Freehold Capital Partners Corrects the Record On Private Transfer Fees
U.S. Newswire › September 22, 2010
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Summary
NEW YORK, Sept. 22 /PRNewswire-USNewswire/ -- The aggressive misinformation campaign being waged against capital recovery fees (also called private transfer fees (PTFs)) threatens to thwart the benefits of these important tools. PTFs are covenants used by real estate developers to spread development costs over all property owners who will benefit from the improvements over time. The fee covers the initial investment made to install infrastructure within developments, such as roads, sewer lines, water pipes, etc. In addition, PTFs have become more valuable in these economic times as developers struggle with negative equity in projects they borrowed for before the economic crisis began.
"There are important benefits of private transfer fees that are being overlooked at a potentially serious cost to the American economy," said land economist, Tom McPeak, Ph.D. "PTFs have been in widespread use for decades and there is no evidence of harm to consumers or lenders to support any claim that the use of these fees is detrimental."See the full content of this document
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Freehold Capital Partners Corrects the Record On Private Transfer Fees
Benefits:
PTFs lower the cost to homebuyers: By spreading the initial develo...See the full content of this document
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