Washington Mischief: Federal Regulations and the Impact on Development
By Peter Madrid
Cushman & Wakefield of Arizona, Inc.
From terror risk insurance to energy development with Mexico to immigration to the clean water act, a mixed bag of federal issues wasdiscussed at Valley Partnership’s July breakfast at the Phoenix Country Club.
Patrick Cunningham, General Counsel of HighGround Public Affairs Consultants served as moderator. The panel featured U.S. Congresswoman Kyrsten Sinema and U.S. Congressman Matt Salmon.
With Congress and federal agencies continually introducing new laws, rules, regulations and policies that impact the ability to develop real estate in Arizona, Sinema and Salmon addressed a number of issues affecting our industry.
Some of the highlights:
> Real estate and new business: Discussed were new market tax credits and issues affecting the expansion of Phoenix/Mesa Gateway Airport.The Terrorism Risk Insurance Program Reauthorization Act is set to expire on Dec. 31. It provides for a transparent system of shared public and private compensation for insured losses at a place of work resulting from acts of terrorism.
> Economic development: With Mexico the No. 1 trade partner with the U.S., Salmon said it is important to share energy development with our neighbor to the south. Joint drilling for oil and gas will help our energy costs and provide jobs.
> Regulatory Improvement Act: Sinema discussed eliminating regulations “no longer needed, tired or don’t work.” The act requiresthe Regulatory Improvement Commission to evaluate and provide recommendations and proposed legislation for modification, consolidation, or repeal of regulations that have been finalized not later than 10 years before the establishment of the Commission and have not been amended after being finalized (covered regulations) for the purpose of reducing compliance costs, encouraging growth and innovation, improving competitiveness, and protecting public health and safety.
> Immigration: Sinema said current immigration laws are “incredibly complex and difficult to navigate. I’m not sure what the long-term consequences will be. We have to come up with a solution that is comprehensive.”
Community Project update:The Community Project committee unveiled plans for the 2014 event, scheduled for Nov. 8 at Arizona Foundation for the Handicapped. Work will be done in four “experiences” – recreational, serenity, culinary and vocational, and artistic.
An updated needs list also was distributed on the tables.