Lane Powell Of Counsel Walt McMonies was quoted in a January 28 Daily Journal of Commerce Oregon article titled “A Push for Preservation Assistance.” The article discussed the proposed Revitalize Main Street Act, which will be introduced to the Oregon Legislature in 2015. If passed, the act would create a historic rehabilitation fund to help offset the cost of restoring and upgrading aging buildings, which could ultimately encourage more renovation projects throughout the state. The act would help break down the financial barrier for many property owners considering seismic upgrades and other costly measures to rehabilitate their older buildings.
The fund would be especially helpful to building owners facing the high cost of retrofitting unreinforced masonry buildings, said Walt McMonies, a Portland property owner and Senior Real Estate Attorney with the Portland office of Lane Powell. He serves on the Restore Oregon Board and is a Member of a steering committee backing the Revitalize Main Street Act.
“It’s going to help the construction industry if we pass this because it’s real money that will be spent on these buildings,” McMonies said. “There will be a lot more people renovating their buildings. It really will start a renovation boom.”
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