GENERAL INFORMATIONEconomic stimulus update from National Association of RealtorsThe Economic Stimulus Bill (The American Recovery and Reinvestment Act of 2009, H.R. 1.) has been reconciled by the House and Senate. The details of the legislation have not been finalized but we expect the legislation to include a number of important housing provisions, including the remedies for the housing crisis that NAR prescribed at the annual meeting in Orlando, Florida.
·Homebuyer Tax Credit – An $8000 tax credit that will be available for qualified purchase of a principal residence by a first time homebuyer between January 1, 2009 and September 1, 2009. The credit does not require repayment. Individuals who purchase in 2009 using financing assistance from state and local mortgage bonds will be permitted to use the credit, as well.
·FHA, Fannie and Freddie Loan Limits – Revised loan limits for FHA, Freddie Mac, and Fannie Mae. Specifics have not been released but reports indicate that the 2008 limits have been reinstated for 2009 except in those communities where the 2009 limits are higher. Additional increases in individual communities may also be available at the discretion of the HUD Secretary.
·Foreclosure Mitigation & Neighborhood Stabilization – Funding for states and local communities to be used for neighborhood stabilization activities for the redevelopment of abandoned and foreclosed homes are authorized.
These elements of the American Recovery and Reinvestment Act of 2009 are the pillars of the NAR Housing Stimulus Plan presented to the 111th Congress. As the leading advocate for homeowners and the real estate industry, the National Association of REALTORS will continue to address the issues facing Americans who are trying to purchase a new home, protect their current home or preserve investment opportunities in residential and commercial properties.
Route 422 Public MeetingsWith Route 422 the spine of one of the fastest-growing corridors in Southeastern Pennsylvania , land planners and traffic experts warn that without a drastic change in development and commuting habits, even rougher rides are ahead. Planners are soliciting suggestions on ways to smooth out one of the region's toughest commutes. On Feb. 17 and 18, the Delaware Valley Regional Planning Commission will hold open houses in Pottstown and Oaks to solicit input from businesses, municipal officials, community and professional organizations, and anyone else with an opinion on what it would take to help make Route 422 less of a stress producing, business-disrupting experience. Here are the event details for both meetings:
Tuesday, Feb. 17
6:30 to 9 p.m.
Oaks Elementary School Cafeteria
Oaks School Drive
Oaks, Pa. 19456
Snow date: Feb. 24
Wednesday, Feb. 18
6:30 to 9 p.m.
Montgomery County Community College
Pottstown Campus, Community Room
101 College Dr.
Pottstown, Pa. 19464
Snow date: Feb. 26
Rep. Sestak to hold “Tele Town Halls” about American Recovery and Reinvestment ActU.S. Rep. Joseph Sestak (D-7th) will hold a series of “Tele Town Halls” next week, in which constituents will be called and can ask about the American Recovery and Reinvestment Act.” The town halls will be conducted by region and will each last about two hours, from about 7-9 p.m. The town halls are tentatively scheduled as follows:
Montgomery County portion of the District, Feb. 15;
Chester County and northwestern Delaware County, Feb. 17; Southeastern Delaware County, Feb. 18.
A district-wide follow-up to questions not addressed during the town halls will be conducted Feb. 19.
BUCKS COUNTY Mixed-Use Development Approved by Warminster OfficialsWarminster supervisors unanimously approved a developer’s plans for a mixed-use project on the corner of County Line and Davisville Roads. The project, proposed by BranSher Properties six years ago, is slated to be completed within the next three years. The final plan includes 78 three-bedroom townhouses and a shopping center to include a CVS and PNC bank. As part of the agreement, the developer agreed to pay Warminster $450,000 in lieu of not replacing several trees.
Source: The Intelligencer; 2/13/09
Centennial Passes Preliminary BudgetThe Centennial school board passed a $93.38 million preliminary proposed budget for the 2009-2010 school year, including a tax hike for residents. For the homeowner with a property assessed at the district average of $26,400, the tax bill will increase by about $165 to $2,711. The final budget is set to be approved at the June 9 board meeting.
