More than ever, the development industry needs permit extension legislation to ensure a robust real estate market once the current public health emergency is resolved. Legislation tracking the Permit Extension Act (PEA) of 2008 (PEA) should be implemented. While the severity of the extended economic downturn more than ten years ago made it difficult, if not impossible, for many commercial and residential developers to continue building, the severity of the situation today is more extreme.
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