July 21, 2005

NEW INFORMATION

• City of Coatesville Reacts to TIF Approval— The Coatesville Area School Board had approved plans to divert $11.2 million in future tax revenue to the city’s infrastructure improvements. Coatesville City Manager E. Jean Krack, acting as executive director of the redevelopment authority, linked the Tax Increment Financing (TIF) proposals to the city’s overall $700 million redevelopment and said that further delay would jeopardize its future. Without TIF, Coatesville developers Pulver, Carl Chetty and Ray Iacobucci did not think their projects could move forward. Under TIF, county and school taxes generated from specific property investments in the city’s economic zone are redirected back to the city to fund the major infrastructure improvement associated with redevelopment. The redevelopment authority takes out a bond against the added tax revenue that is expected to be generated from rising property values to pay for the infrastructure improvement associated with redevelopment.  After much deliberation, the board voted Monday to support a TIF financing package that involves using increased tax revenues based on the total of $237 million in property improvements to pay down an $11 million, 20-year bond. 

• Proposed W.C. Rental Ordinance Raises Ire — A draft version of the borough’s proposed Fair Rental Ordinance met with confusion and frustration by several West Chester landlords at a recent meeting of the borough’s Public Safety Committee. The ordinance affects rental licenses and would hold landlords accountable for ensuring that their renters maintain law and order in their units. Under the proposal, renters would be required to register with the borough department of Building, Housing, and Codes Enforcement. The stipulations included in the draft ordinance are similar to stipulations included in most standard leases. The ordinance goes further, however, to institute a point system. If a landlord accrues 10 or more points during the course of a year, his or her license could be suspended. Landlords expressed complaints that the ordinance appeared to create double penalties for some infractions, since both a fine and points would be accrued as the result of a single problem. Because of certain inconsistencies in wording and some additional legal questions, the committee decided the proposal wasn’t ready to go to council for a vote. Instead, the draft will be reviewed again, which would also allow landlords to submit specific questions and comments for review. (Source: The Daily Local News; 7/14/05)

• Happy Hour A Success— The Suburban West REALTORS Association and the REALTORS Legislative Alliance presented another successful happy hour last night at the America Bar & Grill in Chester Springs. More than 80 REALTORS and Affiliate members were in attendance to meet old and new friends, enjoy complimentary appetizers and discounted spirits, and to win one of more than 12 prizes that were donated graciously by our active Affiliate Members. (To see pictures of the event, click here) On behalf of the Association and the RLA, we would like to thank the contributing Affiliate Members: American Home Mortgage; Helpful Home Inspectors; Housemaster Inspection; Nicolas Building Inspection Services; and US Inspect. Stay tuned for more information on our next Happy Hour in September which will be located in the Malvern/Paoli/Wayne area.  

• Managing Risk in Real Estate— Pursuing your GRI Designation or want to complete your continuing education requirements early? Sign up today for Managing Risk in Real Estate. This course will help reduce your exposure to risk by providing you a better understanding of misrepresentation, antitrust, fair housing, ADA, environmental law, agency/buyer representation, and contracts/real estate forms. The two day course is Wednesday, August 10 and Thursday, August 11, 2005 8:30 a.m. – 5:00 p.m. both days. Tuition: $199.00 includes all course materials and in-house lunch both days. Approved 1 PA Broker credit. Approved 14 hours PA 04-06 Real Estate license renewal.

To register, click here. This course is one of the five required courses for the GRI Designation. For more information on the GRI criteria and other designation requirements click here. 

REMINDERS

• Delaware County Real Estate and Bar Practices Committee Thursday, July 28, 2005 — The committee will convene its popular breakfast meeting this month on Thursday, July 28th at the Little Inn, Media, PA. This month’s topic is “Uniform Construction Code and Implementation in Delaware County” Cost for this event is $13.00 payable at the door. The fee covers the cost of breakfast and room expenses and will be charged to all attendees. Breakfast is served at 8:15 a.m., the session will begin at 8:45 a.m. Advance Reservation is required. Call Vince Mancini, Esquire at 610-566-8064 to reserve your spot.  

• 3rd Annual 5K Run For Home Charity Fundraiser— Suburban West REALTORS ® Association strives to enhance the REALTOR image by promoting the activities of the association and the services of its members.  We want our communities to be aware of REALTORS and the roles we play in their lives.  By teaming up with other members of the association, we provide valuable support to those in community programs that promote homeownership.  This year the 5K Run For Home is scheduled for Saturday, August 13 at the Eagleview Corporate Center in Uwchlan.  All proceeds will go to support Habitat for Humanity of Chester County.  There are many ways that you, as a member, can be involved in this event: PARTICIPATE (for registration brochure CLICK HERE), VOLUNTEER, or become a SPONSOR (for sponsorship info CLICK HERE).  For additional information, please contact Mary Lim at 610-560-4800 or mlim@suburbanwestrealtors.com. 

Save The Date! Golf Outing and Monte Carlo Event On September 26– The Suburban West REALTORS Association will be presenting a Golf Outing and Monte Carlo Night at the Waynesborough Country Club in Paoli on Monday, September 26. This event will raise money for the American Cancer Society. Golf registration will begin at 10:30 a.m. and tee off is 12:30 p.m. Open Bar begins at 5:00 p.m. and Monte Carlo will commence at 7:00 p.m. Prizes, giveaways and fun will be readily available. For more detailed information on the event, please click here and for sponsorship information, please click here.

OTHER IMPORTANT NUMBERS:

• Suburban West REALTORS Association TECH HOTLINE:
  800-704-7240 (email: techhotline@att.net)
  (8:30 am to 8 pm, Monday to Friday)
  
• PAR Legal Hot Line: 800-727-5345
  (9 a.m. to 10 am & 1 pm to 3 pm, Monday to Friday)
  
• Suburban West REALTORS Association:
  http://www.suburbanwestrealtors.com
  
• SUPRA Support: 877-699-6787 (8 am to 10 pm, Everyday)