Source: The Intelligencer; 2/11/09
New Hope-Solebury Approves Preliminary Budget with 7.2 Percent Tax HikeResidents of the New Hope-Solebury school district can expect a 7.2percent property tax hike if the board approves the final $33.3 million budget. The owner of a home assessed at the district average would pay about $314 more in taxes if the tax increase goes through as planned.
Source: the Intelligencer; 2/12/09
Quakertown School District Eyes 5.8 Percent Property Tax IncreaseQuakertown school officials passed a preliminary budget of $86.9 million for the 2009-2010 school year by a narrow margin of 5-4. The budget calls for a 5.8 percent property tax increase that would raise the tax rate from 125.5 mills to 132.82 mills. For a home assessed at the district average of $28,000, that translates to a $211 increase for a total tax bill of $3,825. The school board will vote on the final budget on June 11.
Source: The Intelligencer; 2/13/09
CHESTER COUNTY County Seeks Intervenor Status with Transco PipelineAfter being petitioned by residents, local watershed groups, two state senators and two state representatives, Chester County Commissioners Friday asked for intervenor status in the Williams Transco pipeline expansion project. The commissioners also asked for a new hearing and a stay of the proceedings, including any condemnation actions. Attorneys for Williams are negotiating with landowners for additional rights of way for the expansion of natural gas pipelines. Many residents are being threatened with eminent domain proceedings if they object to the intrusion on their property. Although several county departments — including the Chester County Planning Commission, the Water Resources Authority and the Conservation District — have submitted detailed comments regarding the pipeline's impact, opponents of the project wanted the county commissioners to also lend their support.
Source: Daily Local; 2/7/09
Reeves Decision Delayed — AgainThe Schuylkill Township Board of Supervisors Wednesday evening accepted the offer of Pohlig Builders to extend – once again – the deadline for decision on Pohlig's preliminary plan for residential development of the Reeves Tract. The Board also joined the legal battle over the Township's Zoning Hearing Board's decisions on the proposal. The Board will also submit a defense of Pohlig's appeal of additional portions of ZHB's decision, preserving the Board's right to rule on issues raised there under the Subdivision and Land Development Ordinance. Unlike similar decision extensions granted in the past, the current one is not tied to a firm date. Pohlig offered an open-ended timeline, with the provision that a decision could be demanded with a 60-day notice to the Board.
Source: The Phoenix ; 2/6/09
London Grove Township Eyes InniscroneLondon Grove Township is very close to purchasing Inniscrone Golf Course. That was the announcement by Township Manager Steve Brown this week. The proposed purchase cost is $750,000 to the township. However, in a legal notice in the Daily Local News on Feb. 9, the total cost of the project is stated to be $1.2 million for property, acquisition of equipment, capitalized interest and payment of costs of issuance of notes. The meeting to consider incurring the debt was to be held tonight, Feb. 12, at the township building. The 250-acre course sits along East Avondale and State roads. The township intends to continue to run it as a golf course as a source of income through a professional firm that operates courses. If the golf course fails as a profitable enterprise, the township will still have it for a spray field and could set it aside also as open space or for athletic fields. The township hopes to settle by March 15.
Source: Avon Grove Sune; 2/11/09
DELAWARE COUNTY Concord Approves Proposal for New HospitalAfter more than two and a half years from the date the initial sketch plan was introduced, supervisors last week unanimously approved a final land development plan submitted by Main Line Health for the construction of a hospital on South Brinton Lake and Spring Valley roads. The plan calls for the construction in three phases of a hospital, medical office/ambulatory care building, parking areas and two parking garages located on 91.6 acres.
