Jodi Summers = Green Real Estate

NEW GREEN GOLD @ LAX

by Jodi Summers

Los Angeles International Airport has the world’s first LEED Gold Aircraft Rescue and Fire Fighting facility.  The Gold certification recognizes the project’s efforts at maximizing operational efficiency while minimizing negative environmental impacts.

Also known as LAFD Station 80 at Los Angeles International Airport, the building has incorporated a slew of green features, which yield energy cost cuts of 35% per year. Green upgrades include low-flow plumbing systems which reduce annual water usage by 39%. Water savings have further been achieved via utilizing more than 2,000 gallons of reused water for dust control in place of potable water.

The facility has installed a high-performance heating, ventilation and air conditioning unit which resets temperatures to optimum efficiency while maintaining the comfort level of the building occupants. Presence of occupancy-sensor controlled lighting fixtures contributes to the sustainability factor by reducing energy consumption.

The building has made extensive use of low VOC paints, adhesives, and sealants in the interior to upgrade indoor air quality. Other eco-friendly features include use of 20% of reclaimed materials during construction, and recycling or salvaging over 99% of construction debris.

All of these green elements have given LAX’s Aircraft Rescue and Fire Fighting facility LEED Gold certification from the US Green Building Council. It is the second building at LAX to incorporate LEED standards and receive LEED certification. The first building to incorporate LEED standards was the $737-million renovation of the Tom Bradley International Terminal – the first-ever for a renovation project at a U.S. airport. It received LEED Silver certification.

Los Angeles World Airports Executive Director Gina Marie Lindsey said, “The LEED Gold certification reflects our commitment to contribute to Mayor Antonio Villaraigosa’s vision of making Los Angeles the cleanest big city in America, and is in keeping with a sustainable ‘green’ building policy adopted by our Board of Airport Commissioners that commits us to incorporate LEED  standards in all our future construction projects.”

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http://www.worldinteriordesignnetwork.com/news/los_angeles_airports_aircraft_rescue_and_fire_fighting_facility_wins_leed_gold_111122/

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THE SAVE ACT MAY INSPIRE REAL ESTATE

by Jodi Summers

The SAVE Act, is new bill being proposed in Congress, would create 83,000 jobs and generate $1.1 billion in annual energy bill savings. Officially known as the “Sensible Accounting to Value Energy” (SAVE) Act, it would require mortgage lenders to include expected energy-costs savings into the value of a home. Bill sponsors, Senators Michael Bennet (D-Colorado) and Johnny Isakson (R-Georgia), call the bill, ”A win-win for the economy and the environment.”

The Institute for Market Transformation notes that SAVE Act would help revitalize the hardest hit sectors of the economy by providing lower rate mortgage financing for cost effective energy improvements; allowing homebuilders and homeowners to recover the cost of efficiency investments; and enabling better federal mortgage underwriting while lowering utility bills for American households.

“It would allow folks to retrofit their homes and be rewarded for it over the life of the loan,” Senator Bennet enthused.

Let’s put the SAVE Act into action using a recently built home as our example. Most likely the newer home is as much as 75%-more energy-efficient than its older neighbors > saving the owner $1,500 a year. Under the SAVE Act, that savings would be factored into the value of the home and the borrower’s ability to make the mortgage payments.

Expected benefits include:

* Enable federal mortgage programs to improve the quality of mortgage underwriting and provide an accurate picture of repayment risk and the expected costs of homeownership

* Greatly accelerate the supply of and demand for energy-efficient new homes

* Quickly return any incremental cost for homebuyers due to home efficiency improvements

* Consistently and accurately account for energy efficiency in appraisals, enabling builders and homeowners to invest in energy-saving features

* Put people in the construction and manufacturing sectors back to work renovating and building energy-efficient homes and products

“It allows us to build and sell more energy-efficient houses, which is a win-win,” shared Randy Melvin of Winchester Homes. “It’s good for us, it’s good for the environment, it’s good for the consumer, it’s good for our country’s energy independence.”

