This 63 page legislation sponsored by Senator Dodd and others is intended to have the federal government guide or influence how local communities are developed in the future.
I have spent the last 2-weeks reading the legislation and posting the salient points for your own review and analysis. Communities plan for future growth through the master plan process. The federal government will provide GRANTS to planning agencies and municipalities to reshape their plan on how their community will grow in the future. Their emphasis will be on transportation, location, energy, and preserving undeveloped lands.
Without a question, this legislation will change the real estate development landscape for years to come. Remember, the real estate development industry is a fragmented industry spread over 40,000 municipalities. Once the local master plan is changed due to federal government influence, the ability to alter the local plan will not occur for another 5-10 years.
This is the first federal legislation that I have read in its entirety. I have to admit that it is scary to think that there is a group of people that actually think this stuff up and they sincerely believe they should change the way we live. Government would not be my first choice to guide my life, my profession, and my beliefs.
Truly scary is the fact that this bill is ONLY 63 pages in length and there were significant issues – almost on every page! Even some of the definitions were troublesome!
In comparison:
The Financial Reform Legislation signed into law is 2,300 pages in length.
The Health Care Legislation signed into law is 2,700 pages in length.
Need I say more ……………………………………………….....?
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