OREA coordinated appearances before the Standing Committee on Finance and Economic Affairs (SCFEA) by the London and St. Thomas Association of REALTORS® and the Ottawa Real Estate Board (OREB) to strengthen organized real estate’s key messages on recommendations for the Ontario 2011 Budge. SCFEA travelled to London and Ottawa as part of its annual consultations around the 2011 Ontario Budget.
Both presentations focused on OREA’s two main recommendations for the 2011 budget: personal real estate corporations and brownfield redevelopment.
“We at LSTAR believe that there are sound public policy reasons for permitting personal real estate corporations,” explained LSTAR President Jack Lane during his presentation. “Allowing real estate salespeople to incorporate would give them the same business opportunities afforded to members of other regulated industries.”
The Chair of OREB’s Government Relations Committee, Linda McCallum, reinforced OREA’s key messages on brownfield redevelopment during her presentation to SCFEA.
“Lowering property taxes on brownfields will encourage more redevelopment, which has a number of benefits for municipalities, the province and Ontarians,” explained McCallum. “For example, brownfield redevelopment creates jobs, revitalizes communities, is in line with existing provincial policy, promotes infrastructure renewal, and expands both the municipal and provincial tax bases.”
To read a copy of OREB’s and LSTAR’s presentations visit the Ontario Legislature’s website.