The average homeowner spends more than $2,000-a-year on energy, yet it is not factored into appraisals, unlike insurance or real estate taxes.

“Let’s say you install double-pane windows in your house that create energy efficiency, that’s a cost as homeowner, but it’s a savings that the lender can now recognize,” concludes Sen. Bennet.

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http://www.9news.com/news/article/231578/188/New-bill-would-compensate-homeowners-for-green-building

http://www.prnewswire.com/news-releases/the-save-act-at-long-last-recognizing-the-value-of-efficiency-investments-132233213.html

http://www.imt.org/save-act

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GOOD NEWS FOR THE OFFICE BUILDING MARKET > NOT SO GOOD NEWS FOR GREEN OFFICE TREND

by Jodi Summers

Good news for office building owners > if you’ve got tenants, they are likely to stay. The latest research shows that more than 61% of tenants in U.S. office buildings intend to renew their leases, as per Kingsley Associates’ Q3 2011 Office Industry Trends. The not so good news is that the national interest in green is waning.

The poll was conducted among businesses nationwide from 3Q 2010 – 3Q 2011. Of those polled, 61.3% of tenants indicated that they “definitely” or “probably” would renew. This shows the highest level of loyalty since 4Q 2008.

Tenants are pleased with green money-saving improvements that have been made to their spaces > even appreciating simple additions like timers on heating and cooling systems , improved recycling set-ups and bicycle racks. Basically, tenants are happy to have a business that’s up and running in the wake of the recent recession. 64.8% of tenants reported either “good” or “excellent” value for the amount paid, up from 63.9% last quarter.

“Office users have taken advantage of favorable rates and are generally happy with their space,” comments Jim Woidat, a principal at Kingsley Associates. “Now that the economy has stabilized somewhat, there are indications they are ready to start hiring again.”

A fine sign is that tenants are optimistic about our economic future > 14.9% anticipate growth, and expect need more space. Additionally – yeah economy! – 37.8% of tenants expect to add employees at their location. Landlords…make sure you have mass transit and additional parking information ready. Also, do you promote sustainability, and offer premiere parking spaces for carpooling? Proactive moves like this cost nothing and make you look green / more desirable. It also takes the onus off of supplying more parking spaces.

Nationally, the proportion of tenants indicating that green practices are “very” or “somewhat” important to them fell below 59% for the first time in three years. Indeed getting the economy back on track is the business priority. Once business gets phat again, that’s when green practices will come into bigger play.

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http://www.costar.com/News/Article/More-Tenants-Satisfied-with-Staying-Put/133518

http://www.kingsleyassociates.com/TenantSurveyTrends2011Q3.htm

http://www.kingsleyassociates.com/documents/Tenant_Survey_Trends_2011Q3_Kingsley.pdf

http://www.socalofficerealestateblog.com/?s=google

U.S. FIRST > A NATIONAL GREEN BUILDING CODE

by Jodi Summers

It’s a first for the U.S. > a national green building code. In development for more than two years, the International Green Construction Code (IgCC) applies to all new and renovated commercial buildings and residential buildings over three stories high.

“It represents a change in the standard of construction,” says Jessyca Henderson Director of Sustainability Advocacy at the American Institute of Architects. “It will affect everyone that touches buildings…it will be a big leap.”

To develop the code, the International Code Council collaborated with the American Institute of Architects, US Green Building Council, and the American Society of Heating, Refrigeration and Air Conditioning Engineers (ASHRAE), among other appropriate agencies.

The new code creates a mandatory “floor” – enforceable minimum standards on every aspect of building design and construction that now must be reached. These new minimum standards apply to all aspects of building design and construction, including energy and water efficiency, site impacts, building waste, and materials.

Here are some of the new rules of property development as set forth by the new ICC green building code:

Site Development, Land Use: In a big move toward environmental preservation, development on Greenfields (undeveloped land) is no longer acceptable, although there are exceptions based on existing infrastructure. There are new guidelines for site disturbance, irrigation, erosion control, transportation, heat island mitigation, graywater systems, habitat protection, and site restoration…so you too can help save the Round-tailed Ground Squirrel.

