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March 20, 2023
On March 15, the New York State Assembly and State Senate released their counterproposals to Gov. Kathy Hochul’s budget.
Why it matters: The Governor’s Budget Process is the main legislative vehicle for enacting laws in NY. While the Governor did not propose the mezz tax or good cause eviction, the legislature could have added them to its own proposals.
Hochul still could have vetoed the provisions, but inclusion in the counterproposal would have put the policies much closer to enactment if they were used as a bargaining chip or funding source.
By the numbers: While the legislature did not add in the mezz tax or rent control that could negatively impact CRE and multifamily finance, the Assembly did eliminate several affordability focused proposals that Hochul had proposed.
What’s next: The Governor and the legislature will continue to negotiate on the provisions to pass a final budget by April 1 (though that timing may slip). CREFC will continue to monitor developments.
Contact David McCarthy (firstname.lastname@example.org) with questions.
The 2016 presidential primary field was crowded and competitive, with 17 candidates seeking the Republican nomination. While the 2024 field may not be as large (yet), it is shaping to be just as competitive.
Three candidates have officially declared for the Republican nomination for President in 2024:
Three doesn’t seem like a crowd….yet. However, five other well-known Republicans are mulling a potential run:
The bottom line: In political time, it’s a lifetime until the 2024 Republican National Convention. Over the next 17 months, CREFC will continue to highlight the GOP Presidential primary candidates as the field takes shape.
Contact Chelsea Neil at email@example.com with any questions about the 2024 cycle.
Sign up for CREFC's Women's Network.
The mission of the Young Professionals (YP) Network is to provide a platform for junior CRE finance professionals to foster meaningful business relationships and gain relevant industry knowledge through networking events, seminars and panels.
YP programming events are developed by YPs – so the content is current and applicable in their daily work. Each YP educational event includes a networking aspect to build and foster industry relationships with both peers and seasoned industry leaders. YPs are surveyed by region for ideas for future programming to ensure educational and industry needs are met.
Additionally, there are networking only events held in a more relaxed atmosphere where YPs can mingle among their peers.
There is a discounted rate to conferences and seminars for those CREFC Members 30 years of age or younger. To sign up for the 30 and Under Program Rate join the network and ensure that you check off the box “I would like to sign up to receive the “30 and Under Program Rate”. You will be required to submit photo ID to be approved for the discounted program rate.
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The affairs of CRE Finance Council are managed by a Board of Governors, selected from the general membership, which meets at least two times a year. During the periods the Board is not convened, the Executive Committee has full authority to transact all CRE Finance Council business. The Executive Committee is made up of the chairman, chairman-elect, vice president, secretary, treasurer, membership chair, administrative executive, as well as four additional Executive Committee members. View the CREFC By-Laws.
Our members shape the commercial real estate finance industry with our advocacy initiatives. Through a collaborative process with our members, CREFC develops official policy positions that are presented as needed to legislators and regulators. These policies are developed through participation in our forums. CREFC also maintains fact sheets in online and PDF format on all major CRE issues and informs members weekly of the latest regulatory developments. To make a difference in the direction of our industry, sign up for a forum and participate in our advocacy efforts below. Contact Justin Ailes with any CREFC policy or advocacy questions.
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Read the latest issue of CREFC's weekly Policy and Capital Markets Briefing
CREFC’s Policy Tracker includes a variety of visual aids and updates to help members understand, track, and analyze key policy issues affecting the CRE and multifamily finance industry.
CREFC’s Sustainability Initiative seeks to align the objectives of our members and the CRE finance industry with the opportunities and challenges of environmental, social and corporate sustainability.
For our weekly government relations and industry policy briefings, please visit our Document Resource Center. The Document Resource Center contains CREFC position papers, analyses, testimony, and other policy tools.
Read CREFC's thought leadership paper: Multifamily Housing Affordability in the Age of COVID and Beyond
Don't miss a beat! Remain informed on all things CRE and beyond by checking out CREFC's Archive Page. The archive houses legislative and political resources, developed and curated by CREFC's Government Relations team, needed to thrive in today's market.
CREFC offers industry participants an unparalleled ability to connect, participate, advocate and learn!