The NYSCAR Board of Governors met on February 4^th via Zoom.  Committee reports and chapter reports were received and officers and new governors were sworn in by Patrick Reilly, VP of board and member services, NYSAR.  The 2021 officers are as follows:

• James Walker, CCIM President (Hudson Valley);
• Dana Crocker, First VP (Syracuse);
• Robert Strell, Second VP, (WNY);
• Mercedes Brien, Treasurer (Rochester) and
• Jay Feinberg, Secretary (Hudson Valley).

Governors:

• Ed Gallacher, CCIM, (Utica),
• Robert Giniecki, CCIM, (Albany),
• Jim Kelly, CCIM (Syracuse) and
• Ginny Squire (Rochester).

I hope you were able to take advantage of the February 3^rd class, “Building Your Commercial Real Estate Business” instructed by NYSCAR past president Edward  Smith, Jr.  Ed did a great job for the 70 attendees and we look forward to more programs with Ed in the future.  Watch your email for details!

In our continuing effort to bring you great networking/education on a monthly basis, we are pleased to have Joe Larkin, CCIM, MCR, SIOR present a two-hour program entitled “Subleasing and Lease Buyouts: Strategies and Analysis” on March 4^th. Attendees will learn:

• Recognize the impact of non-financial clauses in a sublease.
• Develop an understanding of how to model a sublease transaction.
• The benefits of a subleasing that will reduce the cost to occupy.
• Calculate the financial value range for a sublease.
• Evaluate subleasing scenarios.
• Utilize the sublease analysis for a buyout transaction.
• How to create value with buyout negotiations by subleasing space.
• The three approaches to establishing a lease buyout price.
• Simulate a lease buyout case study using Excel.

Important notice about the Annual New York State Real Estate Conference

As you know, the Annual NY State Commercial Real Estate Conference was scheduled for June 7-9, 2021 at Turning Stone Resort and Casino.   The Board has decided to schedule the conference during the Fall, in the hope that the conference can be held in person.  We will keep you up to date and notify you as soon as we have a firm date.

Save the Dates!

April 8 and 9, 2021

Annual Spring Commercial Real Estate Conference, sponsored by Hudson Valley Chapter of NYSCAR!

Date TBA

“Selling Commercial and Investment Properties: Issues, Money, and Laws” instructed by Ed Smith, Jr.  Watch your email for details!

Karen Klecar named NYSCAR Realtor of the Year

NYSCAR is pleased to announce that Karen Klecar, associate broker with Hanna Commercial Real Estate, Rochester, New York is the recipient of the New York State Commercial Association of Realtors 2020 Realtor of the Year Award.  The announcement was made February 4^th, during the NYSCAR Board meeting by Gordon Furlani, (CBRE Albany) the 2019 recipient of the Realtor of the Year Award.

The award is given each year to recognize an outstanding active member of the New York State Commercial Association of Realtors. President of the Southern Tier Chapter of NYSCAR, Klecar was recognized for her untiring efforts on behalf of the association and her enduring work to bring timely programs and speakers to the local chapter.

Klecar is a current governor on the Board of the NYS Commercial Association of Realtors and the chair of the Town of Union Assessment Board.  She has previously served on the Board of the Village of Endicott Planning Board; the Empire Zone Board, Endicott Historical Preservation Commission and Susquehanna Heritage Area Commission. Congratulations Karen!

National Association of Realtors (NAR) Urges Support for Small Businesses, Commercial Real Estate
February 5, 2021, The Washington Report

On Thursday, February 4^th, the House Small Business Committee held a hearing, “The State of the Small Business Economy in the Era of COVID-19.” NAR sent a letter to the committee, thanking it for its work in support of small businesses during the pandemic, and urging continued action to provide greater relief to the commercial real estate sector.  

Specifically, NAR asked for continued support for the SBA’s Paycheck Protection Program and its Economic Injury Disaster Loans, emphasizing the need for them to be simple to access by small business owners and efficiently administered.  In addition, NAR asked that Congress reconsider the Main Street Lending Facility, created by the CARES Act.  This lending program was intended to help businesses that may qualify for PPP loans but need more assistance, or who do not meet all of the SBA program size standards but are still being impacted by the pandemic.  Unfortunately, due to high minimum loan requirements and low lender participation, it has not lived up to expectations, and billions of dollars in funding for it remain unused.  Reconfiguring the program so that funding gets released to the businesses that are hurting the most - and that will be so important to the economic recovery once the pandemic is over - should be a priority for Congress.  

NAR Calls on Realtors Who Give Back to Apply for the 2021 Good Neighbor Awards
Program has awarded $1.4 million in grants to hundreds of Realtor-led charities since its inception in 2000

As part of its ongoing commitment to supporting the altruistic efforts of America’s 1.4 million Realtors, the National Association of Realtors announced that it has begun accepting applications for the 2021 Good Neighbor Awards. The program was created to recognize Realtors who have made an extraordinary impact in their communities through volunteer service.

Five winners will each receive a $10,000 grant for their nonprofit organization and will be recognized at the 2021 Realtors Conference & Expo in San Diego, earning travel expenses to the conference and considerable media exposure for their cause. Five honorable mentions will also each receive a $2,500 grant.

“I’m proud that Realtors across this country continue to build on our strong tradition of giving back through volunteer service, particularly during a time when so many are in need,” said NAR president Charlie Oppler, noting that nearly three in four Realtors reported volunteering in their community in 2020. Read more here.

James Walker, CCIM, is the current president of NYSCAR, Albany, N.Y.