Materials:  As with California codes, the ICC code requires a minimum of 50% of construction waste must be diverted from landfills, and at least 55% of building materials must be salvaged, recycled-content, recyclable, biobased, or indigenous. Buildings must be designed for at least 60 years of life, and must have a service plan that justifies that. If 600 years ago they built properties that have lasted 600 years, using modern technology for new construction to last 1/10^th that time should be easy.

Energy Efficiency:  total efficiency must be “51% of the energy allowable in the 2000 International Energy Conservation Code” (IECC), and building envelope performance must exceed that by 10%. It sets minimum standards for lighting and mechanical systems, and requires certain levels of submetering and demand-response automation.

Water Efficiency: The ICC code establishes maximum consumption of fixtures and appliances and sets standards for rainwater storage and graywater systems.

Indoor Air Quality: As you would expect, the new code addresses radon, asbestos, VOCs, sound transmission, and daylight.

Commissioning, Operations: Maintenance gets more complex. New green buildings require pre- and post-occupancy education of building owners and maintenance employees.

Here’s a cute perk…every project is also required to choose an additional “elective,” which pushes the envelope for the developer further. There’s a sexy menu of elective choices, like whole-building life-cycle assessment to more stringent recycled-content.

Local governments and states have the choice of adopting the code – many California cities like West Hollywood, Santa Monica and Berkeley have already implemented their own codes. But, once a city chooses the ICC codes – which require no additional budget – it’s enforceable…but does allow for flexibility within the rules depending upon location and size of building. Also, it’s customizable. Municipalities can add their own requirements on top of the code that address local concerns such as stormwater management or lighting pollution control.

No information was shared on how these new rules will affect cost…we await that information with bated checkbooks. Expect the final code to reach the public late in 1Q 2012.

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http://www.sustainablebusiness.com/index.cfm/go/news.display/id/23142

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SANTA MONICA > SUNNING ITS WAY TO NET ZERO ENERGY CONSUMPTION

by Jodi Summers

The City of Santa Monica has figured out how to monetizing their beautiful weather to meet their solar objectives. Solar Santa Monica has a set target to establish 500 kilowatts (kW) of solar for Fiscal Year 2011-12. That’s a generous leap from the 209 kW of solar was installed throughout Santa Monica for 2010. The objective is to become a Net Zero city by 2020.

The term “Net Zero” describes an energy consumption model that result in the City having no net gas or electricity purchases annually.

“Integrating the installation of energy efficiency, solar, and clean distributed generation throughout Santa Monica over the next 15-20 years can result in the onsite generation of enough power to meet the net annual electricity requirements of the city and may even allow the community to become a net exporter of electricity,” observes Energy and Green Building Programs Administrator Susan Munves. “Thus, Santa Monica would become a Net Zero energy city.”

Since 2006, about 2.5 megawatts (MW) of solar electric systems have been installed on more than 300 rooftops in Santa Monica, generating about 4 million kilowatt hours (kWh) annually (or 2.5 percent of Santa Monica’s total annual electricity use). 34 households went solar in 2008, more than 47 households took the solar challenge in 2009, and numbers will obviously continue to grow.

Reaching solar projections will be aided by a new 1-3-year contract with EcoMotion, a company that has been working closely with Santa Monica since 2006. It began when EcoMotion was awarded a contract for more than $532,000 to develop Phase 1 of the Community Energy Independence Initiative, a program aimed at installing energy efficiency measures and solar electric or solar thermal systems throughout Santa Monica.

Since the first solar systems were installed in Santa Monica in 1990, the cumulative effect is noteworthy. The City now boasts 1,471 kW of solar capacity. This has created:

• $17,000,000+ in consumer savings

• Up to 29 green jobs

• 829 tons of greenhouse gas reductions annually

Now Santa Monica has entered into a contract with EcoMotion to develop and implement the “Solar Santa Monica” program.

“EcoMotion would … facilitate and coordinate the City’s efforts to establish a Community Solar Fund whose goal will be to provide solar financing options to commercial, City facilities, residential, affordable housing, and non-property owners,” confirms Munves.

