Land

Governor McDonnell, Lieutenant Governor Bolling, Attorney General Cuccinelli, and House and Senate Republican Leadership announce joint agenda for 2011 legislative session.

From Governor's press release:

Attorney General Ken Cuccinelli discussed individual property rights and their importance to the people of Virginia, stating, “There are legitimate reasons the government utilizes its power of eminent domain – for the construction of roads, schools, jails and utility easements,” Cuccinelli said. “However, we have to stand up for families and businesses to prevent government from using this extraordinary power when there is not a legitimate public need. A shopping mall or tourism information center is not a core public need.”

On February 9 we need you to tell your legislator...

... to stop re-taxing people -- no more recordation taxes on refis!

... not to hold you responsible if public records are wrong!

... that toxic drywall needs to be disclosed!

...to pass agency laws that protect you and your clients!

It's our best chance all year to get our message across -- and we need bodies to do it. We want to crowd their offices with Realtors^® so it's crystal clear: We care about property rights, the economy, and our industry.

Tax officials in the DC area are trying new, and maybe extraordinary, efforts to collect tens of millions of dollars in delinquent payments. These efforts are hoping to help combat the huge projected budget deficits that threaten to slash public services.

Together, DC area localities are owed more than $40 million in overdue real estate taxes from fiscal 2010. In Arlington, real estate tax delinquency has nearly tripled since 2003.

Though collecting cars and the other measures may seem extreme, they ultimately may seem minor compared to the cuts to public service that may happen.

Read more at the Washington Examiner.

As sour as the economy has been lately, a panel of executives from four of the region's largest REITs were downright bullish about the outlook for commercial investment in Richmond and other second tier cities. 

On October 26, the Federal Reserve Bank of Richmond will host a one day forum on community land trusts. Targeted to affordable housing practitioners, financial institutions, foundations, and local and state policymakers, this forum will provide an overview of how shared equity models, and community land trusts in particular, can preserve long-term affordable homeownership and stabilize neighborhoods impacted by foreclosure.

To register, visit the Virginia Housing Development Authority. The deadline to register is October 18.

Virginia's economy stands to take a heavy blow if Secretary of Defense Robert Gates's proposal to cut the Pentagon's budget goes ahead as planned.  And there's little recourse for the Commonwealth's political leaders who are obviously concerned about the proposed cuts: Congress doesn't need to approve them.  Here's what's at stake in the Commonwealth.

VDOT is hoping to coax private developers to bid on the chance to build and operate a new multibillion-dollar U.S.  Route 460 as a toll road. To drum up interest, the state is offering cash and other incentives.

Without an offer of public funds, the project has gone nowhere. Officials hope the promise of a public partnership will stimulate interest.

The new U.S. 460 will be a  55-mile, four-lane, divided highway between Suffolk and Petersburg. 

Read more from The Virginian-Pilot....

An audio recording of today's press conference (right-click to download 7 MB mp3 file) with commentary from some of the state's leading brokers about VAR's second quarter home sales report is now available for download. The brokers in the call are:

Town officials in Herndon are preparing residents and business owners for the new  Herndon-Monroe Metro station, which is slated to open in 2016. Plans are afoot to make the area surrounding the coming station more appealing to passengers. Officials would like to see the area transformed into an attractive, walkable urban community.

Homeowners should take advantage of opportunities to be heard during this planning process. If well executed, careful development could make the area surrounding the Metro station pleasant and inviting. Prices of nearby homes could be positively affected.

Read more in The Washington Post....

Virginia Beach and several conservation groups will purchase 122 acres of land off Shore Drive. The land had been marked for a housing development, but will now be preserved in its natural state. It is the last major tract of undeveloped land along the Lynnhaven River. 

Read more in The Virginian-Pilot....