Day at the Capitol a Capital Success
Momentum continues to build among state lawmakers for a greater understanding of the value that Minnesota’s commercial real estate industry brings to the state.
Momentum continues to build among state lawmakers toward a greater understanding of the value that Minnesota’s commercial real estate industry brings to the state. It’s a constant effort to ensure that policymakers understand how the commercial real estate sector operates and how it benefits the state’s economy. It is safe to say positive change is continuing. During the Minnesota Commercial Real Estate (MnCRE) Day at the Capitol, key policymakers acknowledged the important role commercial real estate has within Minnesota’s economy and announced the formation of the Minnesota Commercial Real Estate Legislative Caucus.
“We don’t hear enough from our industry. People here don’t completely understand real estate issues, so it’s great to have you all here,” said Rep. Roz Peterson (R-Lakeville) who explained the purposes behind the caucus during the MnCRE activities held on April 4.
Sen. Ann Rest (DFL-New Hope) worked with Rep. Peterson to develop the MnCRE Caucus and has been recognized by NAIOP Minnesota in the past for her work on behalf of the commercial real estate industry.
The MnCRE Caucus will provide state lawmakers with a platform from which to learn more about the industry and more clearly discuss policy issues of importance to commercial real estate professionals. The key to long-term success within the caucus will be the extent to which lawmakers and MnCRE professionals can engage in a thoughtful exchange of information and ideas.
Rep. Kelly Fenton (R-Woodbury) applauded Rep. Peterson for her efforts to initiate the caucus and expressed the importance of hearing about business needs that at times go unnoticed or may not be fully understood by lawmakers. She urged commercial real estate professionals to engage with policymakers and play a critical role in working with the new caucus.
During DAC activities, several legislators met with the approximately 50 commercial real estate professionals in attendance, including Speaker of the House Kurt Daudt (R-Crown) and Rep. Steve Drazkowski (R-Mazeppa). Rep. Drazkowski, who has supported MnCRE positions concerning property taxes, expressed relief that the House passed legislation to repeal the automatic property tax inflator that commercial property owners have opposed for several years. He also voiced pleasure about a new exemption in state property taxes for the first $200,000 of assessed property value.
NAIOP Minnesota will continue to support the MnCRE Caucus and will continue to urge legislators to join and learn more about commercial real estate issues.
Entry filed under: Public Policy | Government Affairs.