No tax credit? No problem! - Columbus Board of Realtors

Committee Report
ALL HANDS ON DECK!
Time to board the SS CORPAC!
By Anthony Masci, Karen Lambert
and Gretchen McKay, Co-Chairs
CORPAC Fundraising Committee
CORPAC Auction
Thursday May 27
Grange Insurance Audubon Center
505 W. Whittier Street
Columbus, OH 43215
Doors open at 5:30pm
Spring is upon us, and that means the
CORPAC Auction is right around the
corner! As chairs of your CORPAC fundraising
committee, we’d like to introduce
you to this year’s venue and take a moment
to remind you of the importance of
CORPAC.
This year, the CORPAC auction will be held
at the Grange Insurance Audubon Center,
located on the Whittier Peninsula just south
of downtown. The facility, which opened
its doors in August 2009, is situated within
the Scioto Audubon Metro Park along the
Scioto River with breathtaking views of our
downtown skyline. The Center is the focus
of a major urban reclamation and redevelopment
project.
The Audubon Center serves our community
as a hub for environmental education and
awareness and as a model for sustainable design
thereby promoting the economic, health
and aesthetic benefits of green building. It is
a green facility of 18,000 net useable square
feet built with recycled construction materials.
Heating and cooling are provided by alternative
energy sources. Every detail down
to the placement of windows was designed
to maximize the efficiency of the building.
The landscape and backdrop are sure to
provide for a enchanting night for all.
Enjoy the views of our city’s skyline and
the peninsula from the observation deck
and terrace, as well as from inside. The
surrounding gardens will feature a variety
of trees and plants in full bloom. Cozy
up by the indoor or outdoor fireplace and
indulge in the unique offerings of locally
grown and prepared organic cuisine. Most
importantly, there will be a wide range of
silent and live auction items ready for your
bid. Complimentary valet service will be
provided for those who don’t choose to
sail down the Scioto!
Get on Board by becoming a sponsor or
by donating auction items. Don’t forget
that you provide essential support to
CORPAC just by purchasing a ticket! If
you would like to Get on Board by attending
the aution and/or by donating an item.
Please contact us or CBR’s Kelly Lavelle
at (614) 475-4000. For more information
about the Audubon Center as well as the
auction itself, please visit ColumbusRealtors.com/corpac.
What does CORPAC do for me?
Here are a few issues that CORPAC monitors
and influences, which directly impact
not only your business, but also the personal
and business lives of those we serve:
Proposed Vacant Property Legislation
replaced
Last month, a damaging piece of proposed
legislation was pulled due to the efforts of
CBR members, staff, the BIA and the Columbus
Apartment Association – and others.
The proposed legislation inflicted overly
harsh obligations on all property vacant
for more than 30 days – which would have
included listings, properties being renovated
and rentals, if vacant for more than 30 days!
The legislation would have required the
property owner to:
• file with the city and pay $100 fee (even if
being marketed for sale or rent).
• have liability insurance.
• have a property management company
or person located within the city limits to
manage the property.
• board up the property
• post a sign on the property saying that it
was “vacant” – pretty much an invitation
for theft and vandalism.
Although this situation was averted, it is just
one more example of your membership dues
and CORPAC working to protect you and
the rights of property owners.
Still unsure why we need ALL HANDS ON
DECK TO SUPPORT CORPAC and our
industry? Then read on.
Tax credit for first time homebuyers and
repeat sellers: Fought for an adequate tax
credit for both first time homebuyers and
existing homeowners and extended the deadline
for the benefits.
Keeping banks out of real estate: Defeated
the movement for banks to have the ability
to provide real estate brokerage services.
This is a fight that will likely resurface.
Seventy-two hour cooling off period for
real property sales: “Let me sleep on it”
is a saying and should not pertain to a real
estate contract that has closed. Defeated
legislation would have allowed buyers a 72
hour cooling off period after closing.
Mortgage Interest Deduction: Chatter
arises again about eliminating or modifying
the mortgage interest deduction. CORPAC
dollars were used in the efforts to defeat the
elimination or modification of the Mortgage
Interest Deduction. CORPAC protects you.
Help protect CORPAC.
www.ColumbusRealtors.com • In Contract Magazine • May/June 2010 • 21