AI Joins Industry Opposition to PACE Loan Changes

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As we near the end of summer, I hope your business has been good, but that you have had some time for some fun. I also want to express my concerns on behalf of AI for those who have been affected by weather, wildfire or other issues.

I’m proud to report that the Appraisal Institute has further expanded its role as the real estate valuation profession’s thought leader through the release of a new Guide Note.

AI Board of Directors Adopts New Guide Note

The Appraisal Institute Board of Directors, at its July 28-29 meeting in Charlotte, North Carolina, adopted the Guide Note “Assumptions and Hypothetical Conditions.” A draft of the Guide Note previously had been shared with AI professionals for comment.

The Board also approved the lone 45-Day Notice item, which permits Practicing Affiliates to serve on certain chapter committees when eligible.

Read about other action the Board took at its meeting.

AI Joins Industry Opposition to PACE Loan Changes

Citing “a host of serious consumer protection concerns,” the Appraisal Institute joined 10 trade associations August 16 to oppose recent changes to the federal government’s Property Assessed Clean Energy loans, known as PACE loans.

The Appraisal Institute and the other groups expressed concern over recent actions taken by the Department of Housing and Urban Development on behalf of the Federal Housing Administration, as well as by the Department of Veterans Affairs. PACE loans allow local governments to provide financing for energy efficiency, renewable energy and water efficiency projects that building owners pay back through property tax assessments, according to the National Conference of State Legislatures website.

Learn more about the AI’s opposition and read the joint letter.

AI Education Trust Honors 4 National Award Winners

Bradley R. Carter, MAI, of Atlanta, received the George L. Schmutz Award; Stephen D. Roach, MAI, SRA, AI-GRS, of San Diego, received the James H. Pritchett Award; Charles G. Dannis, MAI, SRA, of Dallas, received the Dr. William N. Kinnard Jr. Academic Award; and Byron E. Miller, SRA, AI-RRS, of Minneapolis, Minnesota, received the Y.T. and Louise Lee Lum Award from the Appraisal Institute Education Trust during the Appraisal Institute Annual Conference July 27 in Charlotte, North Carolina.

Learn more about the AIET award recipients.

AI to Participate in Key Industry Events
In keeping with the Appraisal Institute’s commitment to convey its thought leadership to real estate professionals and others, President-Elect Jim Amorin, MAI, SRA, AI-GRS, will speak at the International Association of Assessing Officers Conference on Assessment Administration, August 28-31, in Tampa, Florida on intangibles. AI also will exhibit at this conference.

Additionally, I’ll be joined by Chief Executive Officer Fred Grubbe, MBA, CAE, for the International Valuation Standards Council Advisory Forum Working Group, August 29-30, which the Appraisal Institute will host at its Chicago office.

Other News Around AI

And here’s some additional important news from the Appraisal Institute:

  • From January to June, the Appraisal Institute and its professionals appeared in 676 stories that ran in 380 unique media outlets and were potentially read, seen or heard almost 925 million times … with a value of nearly $600,000 (according to vendor’s proprietary formula).
    • View a video of AI’s January-June 2016 media coverage highlights on the Appraisal Institute’s YouTube channel.