WeMAR is hosting a Tour of Opportunity Zones on June 26, 2019, 9am to 2pm. We will take a bus tour and meet with each participating city’s economic development team as we tour and learn more about Opportunity Zones. This is a free event, but seating is limited and you must register to reserve your seat. WeMAR will provide beverages and lunch.
HUD is seeking public comment asking how to maximize the impact of Opportunity Zones. The public comment period closed June 17th. WeMAR has submitted comments. You can read more about the WeMAR public comments and other comments submitted to HUD at www.wemargad.org.
Sun City West continues to have a confused status when it comes to FHA product availability. There is confusion in the market place still. Sun City West Recreation Center’s amended governing documents appear to comply with FHA Free Assumability, but there are questions. WeMAR has written to HUD asking for clarification, and HUD has responded. WeMAR has also written to Sun City West Recreation Center Management. You can read more about this issue and WeMAR’s communications at www.wemargad.org. If you or your clients decide to communicate with Sun City West, please let me know. You may contact Liz Recchia – Government Affairs Director at wemargad@wemar.org or 623-931-9294.
LIBOR – LIBOR is slated to go away at the end of 2021. Learn more about the language your clients need to look for in their current or new loans indexed to the LIBOR. Find information on the new reference rate, the SOFR (The Secured Overnight Financing Rate).
Join us for our next Government Affairs Advisory Council Meeting on June 25, at WeMAR. We will start the meeting at 10am with a Big Project update, next we discuss issues and new laws affecting you, your clients and real estate. We will close with a one hour Lunch & Learn. Our guest will be Alan Langston from AZREIA (Arizona Real Estate Investor Association). This is a free event for WeMAR members, but we ask you to register so we have seats and lunch for everyone.