National News
As many members observed, the federal government was subject to a shutdown that went on for 3 days. Agencies and programs tied to real estate that was impacted included, but was not limited to:
- NFIP National Flood Insurance Program
- Federal Housing Administration
- Government Sponsored Enterprises
- Rural Housing Programs
- VA Loan Guaranty Program
- Internal Revenue Service
- Social Security Administration
On January 22nd, congressional leaders came to an agreement to reopen the federal government until February 8th.
National Association of REALTORS® President Elizabeth Mendenhall issued the following statement in response to the end of the federal government’s shutdown:
“We are pleased that members of Congress were able to come together to extend short-term funding for the federal government and end the shutdown, which thankfully, will have only a minimal impact on real estate transactions. However, following this shutdown we strongly urge Congress to speed passage of legislation to reauthorize and reform the National Flood Insurance Program for a longer term and end the uncertainty of the current stopgap approach.”
For a more in-depth view of how the shutdown affects your industry, click here.
Local News
Many residents were shocked to hear of Premier Health’s decision to close Good Samaritan Hospital in Northwest Dayton. What has largely been considered the neighborhood’s anchor employer with over 1,600 employees was central to CityWide Development’s Phoenix Project, aimed to reduce blighted housing and improve infrastructure in the surrounding neighborhood.
Although the city has said they remain committed to the planned projects already in motion for 2018, they were quiet about what will be done beyond the end of the year. Premier has stated that they are committed to seeing the razing and redevelopment through and vouched to not simply leave the site. They announced a partnership with CityWide Development Corp. and will also be utilizing Columbus firm NEXT to review redevelopment of the property.
Elsewhere in the Miami Valley, West Carrollton has asked for residents’ input in regard to reviewing their zoning codes to allow residential farming. Details of the community survey are expected to be released next month.
