2A — February 14 - 27, 2020 — M id A tlantic Real Estate Journal WE FIX: CRAWLSPACES
www.marej.com
Mid Atlantic Real Estate Journal
Mid Atlantic R eal E state J ournal Publisher, Conference Producer . .............Linda Christman AVP, Conference Producer ...........................Lea Christman Publisher ........................................................Joe Christman Section Publisher ............................................. Steve Kelley Section Publisher ............................................... Kim Brunet Editor/Graphic Artist ......................................Karen Vachon Office Manager ............................................... Kerrin Devine Contributing Columnist ...........Rebecca Makely, WITHUM; Jay L. White, MAI, CRE ®, , Apex Realty Advisory Mid Atlantic R eal E state J ournal — Published Semi-Monthly Periodicals postage paid at Hingham, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal, 350 Lincoln St., Suite 1105 Hingham, MA 02043 USPS #22-358 | Vol. 32, Issue 1 Subscription rates: $99 - one year, $148 - two years, $4 - single copy REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion 781-740-2900 | Fax: 781-740-2929 www.marej.com The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal
BEFORE
AFTER
New Rules & Proposed Legislation of the Immigrant Investor Program (EB-5) T Rebecca Makely he Immigrant Inves- tor Program (com- monly known as EB- 5) has been a hot topic of conversation lately, as new rules impacting the program went into effect on November 21, 2019. The new rules are collectively titled EB-5 Im- migrant Investor Program Modernization. The original program was created by Congress in 1990, with the goal of stimulating the U.S. economy through job creation and capital invest- ment by immigrant investors by creating a new commercial enterprise of investing in a troubled business. There are up to 10,000 EB-5 immigrant visas available to be issued annually. The visa grants the ap- plicant (and immediate fam- ily) conditional permanent residence in the U.S. for two years. Within 90 days of the two year period expiring, the applicant must submit evidence that the investment
Symptoms of a Crawlspace Problem
• Rising Odors • Mold • Rotting beams
• Higher Cooling or Heating Bills • Cold Floors • Termites or Ants
Don't Ignore your Crawlspace! 844-339-2883
$400 OFF your Crawlspace Project Cannot be combined with any other offer. Please present at time of estimate. Cannot be added to existing estimate.
created at least 10 full time positions for qualifying em- ployees. To qualify for an EB-5 visa, foreign investors have to make a capital investment in a for-profit US entity. Un- der the original program, if the project was in a targeted employment area (TEA), the minimum requirement was $500,000; otherwise it was $1M. Under the new rules, the minimum required in- vestment has been increased to $900,000 in a TEA, or $1.8M in a non-TEA. TEAs are designated areas that are rural or experiencing high unemployment rates. In addition to the increase in minimum investment amounts, the new rules made
changes as to how an area is determined to be a TEA. Spe- cifically, TEA designations are no longer made at the state and local government level. Designation as a TEA are reviewed and determined directly by the Department of Homeland Security. The stated reasoning behind this change is to address the is- sue of gerrymandering of high-unemployment areas (essentially drawing district lines to include a small por- tion of a TEA to a project in a more affluent area to qual- ify for the lower investment amount), but the concern is this will result in more strict and limiting parameters for investment. continued on page 4A
PA LICENSE006745NJ13VH04264100
FULL-SERVICE BROKERAGE SERVICES
Retail
Kaplin Stewart At t o rney s a t Law Business and Corporate Law - To the point! Experience Counts. Count On Us.
CONTACT US TODAY TO LEARN MORE.
NEWARK/REHOBOTH BEACH, DE
Contact: NEIL A. STEIN • nstein@kaplaw.com • www.kaplaw.com 910 Harvest Drive, Blue Bell, PA 19422 • 610-941-2469 Other Offices: • Cherry Hill, NJ 856-675-1550 • Philadelphia, PA 215-567-3120
KSAd8X8.5DDixonPencil.indd 1
7/18/19 11:41AM
Made with FlippingBook - Online magazine maker