Source: Daily Times; 2/10/09
Newtown to Discuss SewersThe Newtown Municipal Authority will be holding the second of two special informational meetings regarding public sewer expansion starting at 7 p.m. on Feb. 18 in the municipal building, 209 Bishop Hollow Road . The first question-and-answer session was held Dec. 2 and was attended by about 75 residents. Much of the audience was from Echo Valley and Florida Park , representing the two Newtown Township neighborhoods that will most benefit from the proposed project. Also related to sewers, township supervisors recently approved an application for a Pennsylvania H2O Sewer Grant for up to $18 million to fund the planned expansion. The requested amount represents the estimated total cost of new pipeline infrastructure, according to township Engineer David Pennoni. The state will be awarding H2O grants this year for flood control, sanitary or storm sewer projects. If Newtown receives grant money to defray expansion costs, the reduced fiscal burden on taxpayers could also result in lower fees for new sewer connections.
Source: Daily Times; 10/2/09
Radnor to ‘Stop the Bleeding’ The Radnor Township Board of Commissioners will take steps to change an administrative action that has allowed township employees to accrue thousands of hours of vacation days, sick leave and compensation time. The practice of allowing unlimited accrual, which some say was simply a misinterpretation of township administrative code, resulted in about $1.3 million in payouts to retirees in 2007 and will continue as employees retire through the years. At the board's meeting Monday, special counsel Neil A. Morris recommended that the board "start the process of correcting what has gone on" by amending the administrative code and approving future resolutions that he will propose.
Source: Wayne Suburban; 2/11/09
MONTOGMERY COUNTY Smoke Detectors in Bedrooms Needed for Hatfield Township U&O Inspections Please be advised that all existing single-family homes being sold in Hatfield will need to have a working smoke detector in every bedroom to pass the Use & Occupancy Inspection. Any type of working smoke detector will be accepted. For more information, download the Hatfield Township Use & Occupancy Permit Procedures or call 215-855-0900.
Commissioners Compile Stimulus Wish ListMontgomery County commissioners have compiled a $43 million list of projects that the county could spend stimulus money on, should the federal stimulus funds trickle down to the county level. The county listed projects in all four categories being discussed by federal lawmakers: transportation; energy efficiency and alternative green technology for government buildings; redevelopment; and healthcare. The most costly of the proposals is a $15 million project to replace windows and construct a more energy-efficient façade at One Montgomery Plaza , an office building purchased by the county two years ago. The most costly transportation project slates $14.5 million to provide new ramps at the Upper Merion interchange of the Schulkill Expressway and Henderson Road . Another $3.2 million is earmarked for traffic signal upgrades throughout the county and another $2.1 million for road repaving and guide rail replacement.
Source: The Intelligencer; 2/9/09
Commissioners Approve County Road ProjectsTaking aim at the traffic problems facing Montgomery County , the commissioners have signed off on four “jump start” regional transportation projects intended to relieve traffic congestion. The commissioners have slated $5.7 million in capital dollars to push the projects from the drawing board into construction. The projects will require $150 million in borrowed money over the next ten years, which must be approved by voters in a referendum on the November ballot. The four projects include:
~A $7.5 million widening and reconstruction project of Sumneytown Pike in Upper Gwynedd , and the construction of a new overhead railroad bridge;
~The purchase and installation of eight new traffic lights along Route 611 in Jenkintown, which would complete the coordination of all traffic signals on Route 611 from Philadelphia to Doylestown, costing the county $576,000;
~The purchase and installation of a new traffic light at routes 63 and 29, costing the county $135,000;
~The widening of Matsonford Road to allow two lanes of traffic at a cost of $700,000 for the county.
Source: The Intelligencer; 2/8/09
North Penn Approves Preliminary BudgetThe North Penn school board approved a $206.5 million preliminary budget that calls for a tax hike of about $136 for the average homeowner in the district. The 4.89 percent increase would raise the property tax rate from 20.54 to 21.54. The 2009-2010 budget is about $10 million more than the current budget of $196.3 million.
Source: The Intelligencer; 2/11/09
