News: Finance

Understanding the impact of casinos on Mass. communities - by Greg Curtis

Greg Curtis,
Newmark Knight Frank

On May 21st at Atlantic Wharf, the Massachusetts and Rhode Island Chapter of the Appraisal Institute is pleased to welcome officials from the Massachusetts Gaming Commission as well as representatives from Springfield and Plainridge to present “Understanding the Impact of Casinos on Massachusetts Communities.” Presentations will include an overview of the law and impacts expected from the new industry. There will also be a discussion of the process of selecting host and surrounding communities and ongoing community mitigation. Finally, there will be a presentation from the Massachusetts Gaming Commission’s director of research and responsible gaming who will discuss the commission’s public research work and focus to assess casino impacts on critical issues.

Presenters include the following:

• Bruce Stebbins, commissioner, Massachusetts Gaming Commissioner (MGC);

• John Ziemba, Ombudsman, MGC;

• Edward Pikula, city solicitor, Springfield, Mass.;

• Richard Allen, chairman of the board of assessors, Springfield, Mass.;

• Jennifer Thompson, town administrator, Plainville, Mass.

• Maureen Clarke, principal assessor, Plainville Mass.; and

• Mark Vander Linden, director of research and responsible gaming, MGC.

This program is approved for two hours of continuing education by the Commonwealth of Massachusetts, State of New Hampshire, State of Rhode Island, and by the Appraisal Institute.

The election of 2020 officers, directors, and regional representatives will take place at the chapter business meeting. 

Pursuant to the procedures specified in Article X, nominations and elections of the Massachusetts and Rhode Island Chapter of the Appraisal Institute’s bylaws, the nominating committee met via teleconference on April 1, and a follow-up electronic vote on April 9, and submitted the following slate for officers, directors and regional reps for the year 2020. The following represent only the vacant positions for this upcoming year, 2020.

President: George Demopulos, SRA, AI-RRS; Vice President: John Drew, MAI; Treasurer: Bradford Hevenor, MAI; Secretary: Robert Maloney, MAI.

Directors for a 3-year term (1/1/20 to 12/31/22): Ryan Christman, MAI; Thomas Jensen, MAI; Christopher Stickney, MAI.

Director to complete the term of Robert Maloney, MAI (1/1/20 – 12/31/21): Edward V. Bowler, MAI, SRA.

Regional Representatives - 2 yrs: (1/1/20 – 12/31/21): Edward V. Bowler, MAI; Bradford Hevenor, MAI.

Regional Representative Alternates – 1 yr: (1/1/19 – 12/31/19): Zach Bowyer, MAI Melanie Kosich, MAI Brett Pelletier Christopher Stickney, MAI.

Other networking events include AI After Hours at Jack’s Abby Brewery in Framingham which took place on May 9th and AI After Hours at Trillium Brewing Company in Boston will take place on June 4th.

Greg Curtis, MAI, is the 2019 president of the Massachusetts and Rhode Island Chapter of The Appraisal Institute, and senior vice president, valuation & advisory at Newmark Knight Frank, Boston, Mass.

MORE FROM Finance

Eastern Bank donates $2 million to Lynn Public Schools

Lynn, MA The city of Lynn’s purchase of the former Eastern Bank headquarters at 195 Market St. is paying dividends in more ways than one. In issuing an RFP in the spring of 2024, the city was seeking to acquire multi-purpose space,
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
 Real estate without good estate planning - a troublesome problem - by Daniel Calano

Real estate without good estate planning - a troublesome problem - by Daniel Calano

I spent the better part of a day this week working with attorneys on estate planning. I am clearly not an attorney, but I have learned much over the years while consulting on real estate, its potential, its future during the life of clients, as well as, shall we say, later.
The focus on price per s/f compared to the  comparable sales used in the appraisal report - by Dennis Chanski

The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski

Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
It’s a confusing real estate world: Don’t you think? - by Daniel Calano

It’s a confusing real estate world: Don’t you think? - by Daniel Calano

The news is full of “never before” pronouncements. Never before has there been a pandemic so impactful on real estate. Never before has technology allowed for remote business meetings on such a frequent basis. Never before would people so comfortably work from home as to vacate office buildings, at least on Fridays and Mondays.
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property