More Investors to Social Impact Funding for Housing. Welcome, new economy.

Who is putting together a social impact bond package for housing? Bank of America

What does the bond package include?

  • $2 billion of bonds to help fight inequality in Black and Hispanic communities
  • “aims to fight longstanding inequities in America’s minority communities, which the coronavirus pandemic has exacerbated.”
  • will also fund “entrepreneurship and venture capitalism that aims to boost minority-owned businesses and neighborhoods”

What are people saying about this?

“burden of responsibility to address racism, inequality, climate change and other critical issues is shifting, perhaps inexorably, from the federal government to corporations,” – John Streur, president and chief executive officer at Calvert Research and Management

Market Watch | Bank of America sells $2 billion of bonds to help fight inequality in Black and Hispanic communities

Water Buffer Bill as a Property Right Infringement

Where is an increased water buffer being considered? Frederick County Council , Maryland

What is a water buffer proposal? An increase to the existing 100-150 foot wide buffer setback requirement further into waterfront land during any land subdivision process.

What do opponents say?

  • it is immoral
  • “unnecessary restrictions can cause undue harm to landowners and farmers by infringing on property rights; reducing a landowner’s ability to use their own land; and can negatively impact property values. In this case, for no credible reason or compensation to owners.” The Farm Bureau
  • no practical effect to improve water quality

Frederick News Post | Help stop an immoral county law that infringes on property rights

COVID Local Ordinance TREND. Banning no fault evictions.

California passed AB3088 (2020 | CA) , the COVID-19 Tenant Relief Act of 2020, that protects residential tenants from eviction if they are unable to pay rent due between March 1, 2020 and January 31, 2021.

San Francisco is considering an ordinance to the this further by  barring landlords from executing a no-fault eviction until March 2021, regardless of how the tenant has been affected by the pandemic.

How many evictions in San Francisco are no fault? About 20%

San Francisco Chronicle | Proposed SF legislation would ban ‘no-fault’ evictions until March 2021

Land Use. Can Architectural Committees Overrule?

Texas Attorney General Opinion KP-0333 answers whether a city, the City of Horseshoebay specifically, whether a municipality may enact an ordinance that conditions receipt of a building permit?

Translating the legalese, can an Architectural Committee overrule other building code provisions?

Why does this matter in Texas? In 2019, the Legislature passed House Bill 2439 (2019 | TX), that prohibits cities from restricting the use or installation of building products or materials that are approved for use by a recent national model code.

So what can home-rule cities, like Horseshoe Bay, do? They can enforce other covenants, maybe, but if a covenant conflicts with the model building codes, they can’t allow an Architectural Committee overrule the building code.

COVID + Office Rentals

Open Office Floor Plans and COVID are not symbiotic. To counter that, meet ROOM.

ROOM, New York-based startup, is part fo the NEW Economy.

What is ROOM? It began selling private phone call booths to open offices, with clients including Uber, Google, and Salesforce. COVID pivot at Room led to it offering Office booths for privacy and air privacy.

The benefits: The ROOM pods are sound proof with quiet, separate ventilation systems

Business Insider via Apple News | Room startup selling modular office pods for coronavirus

Real Estate Investment Trust. REIT with a Purpose. Right?

A REIT launched in London, Home REIT, that has the purpose of supporting housing for the homeless.

How will this work? the REIT investments will fund leases of 20 to 30 years to registered charities, housing associations, and other regulated organizations that receive housing benefits or other support from the government to fund housing for homeless people.

Barrons | Profit With Purpose? How This REIT Aims To Combat Homelessness

New reinsurance legislative issue: Fires.

Where is a debate occurring about a reinsurance system for fire coverage? California

Why? Wild fires and coverages issues related to wild fires

What did industry propose? AB 2167 (2020 | CA)

How did the legislation fare? Consumers groups opposed the industry legislation saying it contravened the state constitution. The bill has been amended to be a study as wildfires continue to burn.

Daily Breeze Opinion | Legislature ignores fire insurance crisis

COVID Pivot. Hotel Properties to Office Locations.

Hotels in Austin, TX and other locations are adapting to COVID by offering socially distanced and sanitized spaces for those in need of office and meeting space.

Unlike traditional office leases, can be reserved on a per day basis.

Are there other perks as this market heats up? Yes, amenities such as the pool, gym, outdoor spaces and a rooftop terrace see mid-week discounts. Some offer $25 daily credit for dining and drinks.

Austin Statesman | To ride out pandemic, Austin hotels pivot to office space