Realtors oppose Amendment 4

The Orlando Regional Realtor Association stands firmly in opposition to Amendment 4. This onerous amendment, to be included on the 2010 ballot in November, would bring every proposed change to the comprehensive plan of all Florida city and county to a voter referendum.

Under Amendment 4, the taxpayers will be forced to fund expensive referenda for every technical change to their local comprehensive plans. Orange County alone has averaged 40 technical changes to its comprehensive plan for the past four years!

“The bottom line is that ORRA is opposed to Amendment 4 because it will impede and even stop reasonable growth in our area,” says ORRA Chairman of the Board Kathleen Gallagher McIver, RE/MAX Town & Country Realty. “Amendment 4 would devastate not only the real estate industry but any future economic growth and the Florida economy as a whole.”

Here’s how:

-Under “modest” and “most likely” scenarios, amendment approval would impact Florida’s economic growth potential, causing a yearly decline in Floridians’ standard of living. It would dampen employment and slow growth within major industries.

-A recent economic study indicates that Florida’s tax revenues would sharply slow following Amendment 4’s passage as fewer commercial and residential properties are developed because of the increased costs and uncertainty associated with each comprehensive land-use plan referendum.

-That same study, by the Washington Economics Group, shows that Amendment 4 is likely to cost more than 260,000 jobs and reduce Florida’s economic output by more than $34 billion per year.

-A cutback in commercial taxes would force local and state governments to raise taxes, cut services, or both.

-Public schools, public safety, and local health care services would suffer from the direct impact of Amendment 4 (less funding for daily operations and for capital investments) and the indirect impact of fewer tax revenues (delayed construction pending approval at the next election).

ORRA is not the only organization to oppose Amendment 4; more than 200 others have taken a public stand against the amendment because of its impact on Florida’s economy, environment and quality of life. The Florida Chamber of Commerce has called the measure a “jobs killer” and 1000 Friends of Florida — the state’s top growth management watchdog group — has expressed that Amendment 4 may “encourage sprawling patterns of development.”

“During these difficult economic times, the last thing we need is an amendment that will lead to fewer jobs and a weaker economy,” says Gallagher McIver. “ORRA is encouraging Realtors and all who have an interest in Florida’s economy to vote “No” on Amendment 4.”

For more information, visit the Orlando Regional Realtor Association website at www.orlrealtor.com.