Congratulations to Denver Financial Center and Granite Tower - Denver's newest 360 Performance Program designees.
BOMA International's The Green
Denver BOMA Green Resources
State of Colorado New Conveyance Regulations
		H1N1 in Colorado–  Let BOMA Help You Prepare
		Join BOMA on Linkedin
2010 Pinnacle Sponsor
Media Sponsor

Home Advocacy

BOMA Advocacy

BOMA Approves New Policy Position on Capital Credit Crisis

The 111th Congress is getting off to a quick start and one of their first priorities is to enact policy to restore balance and confidence in our economy. The commercial real estate industry is threatened by a lack of credit capacity—there is simply not enough capacity in the current credit environment to refinance the massive amount of commercial real estate debt that is maturing in 2009 and in subsequent years. This year alone approximately $400 billion of secured and unsecured debt will mature.

So that BOMA International may actively advocate for policies to ease the capital credit crisis and respond nimbly to proposals as they arise, the Government Affairs Committee approved a new policy position, which the Board of Governors unanimously approved at the recent Winter Business Meeting.

Position: BOMA International recognizes that our nation faces an unprecedented lack of liquidity throughout virtually every sector of the economy. Policymakers must enact additional measures to energize credit markets and restore bank lending capacity.

The Real Estate Roundtable, our biggest partner on financial issues, has drafted a 5-point plan to restore credit capacity for Congress to consider. BOMA International will continue to partner with the Real Estate Roundtable and others to ensure that Congress works to address our concerns.

1. Expand the Term Asset-Backed Securities Loan Facility (TALF)
2. Encourage debt modifications.
3. Encourage foreign capital investment in U.S. real estate
4. Modify accounting rules
5. Reject new anti-real estate investment taxes

Local Achievements

• Denver Metro BOMA is represented on the state Elevator Advisory Board that is working on the regulations that will implement the new state elevator inspection program created by the law which was passed in 2007. Denver has recently decided to discontinue its elevator inspection oversight program and phase in state oversight in 2009, with full state oversight commencing January 2010. Click  here for copies of the Denver and state transition notices.

•  Represented owners on the Denver Building Code Revision Committee subcommittees and participated in the development of the new Denver Code Revision as well as providing input on code issues to other jurisdictions;

• Clarified that the Metro Wastewater Reclamation District (MWRD) policy concerning discharge of molybdenum from building cooling systems into the drain system does not mean that moly must be removed from an existing closed-loop system, or that a small leak from such a system would really result in huge fines;

• Intervention in the 2005 Xcel electric rate case to represent ownership interests before the Colorado PUC for the fair allocation of rates, saving owners approximately 2.3 cents per square foot. Also intervened in the 2006 steam rate case which resulted in an agreement to retain the existing two-part rate structure, rather than adding the capacity component proposed by Xcel;

• Saved owners $1.00/SF savings in capital expenses for the repeal of the Denver mandate to run hard-pipe risers for diesel fuel transfer in buildings;

• $0.015/sf savings in operating expenses for elevator and other City of Denver inspection fees;

• Through lobbying and testimony, continuing to fight onerous legislation that would impact the right to contract for services in buildings;

• Ongoing advocacy activity including meeting individually with many key legislative leaders to discuss BOMA issues for Colorado BOMA, the state coalition of Denver and Colorado Springs BOMAs;

• Colorado BOMA PAC made campaign contributions to 20 state legislative candidates in 2008 election and is already soliciting contributions for the 2010 election cycle;

• Joined with the Denver Police Department in the first Denver Public/Private Initiative program, DP3, to coordinate disaster preparedness, cross training, and crime prevention activities.

• Ongoing meetings with the Colorado Homeland Security officials, to discuss preparedness and training for BOMA members on infrastructure protection.

BOMA International Achievements

Showing YOU the Money – the Bottom Line Benefits of Your BOMA Membership

BOMA International’s advocacy and codes teams helped secure key legislative victories in 2008 that will help save the commercial real estate industry billons. While it’s not always easy to put a dollar figure on the broad value of your BOMA membership, we can quantify the money saved on recent advocacy success: