. King County is unique in that most buildable land actually exists in the cities, which make up the majority of the urban land here. This complicates things somewhat because the county will rely on cities for an accurate accounting, as compared to other Growth Management Act counties where the county oversees a majority of buildable land.
At last week’s Residential Builders Council meeting, Auburn Mayor Pete Lewis shared the benefits of building in Auburn, including “a 75-percent reduction in all city building and utility permit fees and city park impact fees,” for those building in Auburn’s downtown. Applications must be submitted by Dec. 31, 2013 to receive the 75-percent reduction.
Under the Affordable Care Act, all employers that provide "applicable employer-sponsored coverage" or essentially a group health insurance plan are now required to report the value of that health care coverage on employee’s W2s starting in 2014.
Next Tuesday, Feb. 26, the King County Flood Control Zone District is expected to vote on the city of Kent’s floodwall plan. Earlier this month, the Executive Committee of the King County Flood Control Zone District voted 3-1 to recommend approval of Kent’s plan to improve the Briscoe-Desimone levee located along the east bank of the Green River.
Labor & Industries' (L&I) "Stay at Work" program s a new financial incentive program that encourages employers to bring their injured workers quickly and safely back to light-duty or transitional work by reimbursing them for a portion of their costs. Your association recently had a Group Retrospective Insurance Program (GRIP) participant who received the full $10,000 reimbursement, so you will want to check this out!
Your association is pleased to present this quarterly economic report prepared by Matthew Gardner of Gardner Economics, LLC. The report provides an overview of the Seattle metropolitan area’s economy and real estate market, with special emphasis on the fourth quarter of 2012. Gardner's report focuses on events that are of interest to the housing industry community and consumers alike.
While economic growth has been lackluster since the end of the recession in summer 2009, guest columnist and renowned economist Elliot Eisenberg, Ph.D. of GraphsandLaughs, LLC thinks this is likely to change, despite the sequester. In his monthly column, he gives his top four reasons why.
Guest columnist and renowned economist Elliot Eisenberg, Ph.D. of GraphsandLaughs, LLC, explains why he doesn't think inflation is an inevitablity.