Early in February, NAIOP Charlotte leaders attended the Chapter Leadership and Legislative Retreat (CL&LR) in Washington, D.C. One of the event's highlights is the meetings with our senators and representatives to educate elected officials on the issues important to the commercial real estate industry. The annual CL&LR is an important event and is the kickoff to what is sure to be a consequential year for commercial real estate in terms of federal legislation. Thank you to everyone who attended and impacted commercial real estate in our region.

See Retreat Photos

On February 12, 2025, NAIOP Charlotte hosted a Local Advocacy 101 program to help members become advocates for commercial real estate. Advocacy allows you to clarify your perspectives, use your voice about something important to our industry, and help affect change. Learn more about our local elected officials and how to connect effectively and share perspectives on commercial real estate. Take the next step and get involved.

A special thank you to our speakers: Councilman Ed Driggs, Assistant City Manager Alyson Craig, REBIC Executive Director Rob Nanfelt, and REBIC General Counsel Larry Shaheen.

1. NC Senate President Pro Tem Phil Berger and House Speaker Destin Hall Visit REBIC
   On Monday, February 24th, North Carolina Senate President Pro Tem Phil Berger and House Speaker Destin Hall visited Charlotte to brief REBIC members on the current legislative session and discuss various issues. Also present were Senators Dave Craven and Brad Overcash, along with Charlotte City Councilman and Transportation, Planning, & Development Committee Chair Ed Driggs.
   
   The top-of-mind issue for most in the room was the introduction of S.B. 145, the Mecklenburg Transportation Referendum. The passage of this legislation would be the first step in achieving our goal to develop and implement a regional transportation plan. The bill’s introduction marks a significant milestone following more than five years of coordinated efforts on both local and state levels. In addition to REBIC, the Partnership for Regional Cooperation and the Charlotte Regional Business Alliance have been at the forefront of this initiative. We highly encourage others in the business community to support us as we seek passage of this important bill.
   
   Should it make its way through the legislative process, it will then be up to the Mecklenburg County Commission to place the issue on the November ballot. At that point, taxpayers will be asked to allow for a one-cent sales tax increase to fund future transportation projects. The establishment of an authority to manage those funds will be incorporated at a later time.
   
   Other topics discussed included the following:
• Disaster relief for Western North Carolina - The State of North Carolina has more than $5 billion in its rainy-day fund, but the needs, when all is said and done, will likely exceed $60 billion.
• Crime- Legislators are working with local police departments and others as they consider legislation aimed at preventing pretrial release for some violent offenders.
• Budget - The Senate will initiate the budget during this cycle and the changes the legislature has made in tax policy over the past decade have made a big difference in our ability to attract new businesses and grow the economy.
• Higher Education - Legislators discussed the importance of higher education and acknowledged the elevation of UNC Charlotte to a premier national research institution.
2. Congressman Tim Moore Provides a DC Update to REBIC Members
   Tim Moore, former North Carolina House Speaker and now US Congressman from the 14th District, visited us to discuss his latest efforts. First, he shared his work to ensure that appropriate federal resources are directed toward Western North Carolina storm victims as effectively and efficiently as possible. Next, he discussed his work on the Finance Services Committee and the Budget Committee as Congress gears up to preserve the tax relief measures put in place several years ago. He also shared information on the cost-cutting measures implemented at the federal level.
   
   Immediately following this event, we were lucky enough to escort him to the podcast booth, where he recorded an episode of “Getting Real with Rob.” We will announce the release date soon!

The Real Estate and Building Industry Coalition (REBIC) wishes to applaud the efforts today of Senators Bill Rabon, David Craven, and Vickie Sawyer for filing Senate Bill 145, Mecklenburg Transportation Referendum. This legislation, which REBIC strongly supports in conjunction with our partners in the business community and throughout Mecklenburg County, is an important financing tool that will enable our community to address the transportation infrastructure challenges arising from the 100 people a day moving here as we continue to be one of the most attractive regions in the nation in which to live and do business.

Leadership within our county, city, and towns continue to face budget shortfalls when trying to keep up with rapidly expanding transportation needs. The real estate industry recognizes this and knows that the solutions provided in S.B. 145 will enable continued growth and prosperity by providing an opportunity for local decision-makers to invest in transportation solutions. Without solving our infrastructure challenges, our region will continue to be constrained in our ability to provide people with mobility choices, and provide for the movement of goods and services in the most efficient and cost-effective manner possible. This investment will literally pave the way to continued opportunity and growth with direct funding for more road infrastructure and a comprehensive mobility solution for all of Mecklenburg County.

[In early February] NAIOP members from the U.S. and Canada attended NAIOP’s Chapter Leadership and Legislative Retreat (CL&LR) in Washington, D.C., with U.S. members scheduling meetings with their senators and representatives to educate elected officials on the issues important to the commercial real estate industry. Our annual CL&LR is an important event and is the kickoff to what is certain to be a consequential year for commercial real estate in terms of federal legislation. Just as important as the substance of the issues that will be at the center of the discussion during NAIOP’s Capitol Hill meetings are the relationships that exist and are fostered between elected representatives and their local NAIOP constituencies. The message coming from NAIOP members who are also constituents tends to leave a lasting impression on elected officials and their staff.

