Marc Guerin, JD, MBA, CRCM, MRICS

A terrific interview with Rosenthal & Rosenthal, Inc.'s Peter Clement in this issue of New Jersey Business Magazine, discussing both the differences and the dynamic synergies between banks and non-bank lenders, and how collaboration can play a factor in financing today's businesses. #rosenthalinc #nonbanklender #bankfinancing #collaboration #synergy #exportfactoring #assetbasedlending #purchaseorderfinancing #factoring #highgrowth https://lnkd.in/eRzGxAxP

32

4 Comments

New Jersey--S2969, signed into law April 11, 2024, " will result in increased property tax levy authority for certain counties in any year in which county debt service obligations are less than the prior year. To the extent that a county increases its levy under this authority, this would result in the county receiving increased property tax revenues and, therefore, increased expenditures." Statement to Senate, No. 2969 (March 11, 2024). In summary, when a debt is retired, historically, the county then had to reduce its tax rate by that amount. Now, the county can retain the same rate as "[t]he bill would make those amounts and additional amounts available for other uses by raising the maximum permissible county tax levy ...." https://lnkd.in/gCgC2PWA

2

New Affordable Housing legislation in New Jersey is affecting communities across the state. Read about the changes below and how Neglia Group's Planning Division is working to assist municipalities each step of the way. #Planning #AffordableHousing #Engineering #GIS #NegliaGroup

20

Thank you to everyone who attended this week's Maine Bankers Association Bank Expo! This year, Deer Brook presented on the expo's "Comply" track, where we leveraged our experience in the industry to set the scene for the current banking compliance and regulation landscape; as well as what it'll take to stay compliant. Thanks to everyone who attended each of our four sessions! You can learn more about what Deer Brook does for financial institutions at our website in the comments below. ⬇️ #banking #regulatorycompliance #fintech

11

1 Comment

Despite some concerns, the advantages of J-51 are clear: providing financial relief for property owners and facilitating more affordable housing for New Yorkers. I urge the City Council and Mayor Adams to revive J-51 by June 30. #affordablehousing

4

🌟 New MassINC and P2 Advisors LLC Report 🌟 As an emerging CDFI, BII participated in this new report that shines a light on the vital role of community capital in Massachusetts. The Commonwealth boasts a thriving community finance sector dedicated to empowering underserved communities and fostering economic inclusivity. With nearly 100 community finance institutions statewide, including 31 federally certified CDFIs and 65 state-certified CDCs (with overlap), these organizations are pivotal in addressing financial gaps across small businesses, housing, and community facilities. Report: https://lnkd.in/eV9mqsbt 📊 Key Findings from the Report: • The sector primarily supports entrepreneurs and small businesses, crucially aiding those from historically underserved groups. • CDFIs face challenges with funding, limiting their reach. • Recent years have seen significant growth, with small business financing doubling from $17.6 million to over $38 million by 2023. 🚀 Strategic Recommendations for Growth: • Increase funding support through state grants, a dedicated CDFI fund and philanthropy. • Increase deployment of alternative financing like lines of credit, revenue-based financing and equity-like investments • Expand CDFI reach through marketing and partnerships with BSOs and banks. Massachusetts' CDFIs and CDCs have a profound opportunity to amplify their impact to help build community wealth. Capitalizing CDFIs is a sure way to empower more small businesses and drive equitable economic growth across the Commonwealth! #CommunityFinance #CommunityCapital #EconomicDevelopment #CDFIs #MassachusettsEconomy #InclusiveGrowth

