Colorado

CAR APPROVES FUNDING FOR REAL ESTATE STUDY
The Colorado Association of Realtors® Issues Mobilization Committee approved funding in June for a project to study the contributions of the real estate industry to Colorados economy. The study, which will be undertaken by the University of Colorados Leeds School of Business, will provide a meaningful and useful snapshot of the economic and fiscal outcomes of real estate activity in Colorado. The final report, which should be available this fall, will include: 1) up-to-date, reliable data and information that can be used to understand the outcomes at a state or market area level; 2) economic analysis demonstrating the outcomes resulting from real estate activity in Colorado; and 3) a policy-level report highlighting the findings and providing context of this industry, the Colorado economy, and connections within the general economy.

REALTOR® FAMILY SIGNING ON TO ECONOMIC RECOVERY BALLOT ISSUES
Voters will asked to approve referendums C and D, Colorado Economic Recovery Act, on November 1 that will allow state government to retain and spend $3.1 billion in TABOR surplus revenues over five years to address funding needs for transportation, education and state employee pension funds. Directors of the Colorado Association of Realtors® voted to support the referenda in June. The BARA Board of Directors will be asked to support the referenda at their July 20 meeting by adopting the following Statement of Resolution:
Statement of Resolution
In support of The Colorado Economic Recovery Act

Whereas The Boulder Area Realtor® Association represents real estate professionals and property owners in the Boulder area who collectively have a major impact on the regional economy and;

Whereas The Boulder Area Realtor® Association believes in the economic welfare of the state of Colorado, and;

Whereas The recent recession, combined with the September 11 attacks, caused our state revenues to drop 16 percent, forcing Colorado to cut $2 billion in spending the past three years, and;

Whereas Without immediate relief, state officials would have to start making even more massive cuts next year in funding for higher education, roads and healthcare, even as the states growing population creates demands for more spending; and;

Whereas Colorado must remain competitive with other states in seeking new jobs and investment from companies that demand good roads and schools whenever they expand their operations; and;

Whereas The State of Colorado will need $3.1 billion over the next five years to restore services that have been cut, ranging from Medicaid to higher education to strategic transportation projects, and;

Whereas The Colorado Economic Recovery Act proposes asking voters at the November 2005 Coordinated Election to forgo their TABOR taxpayer refunds for five years and let the state earmark that money for education, health care, transportation and retirement plans for fire and police, and;

Whereas In the sixth year, 2011, if revenue exceeds the amount the state can spend on these services, the first $100 million will pay bonding obligations for construction and other needs, including schools and roads, and;

Whereas In 2011, the income tax rate would drop from 4.63 percent to 4.5 percent and remain there every year there is a TABOR refund, and;

Whereas Together, we must help Colorado recover from our ongoing budget challenges,

Now, Therefore The Boulder Area Realtor® Association does hereby declare their full support of, and urge a YES vote for The Colorado Economic Recovery Act appearing as Referendum C & D on the November 1, 2005 statewide ballot.