On Wednesday, November 14, Michael Best hosted members of NAIOP Wisconsin for a discussion of the impact of the 2018 midterm elections on the commercial real estate industry. The event featured Andrew Hitt, Evan Zeppos, and Mickey Foti of the bipartisan team at Michael Best Strategies LLC, and Tom Larson, chief lobbyist for NAIOP Wisconsin.
With the combined knowledge in the room, the conversation ranged from an understanding of the current laws on Administrative rulemaking power and proper interpretation of legislative intent, to the gubernatorial power of appointment and dismissal, and the role of the legislative Joint Committee for Review of Administrative Rules (JCRAR). While the process of selection of Administrative Secretaries to head such vital departments as the Department of Transportation and the Department of Natural Resources will need to unfold in the coming weeks, there is a hope that many of the advances made in the last few years to impose rational, clear guidelines for real estate development will remain, because new real estate development provides one of the clearest opportunities for municipalities to collect new taxes to pay for their growing budgets, provides income to school districts, and jobs for communities.
The Real Estate practice group at Michael Best, along with the Wisconsin Chapter of NAIOP, sponsored a set of four “CRE Executive Forums” over the course of 2018, gathering a small group of real estate executives with Michael Best attorneys, representatives of Michael Best Strategies, and other outside experts to have an interactive discussion on important topics.
Michael Best will again sponsor a series of four CRE Executive Forums with NAIOP in 2019, including one that will take place in Madison. The first of the 2019 series, tentatively scheduled for March, will feature Nancy Haggerty from our Real Estate practice group, Hamang Patel from our Tax practice group, and Anne Canfield from Michael Best Strategies, who will speak with attendees about Opportunity Zones and practical strategies for using these tax benefits, especially combining Opportunity Zones with Tax Incremental Financing, New Markets Tax Credits, and Low Income Housing Tax Credits.