Recently, the roofing industry has voiced its support for the Public Buildings Renewal Act of 2019. This bill, if passed by Congress, will allow numerous public buildings in need of repairs to get the funding they desperately need. It will allow government facilities like elementary schools, public libraries, hospitals, research facilities and other buildings used by the general public to get significant attention. Of course, these buildings are not the only ones that will benefit from such a law, but the remodeling industry as well.
Tax-Exempt Funding
The Public Buildings Renewal Act will allow public buildings to have tax-exempt funding for its repairs. This is due to the private activity bonds that will be used as a financing vehicle for the funds, removing any tax burden from property owners. If the bill is passed, this isn’t just good news for taxpayers, but for public schools, hospitals and other federally owned buildings that need new facilities as well. With the funding they’ll receive, they can rehabilitate existing buildings that are past their life expectancy as the repairs needed can finally be conducted.
Marketplace for Private Sector Contractors and Investors
The bill isn’t just good news for those waiting on funds to repair public buildings, but also for the contractors who’ll be conducting the repairs as well.
Rehabilitation For Public Buildings
Most public buildings nowadays are way past their life expectancy and are in dire need of repairs. If enacted, the bill will open the public buildings market to public-private partnershisp, allowing them to be rehabilitated and repaired.
Tony’s Roof Care is your number one provider of roof repair and replacement services. Give us a call at (253) 200-4597, or fill out our contact form to free estimate.
Recent Posts
