News Wrap
continued from page 16
the Senate and the Bush Administration
on the fine points of the bill.
The initial draft of the legislation,
passed in the House last September (see
News Wrap November 2007), called for a
15-year extension. It also broadened the
scope of coverage to include nuclear,
biological, chemical or radiological
attacks.
However, in mid-November the
Senate amended the bill with a vote to
decrease the term and study the fiscal feasibility of expanding the coverage. This
more conservative draft gained the support of the White House, which argued
that the program should be phased out in
favor of a private-market solution. In late
December, the revised legislation was
kicked back to the House, where it was
approved.
In the wake of the extension, commercial real estate organizations, such as the
Building Owners and Managers
Association International and the
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RealShare Highlights
NORTHERN VIRGINIA | Tysons Corner | 12.04.07
“QUOTABLE:
When the country
was last in recession
in 2002, Northern Virginia was not.”
HERB MANSINNE
JONES LANG LASALLE
SAN FRANCISCO | 12.05.07
Keynote speaker Alec Burger, head of North America
lending for GE Real Estate, says market fundamentals
are sound, though he remains “cautiously optimistic”
about local and national real estate prospects.
Richard Kelley, executive director of Real Estate
Media’s RealShare Conference Series, goes “Inside
the Real Estate Mind” of Luis Belmonte, principal of
Seven Hills Properties.
WESTCHESTER COUNTY | White Plains, NY | 12.05.07
“QUOTABLE:
I have innate
concerns about the
Westchester office
market. We are really
not seeing sub”stantial
rental growth.
FRANK KENNY
WILLETT COS.
