American Institute of Architects (AIA) Calls on Obama Administration to Back Easier Credit and Faster Permitting Process
Accelerating Permit Process Means 6 percent Jump in Construction Spending, AIA Study Finds
For immediate release:
Washington, D.C. – June 13, 2011 –The American Institute of Architects (AIA) today pointed to two specific initiatives the Obama Administration could support to improve access to credit and remove un-necessary regulations that are hindering jobs growth in the design and construction industry.
In a speech Monday in North Carolina ahead of a meeting with his Jobs and Competitiveness Council, President Obama called for better access to credit for small businesses as well as getting rid of un-necessary regulations hindering business development and job creation. Obama also renewed his Administration’s “Better Buildings Initiative,” which would encourage more energy efficiencies in commercial buildings.
“The AIA has been a longtime proponent of energy efficiency and the Administration’s Better Buildings Initiative amplifies that American businesses could save $40 billion a year in utility bills,” said AIA President Clark Manus, FAIA. “But with one in 6 construction workers un-employed, there are other initiatives that the Administration can easily embrace beyond this importance initiative.”
Two specific initiatives worthy of Obama Administration support are:
- The Capital Access for Main Street (CAMS) Act, introduced by Rep. Ed Perlmutter (D-CO), which would temporarily allow small community banks with under $10 billion in assets to spread out or amortize a portion of their commercial real estate loans over a seven-year period. These banks, which provide many of the loans to our small businesses, would then have more liquid capital available to make responsible loans.
- Support a streamlined building permit process. An AIA study in 2006 found that communities with a more efficient building permit process can gain millions of dollars in tax revenues and significantly bolster their economic development. Implementation of a more responsive permit process over a five year period could result in a 16.5 percent increase in property taxes and a 5.7 percent increase in construction spending.
About The American Institute of Architects
For over 150 years, members of the American Institute of Architects have worked with each other and their communities to create more valuable, healthy, secure, and sustainable buildings and cityscapes. Members adhere to a code of ethics and professional conduct to ensure the highest standards in professional practice. Embracing their responsibility to serve society, AIA members engage civic and government leaders and the public in helping find needed solutions to pressing issues facing our communities, institutions, nation and world. Visit www.aia.org.