How's everyone doing amongst the Coronavirus shut down? (Prospect Park, Prospect: house, neighborhoods)

[kyb01]

Originally Posted by FindingZen

Welcome (back)!

Well, they will just create another account. Really pathetic.

[cpomp]

I wasn't sure whether to post in Phila2035 or here, but seems more related to this topic.

There is a discussion on a Philadelphia development FB group about the recently revised tax abatement. Many people (including myself) think the reduction was a mistake and now a new repercussion (the virus) could really hinder development.

Permits awarded by end of year 2020 will fall under the former 10 -ear abatement. Anything after is under the revised plan.

In light of the unfolding situation, does anyone think its fair to extend the 10 year abatement another year since many projects and developers are inevitably stalled due to the pandemic. The plan would be for the mayor to issue an amendment for a 1-year extension of the former abatement.

Does anyone think that is fair?
Do people think it will gain traction?
Who might propose that amendment?

[MarketStEl]

Originally Posted by cpomp

I wasn't sure whether to post in Phila2035 or here, but seems more related to this topic.

There is a discussion on a Philadelphia development FB group about the recently revised tax abatement. Many people (including myself) think the reduction was a mistake and now a new repercussion (the virus) could really hinder development.

Permits awarded by end of year 2020 will fall under the former 10 -ear abatement. Anything after is under the revised plan.

In light of the unfolding situation, does anyone think its fair to extend the 10 year abatement another year since many projects and developers are inevitably stalled due to the pandemic. The plan would be for the mayor to issue an amendment for a 1-year extension of the former abatement.

Does anyone think that is fair?
Do people think it will gain traction?
Who might propose that amendment?

As I was opposed to altering the original abatement, I'd be fine with that, but the new Council members got elected by criticizing the abatement as a big break for the rich, and I don't think that any education campaign to explain who really benefits (the builder, which means construction jobs) would succeed at persuading the electorate.

Ergo, I see it gaining little traction - unless this situation lasts long enough to severely damage the economy, which I think it might - even will.

The person who I think would be most amenable to introducing such an amendment is the one Realtor on the current Council, Allan Domb (D-at large) - who, in his previous position as head of GPAR (the Greater Philadelphia Association of Realtors), proposed offering a 20-year tax abatement to new construction homes valued at $250k or less.

[1ondoner]

Didn't Governor Wolf classify RE sales and associated activities as non-essential services and should be stopped.

My fear is that most people are optimistic about this epidemic which tells me that it's going to be far worse than we think.

Originally Posted by MarketStEl

"I don't think it's going to hurt the market as much as put it in a coma for a little bit." --Drexel's Kevin Gillen

Has Coronavirus Changed the Real Estate Market? | Philadelphia Magazine

[MarketStEl]

Originally Posted by 1ondoner

Didn't Governor Wolf classify RE sales and associated activities as non-essential services and should be stopped.

My fear is that most people are optimistic about this epidemic which tells me that it's going to be far worse than we think.

You're probably right on that last sentence, but:

He hasn't prohibited virtual work. Offices must stay closed, but agents can arrange private showings and virtual open houses without having to go into the office. I even spoke with one agent/rehabber who is closing sales entirely online. The city's Recorder of Deeds office remains open, which is why this can happen.

So much of the real estate sales process now takes place online that this may simply accelerate the shift.

[1ondoner]

This is not allowed. People should not be going into homes for viewings. Which tells me there is still a lot of complacency even among professionals hence my statement on it may get much worse than we think

Originally Posted by MarketStEl

You're probably right on that last sentence, but:

He hasn't prohibited virtual work. Offices must stay closed, but agents can arrange private showings and virtual open houses without having to go into the office. I even spoke with one agent/rehabber who is closing sales entirely online. The city's Recorder of Deeds office remains open, which is why this can happen.

So much of the real estate sales process now takes place online that this may simply accelerate the shift.

[cpomp]

Originally Posted by MarketStEl

As I was opposed to altering the original abatement, I'd be fine with that, but the new Council members got elected by criticizing the abatement as a big break for the rich, and I don't think that any education campaign to explain who really benefits (the builder, which means construction jobs) would succeed at persuading the electorate.