Originally published on January 15, 2025, by Toby Burke for NAIOP.

State lawmakers have started to return to their respective state capitols to begin the lawmaking process following the 2024 election. While the election resulted in a few political control shifts in some chambers between Republicans and Democrats, the “status quo” was essentially maintained according to the National Conference of State Legislatures. This would imply a more predictable and business-as-usual session within state capitols on the issues with one exception: the return of President-elect Trump to Washington, D.C.

Originally published on November 20, 2024 by Toby Burke for NAIOP.

The 2024 U.S. election has ended with President-elect Donald Trump returning to the White House and Republicans securing majorities in both legislative chambers on Capitol Hill. The national media may be focused on the consequences for the balance of power in Washington, D.C., but it’s important to look at the down-ballot races for state and local offices and ballot initiatives that impact the commercial real estate industry.

Originally published on November 6,2024 by Eric Schmutz for NAIOP.

Donald Trump’s victory in Tuesday’s presidential election makes him the first candidate in over a century to reclaim the White House after losing a re-election bid, and we expect his second term to have a significant impact on federal tax policy. 

Originally published on October 1, 2024, by the IRS.

The Internal Revenue Service announced today tax relief for individuals and businesses in the entire state of North Carolina that were affected by Hurricane Helene that began on Sept. 25, 2024. These taxpayers now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments.

Originally published on September 26, 2024, by Morris Davis, Ph.D. for NAIOP.

Citing progress on inflation and the balance of risks, last week the Federal Reserve announced rate cuts of 0.5%, to 4.75% to 5%. Can we expect additional cuts from the Federal Reserve and when, and how would these cuts impact commercial real estate markets?

Originally published on October 16, 2024 by Toby Burke for NAIOP.

U.S. citizens will go to the polls on Nov. 5 to cast their votes in the 2024 election at each level of government. The outcome of this election may have an impact on the policies affecting commercial real estate, the economy, communities and families. At the state level, 44 states will hold elections for representatives within their state legislature. The significance of the outcomes of these state elections cannot be overlooked in setting policy for the commercial real estate industry.

Originally published on September 18, 2024, by Aquiles Suarez for NAIOP.

On Sept. 10, in a speech given at the Brookings Institution of Washington, D.C., the Federal Reserve’s Vice Chair for Supervision Michael Barr announced that the central bank would be revising and re-proposing its bank-capital rules proposal commonly referred to as their Basel III Endgame Regulation. The regulation, first proposed in 2023, would have mandated a dramatic hike in the capital requirements on major banks and garnered intense criticism from the private sector, including from NAIOP and its real estate allies, who raised concerns about the negative impact the new regulations would have on the availability of credit for commercial real estate. In a clear victory for NAIOP and real estate, Barr made clear in his speech that the Federal Reserve (Fed) would be scaling back the regulation.

Originally published on August 13, 2024 by Brielle Scott for NAIOP.

From John Oliver to CNN to the Wall Street Journal, everyone seems to be talking about PFAS. PFAS (per- and polyfluoroalkyl substances) are a family of manmade chemicals that have been used in manufacturing everything from apparel to cosmetics to food packaging.

Laura Boorman Truesdale
Mary Katherine H. Stukes
Moore & Van Allen

Originally published on July 17, 2024 by Aquiles Suarez for NAIOP.

Just prior to leaving for this week’s congressional recess, and before the tragic events of this weekend which unfortunately served to highlight our current political polarization, Republicans and Democrats in Congress worked together to introduce bipartisan legislation furthering one of NAIOP’s top legislative priorities. The Revitalizing Downtowns and Main Streets Act (H.R. 9002) was introduced last Thursday with 12 original cosponsors: six Republicans and six Democrats, all members of the tax-writing House Ways and Means Committee.

Originally published on July 10, 2024, by Aquiles Suarez for NAIOP.

The Supreme Court has certainly garnered its share of attention for several of its rulings this last term, but none is likely to have more of an impact on business, including commercial real estate, than its opinion in Loper Bright Enterprises v. Raimondo, issued on June 28. In that case, the Court overturned a 40-year legal standard it had first established in 1984 in Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc., which stated that courts would defer to federal agency determinations on policy matters if the relevant statutory language was ambiguous.

A bill that NAIOP and its members spearheaded was introduced today in the U.S. House of Representatives. The “Revitalizing Downtowns and Main Streets Act” establishes a new 20% tax credit to convert many underutilized or vacant commercial properties to residential use.

The bipartisan bill is sponsored by U.S. Representatives Mike Carey (R-OH) and Jimmy Gomez (D-CA).

Originally published on June 19, 2024, by Toby Burke for NAIOP.

Members from the three NAIOP chapters in North Carolina traveled to Raleigh last week for their legislative advocacy day within the state capitol. The two-day event provided an important opportunity for attendees to collaborate on the issues facing commercial real estate and advance the industry’s interests with state lawmakers.