On EcoMotion’s agenda with Solar Santa Monica is a public awareness program, integrating energy efficiency initiatives for single family homes, continuing its focus on commercial and institutional sectors, and, seeking new funding avenues.

Thus far, Santa Monica has set up a rebate program to subsidize the purchase of solar thermal systems (hot water) for both residential and commercial sites. Solar Santa Monica introduced the program via its newsletter and through joint marketing with its preferred solar thermal contractors. We have yet to set up anything like the Berkeley FIRST solar partnership that allows property owners to pay for energy efficiency improvements and solar system installation as a voluntary long-term assessment on their individual property tax bill.

Santa Monica has big projections from the Solar Santa Monica ramp-up. With an additional 3,530 kW in the queue, the City will likely more than double its capacity continuing up the path necessary to fulfill the 103 MW solar potential projected for Net Zero.

In addition to motivating residents, the City is doing its part. The Santa Monica Malibu Unified School District (SMMUSD) recently entered into a solar power agreement to install 516 kW of solar at six elementary schools in Santa Monica during the next summer vacation.

Santa Monica is known for 200+ days a year of sun…might as well make the most of it.

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http://www.smmirror.com/#mode=single&view=32705

http://www.santamonicapropertyblog.com/?p=134

http://globalgreen.org/press/15

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http://www.ci.berkeley.ca.us/ContentDisplay.aspx?id=22196

http://www.solarsantamonica.com/documents/Third-SSM-Annual-Report-4-20-10.pdf

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GET GREEN > REASSESS YOUR REAL ESTATE AND SAVE THOUSANDS IN PROPERTY TAXES

by Dan Auld

Bill Gunderson knows what rich people own. What they buy and sell. And what they pay in property taxes. As one of America’s top wealth managers, he’s seen it all.

And without a doubt, he says the easiest way for property owners to make money is to reassess the value of their homes to reduce property taxes.

“People all over America are paying way too much in property taxes,” Gunderson said. “And it is easy to see why: Property values have crashed, in many cases by 50% and more. But many are still paying taxes on the former value of their homes.”

The owner of a commercial building in Southern California, for example, recently received a property tax bill based on an assessed value of $2.6 million, But the property has been listed for half of that for almost a year — and still no takers.

“That person is paying tens of thousands a year too much,” Gunderson says. “In many states more.”

Many do not notice that because their property taxes are paid automatically as part of their mortgage payment. “It is the most expensive and common mistake I see,” Gunderson said. “And the most important and easiest to fix.”

Examples are easy to find. And easy to understand. But Gunderson says the real challenge is filing the application to have your assessment reduced. It is not that hard.

Some companies will charge you a few hundred dollars to perform this service, and that can be the most productive investment you will make all year.

The filing deadline to appeal this year’s assessment varies by state and county.

In Utah, the deadline is 45 days after receipt of your assessment, which is mailed out in July. In California you have from Apil through the deadline of November 30.

But usually that is for taxes due next year. So if you have a bill based on an unrealistic assessment, you still have to pay that. Fair or not.

“That is ridiculous,” Gunderson said. “These property tax bills should go down automatically. But they don’t. So you have to pay attention and present evidence from comparable values or recent appraisals that show you property is over-valued.”

“It’s not that hard to do.  You just download a form from your local tax assessor’s office then send it in.”

Even some of the big shot accountants for very wealthy people do not pay enough attention to this, Gunderson said. And it is not just for homes, it is also for commercial properties, rentals, and other tax-paying entities.

Gunderson is a frequent guest on national news and financial shows, including America Live with Megyn Kelly, America’s Nighty Scoreboard with David Asman, Bloomberg News, Barron’s, and dozens of others.

He is also the author of the Best Stocks Now app. “It is good to know all about earnings and stock reports and new products and other things that are important to an investment portfolio,” Gunderson said. “But making sure the county assessor has the correct value for your property is for many people found money, free money. But first you have to read your property tax bill and compare it to what your property is worth. The rest is easy.”

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