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MEREDA Makes News.

Maine newspapers and radio and television stations, as well as national publications like The Wall Street Journal, seek out MEREDA leaders for comments on issues of concern to the commercial real estate industry. Check out some recent recent articles and news releases below

Construction Businesses: Navigating State and Federal COVID-19 Workplace Safety Requirements

On April 28, Governor Mills released Restarting Maine’s Economy, which lays out a plan for re-opening non-essential businesses. Businesses that were previously deemed essential, including construction businesses, may continue operations – the Governor’s new plan does not impact them. However, as the pandemic evolves, the State is shifting its attention to COVID-19 prevention and workplaceRead More

Legislative Update from Maine Real Estate & Development Association (MEREDA)

While much has changed in the world in the past months, the MEREDA Public Policy Committee has continued to stay engaged on critical matters impacting our members. From ensuring a last-minute enactment of an extension to the Maine Historic Rehabilitation Tax Credit (MHRTC), to advocacy before the Governor’s office on state action related to COVID-19,Read More

Real Estate as an Essential Business – DECD Guidance and City of Portland Restrictions on Real Estate Activities 

On April 15, 2020 the Maine Department of Economic and Community Development (DECD) released new guidance related to the operations of real estate as an essential business during the COVID-19 pandemic. DECD has considered real estate to be an essential business since the Governor’s announcement of a stay-at-home order limiting business activities, but had providedRead More

Pandemic Leaves Landlords in a Difficult Position

by: Gary D. Vogel, Attorney, Drummond Woodsum, MEREDA President The coronavirus pandemic is affecting everyone.  Many businesses are shut down, or are minimally operating.  The CARES Act recently adopted by Congress with over two trillion dollars of emergency funding will provide a lifeline for many businesses.   Especially important is the SBA Payroll Protection Program (PPP)Read More

Governor Mills issues Executive Order lifting in–person requirements for certain notarial acts and acknowledgements

On Wednesday, April 8, 2020, Governor Mills issued Executive Order 37 (EO 37), An Order Temporarily Modifying Certain In-Person Notarizations and Acknowledgement Requirements. This order relaxes certain legal requirements that may make it easier for MEREDA members to execute and close deals during the COVID-19 pandemic. Specifically, EO 37 suspends the requirement that a personRead More

Maine Home Prices – Where do we go from here?

by: Dava Davin, Principal, Portside Real Estate Group When I presented at the 2020 MEREDA Real Estate Forecast Conference in January, I was full of good news and positivity in the residential market. I shared that 2019 represented the eighth straight year of rising home prices in Maine resulting in a record-breaking year with the medianRead More

Message from MEREDA’s President

To our Members: What a challenging time we find ourselves in!  First and foremost, I hope this email finds you, your family, loved ones and coworkers safe and healthy.   We hope that you are coping with all of the changes that have been thrust upon all of us.   We are all in this together!  Read More

Successful CEO’s Look Back to Prepare Forward

by George E Casey Jr., Chief Executive Officer, Stockbridge Associates, LLC General Patton said he hated paying for the same real estate twice.   You should feel the same about paying for the same business lessons again in the future. Right now, things seem pretty ugly from a business and economy standpoint.   That’s what bothers me. Read More

Vital Ideas – The 1031 Dominoes

by Brit Vitalius, Principal, Designated Broker, Vitalius Real Estate Group In 2019, we saw 1031 exchanges used even more frequently than in past years. Interestingly, the variations in the transactions illustrate a number of different ways the 1031 exchange can be used to accommodate different investment transitions. The following is an example of a dominoRead More

What’s Up in the Hotel Business?

by Sean Riley, President & CEO, Maine Course Hospitality Group Great Ride for Hotels I recall speaking at the MEREDA conference back in 2009. It was a tough year to begin my motivational speaking career.  But what a remarkable recovery this industry has had. Looking back, Occupancy was 54.6%. This past year was the tenthRead More