24

3 Comments

June 2024 Has the chicken come home to roost in Albany? Over the past fifteen years, New York’s real estate landscape has been characterized by an increasing amount of regulation. This trend, advanced by progressive members of the NY State Legislature, has kept real estate owners in the crosshairs of policymakers. New rent laws in 2019 were a blow to residential property owners, costly building compliance regulations were a burden for office owners and a spike in crime took a toll on retail operators as well, which some blame on the 2019 bail reform. While these are but a few of the politically imposed impediments dragging on real estate value creation, it’s all happening with the backdrop of decreased office occupancy post-COVID and ballooning interest rates for real estate debt. All the above and more has contributed to a growing gap in City & State tax coffers respectively, leaving legislators scrambling for new sources of funding to address the deficit. Congestion pricing was one such initiative that was designed to alleviate traffic congestion in Manhattan while providing a much-needed financial boost to the Metropolitan Transportation Authority (MTA) for infrastructure upgrades. However, after extreme resistance and growing dissatisfaction among moderate and centrist factions, Governor Kathy Hochul, decided to halt the congestion pricing initiative at the last minute citing the current fragility of NY’s economic recovery. Some highlighted this could represent a pivot back to the center for New York politics. On the heels of a primary season that saw the displacement of Democratic congressional incumbent Jamaal Bowman, perhaps the November election will shed more light on the direction we are headed and the types of candidates we'll see in office? As in any market, political dynamics have significant implications for real estate. The dominance of the current legislature has driven policies many argue are unsustainable by disincentivizing property ownership and limiting the ability to create value. As the political landscape evolves, there is cautious optimism that a more balanced approach to governance might take root with more centrist and pragmatic leadership. This could involve a reassessment of the current policies and a potential rollback of some of the more restrictive measures that have been put in place. The hope is that with more sensible and pragmatic leaders, New York City will remain poised to defend its status as a thriving hub of growth, commerce and innovation.

10

Ben Stich, Divorce Mediator, LICSW, M.Ed has a great reputation and is an experienced and effective divorce mediator! If you’d like an introduction, just let me know!

6

4 Comments

It’s Tax Day! From savings, to paying off debt or splurging on a well-deserved treat, there are plenty of ways people put their refunds to good use. What will you do with yours? #carverbanknyc #bankingforrealimpact #communitybanking #communityfirst #bankingforgood #taxday #savewithcarver

3

🗽 Since 421-a expired in June 2022, New York City developers have been awaiting a replacement program. That time has come. The Fiscal Year 2025 New York State budget introduces two key programs: 1️. Affordable Neighborhoods for New Yorkers Program (ANNY), or 485-x. 2️. Affordable Housing from Commercial Conversions Program (AHCC). These initiatives are a crucial part of Albany’s plan to tackle NYC's housing crisis. ⤵️ #NYC #HousingCrisis

1

Woods Oviatt is pleased to sponsor Upstate Capital Association of New York's Annual Event: Rochester Midland: Decisions for Growth WHEN: May 14, 2024 | 5:00 PM – 8:00 PM WHERE: The Country Club of Rochester 2935 East Avenue, Rochester, NY 14610 Brad Calkins and Kathy Lindahl, 4th generation co-CEOs of Rochester Midland, will talk about finding alignment and executing a strategy for Rochester Midland’s growth. They will address: -Managing cap table complexity resulting from 4 generations & 135 years of operations -Pre-transaction planning, addressing aging ownership, and succession planning -Navigating industry and capital market changes, which prompted the decision to partner with private equity to grow -Establishing Rochester Midland as a platform company for growth by acquisition of other companies They will be joined by Christopher Rodi of Woods Oviatt, Rob White of KPMG and John Casey of J.P. Morgan. Who Will Be There? Business owners: local/regional people who own $10M+ revenue businesses and are thinking about strategic growth, succession, or ownership transitions.  Upstate Capital members: PE + M&A deal-making professionals and investors Click on the link for more details and to register: https://lnkd.in/eGxw8gbF

18

Discover how strategic banking partnerships drive small businesses to success in this Building Bridges discussion with Joe Cavalchire of First Bank NJ. #BuildingBridgesinBusiness #banking #smallbusiness #businessgrowth #bridgemarina

2

When it comes to buying versus renting, home payments aren't expected to return to near pre-pandemic levels until 2028, the study finds #philadelphia #housing #housingmarket #realestate #residentialrealestate

3