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I <br /> <br />I OFFICER__S <br /> President <br />· WILLIAM C. 'rOBIN <br />I Raucnhorst Cnrp. <br /> Vice President <br /> SIEVEN E. GAGE <br />· Garron Corp. <br />· Secrelan, <br />I WILLIAM D. ll,.{I.SIGER <br /> Alpha Asset Management° Co, <br /> <br />IDON WOODWARD <br /> Don Woodward & Assoc, <br /> <br /> Immediate Past President <br /> & National Dircclor <br />I SAMUEL S. M:\REIELD <br /> Marfield hncstment Co. <br /> Natio,ml la! Vice President <br /> JAMES C. STUEBNER <br />iNorthland Development Co. <br /> <br /> Regional Vice President <br /> BENJAMIN B. STEINBERG <br /> Steinberg Finaocial Corp. <br /> <br /> DIRECTORS <br /> <br /> BRUCE M. CARLSON <br /> Fine Associates <br /> <br /> ROBERT J. DAHLIN <br /> Rauenhorst Corp. <br /> <br /> ROBERT L. IOIINSON <br /> Johnson Investments <br />iKENNETH F. KOSS <br /> Minnesota Gas Company <br /> <br /> EUGENE A. KRAUT <br /> St. Paul Port Authority <br /> <br /> THOMAS M. LOFTUS <br /> Vantage Companies <br /> <br /> JAMES F. O'NEILL <br /> James F. O'Neill Company <br />I WILLIAM S. REILING <br /> Towle Company <br /> JAMES R. RYAN <br /> Ryan Construction Co. <br />IRICHARD D, SCHNEIDER <br />Northwestern National Bank <br /> <br /> KENNETH N. STENSBY <br /> United Properties <br />IManaging Director <br /> ED A. HARRINGTON <br /> Management 2 <br /> <br />i C <br /> OMMITTEE CHAIRS <br /> <br /> Directory <br /> ANTONE "TONY" HIPP <br /> Title Insurance Co. of Minn. <br />I Finance <br /> MARION R. FREED <br /> Prudential Insurance Co. <br /> Legislative <br />iJAMESC. STUEBNER <br /> Northland Development Co. <br /> Membership <br /> <br /> JOHN R. GABRIELSON <br /> Coldwell Banker <br />I Newsletter <br /> HARRY J. YAFFE <br /> Marfield Investment Co. <br /> <br /> Program <br />I DAVID R. WEIR <br /> Cramer-Weir Co. <br /> Public Relations <br /> RICHARD V. MARTENS <br />i Winfield <br /> Developments <br /> <br /> UPPER MIDWEST CHAPTER <br /> <br />National Association of Industrial and Office Parks <br /> <br />SEPTEMBER 1981 The Official Organization of the Office and Industrial Park Industry <br />TiiE ECoNoMIc / <br />RECOVERY <br />-- Its Im act On <br />TAX ACT OF 1981/Real EstateP'V;alues <br /> <br />September 15, 1981 · 7:45-9:30 a.m. · Radisson South Hotel <br /> <br /> FEA TUFTED SPEAKERS: <br /> <br /> JAMES B. GRIEBEL <br />COOPERS & LYBRAND, MINNEAPOLIS <br /> <br /> VINCE W. McBRIEN <br /> JMB REALTY CORP., CHICAGO <br /> <br /> James B. Grtebel <br /> <br /> MODERATOR: Michael Buzar, Coldwell Banker <br /> PROGRAM: The Economic Recovery Tax Act of 1981 (ERTA) has been <br /> heralded as an important first step in the <br /> reindustrialization of America. <br /> Its many provisions will have a profound impact on the supply of capital as well as on the investment <br /> strategy of both individual and institutional investors. To examine ERTA's impact on real estate <br /> values, this month's program will bepresented by representatives from two national firms having a <br /> wealth of experience in structuring transactions for real estate syndications and institutional <br /> investors. The new law offers many exciting planning opportunities and many unanswered <br /> questions. For ex ample, will the institutional investor who is accepting a 17% after-tax internal rate of <br /> return today, lower the pricing structure to account for increased depreciation deductions? Will most <br /> forms of mortgages become more attractive to the developer who may instead choose to retain or <br /> syndicate the increased tax benefits? Will pension funds expand their mortgage activities vs. direct <br /> real estate ownership if developers choose to retain the increased tax benefits? Will ERTA stimulate <br /> overall demand for ownership vs. rental, or will this occur for only the"big user" share of the market? <br /> Never have the changes in our industry been more dramatic than in the past twelve months and this <br /> seminar should be an excellent tool to assist you in structuring your new developments. PLEASE <br /> TAKE A MOMENT TO REGISTER TODAY SO THAT WE MAY MAKE ADEQUATE <br /> RESERVATIONS WITH THE RADISSON SOUTH FOR YOUR ATTENDANCE. <br /> <br /> REGISTRATION FORM <br /> The registration fee is $6.00 ~or Members and $19~.00 for Non-members. Advance registration is essential to assist <br />lus in pl arming and limiting our guarantees to the restaurant. Register today by sending a check to NAIOP at the <br />address below: <br /> SUSAN LEE -- CRAMER-WEIR COMPANY 5500 Lincoln Drive / Edina, Minnesota 55436 / Tel. 612-935-8482 <br />IName <br /> <br />Company <br /> <br />Address <br /> <br />I Member = Non-member Amount Enclosed <br /> <br /> <br />