Ergo, I see it gaining little traction - unless this situation lasts long enough to severely damage the economy, which I think it might - even will.

The person who I think would be most amenable to introducing such an amendment is the one Realtor on the current Council, Allan Domb (D-at large) - who, in his previous position as head of GPAR (the Greater Philadelphia Association of Realtors), proposed offering a 20-year tax abatement to new construction homes valued at $250k or less.

I had a conversation with Mr. Brooks on FB and he mentioned that developer Ori Fiebush sees momentum for an amendment gaining traction after the initial focus of shutting down construction is over. And as you mentioned, the biggest issue is most of council isn't so friendly (or educated) toward the abatement.

If some council members, the mayor, and industry and building trades push for it, then the chance is there. But this is all a day by day situation. But when you look at the bigger picture, does extending the full abatement for 1 more year really hurt the "progressive" council members agendas? I think after this they have bigger issues to tend to, might as well let construction handle itself by extending the full abatement through 2021.

[Pennsport]

Originally Posted by cpomp

I had a conversation with Mr. Brooks on FB and he mentioned that developer Ori Fiebush sees momentum for an amendment gaining traction after the initial focus of shutting down construction is over. And as you mentioned, the biggest issue is most of council isn't so friendly (or educated) toward the abatement.

If some council members, the mayor, and industry and building trades push for it, then the chance is there. But this is all a day by day situation. But when you look at the bigger picture, does extending the full abatement for 1 more year really hurt the "progressive" council members agendas? I think after this they have bigger issues to tend to, might as well let construction handle itself by extending the full abatement through 2021.

Yeah, but the council isn't thinking about doing what is best for their constituents or the city in general. They are in office simply to milk the system and achieve individual gain. They are literally one of the more corrupt groups of public officers that I've ever seen or even heard about.

[selhars]

I have a family member dealing with something that is just a reminder that even as we all deal with the coronavirus....the OTHER issues people have had haven't gone away and still need to be dealt with.

In one relative's case it's respite care for 24-hour care-givers for loved ones with Alzheimer's.

My brother was all set to get his father in law signed up and on the list for a Medicaid nursing home slot...and now they can't go visit nursing homes to get the dad into one.

The elderly dad has Alzheimer's, won't sleep, is damaging the house (not actively, but by default, by spilling coffee, hiding food all over the house, not using the bathroom properly, putting things down drains, etc).

My brother is the 24 hour care giver, and is beyond exhausted -- and aggravated. At this point they'd just appreciate some respite care.

They have been working with PCA. And while that's been helpful......the paperwork, the evaluations, the "hurry up-and-wait, then wheels turn slowly" aspect to the entire process has really by quite frustrating.

They don't know when they'll be able to get the dad into a longterm care facility now.

My heart just goes out to him -- and others in this position.....

[kyb01]

Originally Posted by selhars

I have a family member dealing with something that is just a reminder that even as we all deal with the coronavirus....the OTHER issues people have had haven't gone away and still need to be dealt with.

In one relative's case it's respite care for 24-hour care-givers for loved ones with Alzheimer's.

My brother was all set to get his father in law signed up and on the list for a Medicaid nursing home slot...and now they can't go visit nursing homes to get the dad into one.

The elderly dad has Alzheimer's, won't sleep, is damaging the house (not actively, but by default, by spilling coffee, hiding food all over the house, not using the bathroom properly, putting things down drains, etc).

My brother is the 24 hour care giver, and is beyond exhausted -- and aggravated. At this point they'd just appreciate some respite care.

They have been working with PCA. And while that's been helpful......the paperwork, the evaluations, the "hurry up-and-wait, then wheels turn slowly" aspect to the entire process has really by quite frustrating.

They don't know when they'll be able to get the dad into a longterm care facility now.

My heart just goes out to him -- and others in this position.....

As someone who did go through this process it's exhausting even under normal circumstances. So I absolutely understand the mental and physical trauma involved. We didn't use the PCA we hired a elder law attorney to handle all of the particulars. But, of course, that route is expensive.