Sax Macy Fromm's Renewable Energy Advisory Group was both a sponsor and presenter at New Jersey NAIOP's Solar and Renewable Energy seminar held on October 13, 2010. The keynote speaker for the event was Assemblyman Upendra Chivukula, Chairman of the Assembly Telecommunications and Utilities Committee. The assemblyman as one of the architects of New Jersey's Energy Master Plan provided a perspective on the legislative initiatives that impact energy policy and specifically renewable energy in New Jersey. Assemblyman Chivukula fielded question from the engaged audience.
The session continued with three panels presenting important issues in the involving area of renewable energy.
The first panel discussed choosing the right solar system, whether to purchase the solar system or enter into a power purchase agreement, expected return on investment and provided a case study from a developer’s perspective.
The next panel covered the business aspects of a renewable energy. George Livanos, Director of SMF's Renewable Energy Advisory Group was a member of this panel. They discussed the important Federal & New Jersey tax incentives including, Federal depreciation, Federal tax credits, solar renewable energy certificates (“SRECs”) and the various ways to structure a solar energy project. The all important topic of financing opportunities was covered as well.
The program concluded with a panel discussion regarding critical considerations, including net metering, roof and structural considerations including warranties and insurance.
New Jersey is one of the leading states in the renewable energy arena. The landscape has become very populated with a number of organizations offering solutions to a highly changing and complex area.
Sax Macy Fromm's Renewable Energy Advisory Group is available to assist businesses through the myriad of alternatives available through this ever changing landscape. Our group represents solar integrators, owner/developers, tenants and investors. To date our renewable advisory group has assisted businesses, not-for-profits, municipalities and investors in structuring, financing and securing the Federal and New Jersey incentives associated with their renewable energy projects.
There continues to be signs of optimism in the multifamily housing market as 2010 come to an end. Occupancy levels on a National level, although not at their highs show positive increases from 2009 levels. Effective rents for new leases are also starting to increase.Cap rates are strong for multifamily properties. Although we are not at record levels, there are reasons to see a bright spot in this sector of the economy.
The renewed enthusiasm was apparent in last evenings 17th Annual Garden State Awards & Recognition Dinner presented by the New Jersey Apartment Association in New Brunswick. In attendance were over 550 individuals from all aspects of the New Jersey Multifamily Industry. This industry provides housing to more than a third of all New Jersey's residents. The optimism in the room further demonstrated by an increase of 20% in the number of attendees from the prior year.
The evening's event started by the presentation to Lieutenant Governor Kim Guadagno of the President's Award for Leadership in Regulatory Reform. The Lieutenant Governor accepted the award and sated that although a lot of progress has been made there is more to do. She understood the concerns of the group over complicated regulation s that impact the industry's ability to provide housing to New Jersey. She promised help in the COAH (Council on Affordable Housing) rules and regulations.
The evening than moved onto the recognition of the best in the industry. 49 awards were presented to 212 finalist's .The awards recognized the best in the New Jersey multifamily industry. The best in homes, the best service and the best overall living experience. The excitement and team spirit in the room was apparent. The awards recognized individuals whom are truly committed to providing best in class service to their residents.
The awards also recognized the owner's commitment to maintaining and improving the properties through out the state of New Jersey.
The evening cumulated with the awarding of the coveted management company of the year awards. This recognition is awarded to to the firm who not only provides superior homes and services to its residents, but also a home to its employees.
About Sax Macy Fromm's Real Estate Industry Team:
Sax Macy Fromm’s Real Estate Industry Service Group provides clients with a wide range of industry expertise, personalized service from our team of highly-qualified professionals, With an innovative and results-oriented approach, SMF delivers cutting-edge services to homebuilders, developers, as well as operators of office, industrial, retail, and multi-family residential real estate, in the New York/New Jersey metropolitan area.