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Feinberg opens new avenue for qualifying real estate licensees
As most of you are aware, the real estate industry’s only remedy for oil spill-related losses in our state has been the Mississippi REALTOR Disaster Relief Fund, facilitated by the third-party claims adjustment firm, NCA, or the possibility of legal action. We are delighted to announce that real estate professionals are now eligible to file for either Interim, Final or, in some cases, Quick Final payments the from Ken Feinberg’s Gulf Coast Claims Facility (“GCCF”).
This change in policy will mark the end of emergency payments for oil spill losses from the Mississippi REALTOR® Disaster Relief Fund. In the next two weeks, NCA will be completing work on all pending Mississippi real estate licensee claims, and preparing those records to transfer to GCCF. If you have filed a claim with NCA and wish to have your information transferred to GCCF, you will need to read and execute an online release form (available at http://ms.gulfreclaims.com) so that your file may be transferred to the GCCF for further processing. All claimants will need to complete a new claim form for the GCCF, but if you execute the online release your paper documentation will be transferred from NCA to the GCCF and you can attempt to avoid compiling necessary documentation a second time for your claim with the GCCF. Please note – additional documentation may be requested by the GCCF, and it is highly recommended you comply with their request in order to speed up the process.
Real estate licensees are encouraged to compose specific statements to submit to GCCF with their claim forms t illustrating how their losses are related to the oil spill including such things as market data or communications from buyers or sellers, tenants or landlords that document the impact of the spill. Please note the Mississippi Association of REALTORS® and the Mississippi REALTOR® Disaster Relief Fund will have no ability to track claims at the GCCF, and will not be further involved in this process in any way.
If you are a current claimant and awaiting word on a supplemental emergency payment through NCA, please contact NCA immediately to ascertain if they need more information to complete your emergency claim. If you are a current claimant and have not filed for supplemental emergency payments through NCA for August, September or October, 2010, you have a deadline of Friday, March 4th, 2011 to go online at http://ms.gulfreclaims.com and complete your submission.
Deadline Nearing to File Claim for Real Estate Income Losses Related to Oil Spill
Kenneth Feinberg confirmed at NAR Convention in New Orleans that the deadline for filing initial claims for emergency payments is Tuesday, November 23rd. If you have not yet filed a claim for real estate income losses, you just have a few days left to submit your initial claim.
For those of you who have filed an initial claim already, you may also visit http://MS.gulfreclaims.com and click on the purple “August and subsequent months” button on the right hand side of the page to amend your claim to include August, September and October losses. We understand that the November 23rd deadline does not apply to these amendments, but we are asking that you update your claim as soon as possible so that we will be able to determine the amount of funds remaining.
- The claims administrator of the British Petroleum Gulf Coast Claims Facility (GCCF) has announced a special allocation from the fund for licensed real estate professionals in the Gulf Coast region, including Mississippi.
- The state REALTOR® Associations in Alabama, Florida, Louisiana, Mississippi and Texas will receive emergency funds based on estimated losses in the coastal regions of their respective states, and have been cooperating in the development of a timely, transparent and objective process for receiving and processing claims and determining loss payments.
- The Gulf States REALTOR® Associations are individually contracting with a third party professional claims adjustment firm, Indiana-based National Catastrophe Adjusters, Inc., to handle all claims relating to this fund in an effort to ensure the timely, efficient and fair processing of all claims.
- The fund is intended to provide emergency payments to licensed real estate agents and brokers for losses relative to the spill, focusing first on known losses from the May, 2010 through July, 2010 time period.
- In Mississippi, real estate activity in Hancock, Harrison and Jackson counties will have priority eligibility under the prescribed protocol.
- No waiver will be required to receive these emergency payments.
Real estate licensees who believe they might have a claim should gather the documents needed to verify their claim. Suggested items include 2009 tax returns, monthly income statements from 2009 and 2010 and 1099s. Documents related to cancelled contracts or leases should include cancelled transactional contracts and cancelled leases, verification of buyers’ cancellation due to the oil spill and other related authenticating evidence.
- File a claim online at www.MS.gulfreclaims.com
- File a claim in person at the Gulf Coast Association of REALTORS® office, 141 DeBuys Road, Gulfport, MS, 39507.
- Schedule a claims appointment or get more info by phone: (800) 968-4456
ADDITIONAL INFO ABOUT MISSISSIPPI CLAIMS
- In Mississippi, real estate activity in Hancock, Harrison and Jackson counties will have priority eligibility under the prescribed protocol.
- All checks will be made payable to the designated broker, as per Mississippi License Law.
- Licensees are eligible to apply for lost income for ONLY those months for which they held an active Mississippi real estate license.
- Claims for May, 2010 through October, 2010, whether paid in one check or multiple checks, are subject to an initial aggregate $12,000 cap.
- The deadline for filing claims covering losses for the period May, 2010 through October, 2010 is November 23, 2010.
- As defined by GCCF, the following types of real estate-related claims are NOT ELIGIBLE through this special allocation and should be filed with the GCCF (www.gulfcoastclaimsfacility.com):
- Lost appraisal income
- Lost rental income
- Lost property management fees
- Two categories of claims ARE ELIGIBLE through this special real estate allocation:
- Commissions lost due to contracts cancelled because of the oil spill (residential and commercial). Documents needed to verify these losses include cancelled transactional contracts and cancelled commercial leases, verification of buyers’ cancellation due to the oil spill, copies of the “Working With a Real Estate Broker” form, the seller’s disclosure statement and other related authenticating evidence.
- Lost income from real estate activities (both residential and commercial). The amount of lost income is determined by comparing your monthly pre-oil spill income calculated from January, 2009 through April, 2010 with your monthly post-oil spill income, initially calculated from May, 2010 through July, 2010 and then calculated for August, September and October, 2010 (a sample calculation follows). Documents needed to verify lost income claims might include 2009 tax returns, monthly income statements from 2009 and 2010 and 1099s and other authenticating evidence.
Mississippi Department of Marine Resources oil spill response
MDEQ Oil spill map - Mississippi Department of Environmental Quality has a new page on their website that provides data and information that are being collected in response to the Deepwater Horizon oil spill and will provide the public access to the most current information available. The map is updated regularly and can be accessed at http://opcgis.deq.state.ms.us/oilspillmap/. Locations where MDEQ and its partners have collected samples, as a result of different oil spill response activities, are displayed in the map application along with sampling results.
Current Air Quality along the Gulf Coast - MDEQ and the Environmental Protection Agency continue air monitoring, and to date all results are typical values for this time of year and below levels of concern. Air monitoring results can be viewed at http://gulfcoast.airnowtech.org/.
Mississippi Gulf Coast Convention & Visitors Bureau oil spill updates
Governour Barbour's oil spill resources for Gulf Coast residents page
EPA Response to BP Spill in the Gulf of Mexico - For information about validated environmental air and water sampling results, visit www.epa.gov/bpspill
US Fish & Wildlife Service repsonse to Spill - For daily updates about the Fish and Wildlife Service’s response and the status of national wildlife refuges, visit www.fws.gov/home/dhoilspill/.
Mapping the Response to BP Oil Spill in the Gulf of Mexico - By clicking on “View Interactive Map” you will be able to see the oil’s trajectory, fishery closures, the location of responders, and shipping information.
MS Commission for Volunteer Service - A request for volunteer support is now available for nonprofit organizations affected by the oil spill. Qualifying organizations will demonstrate how requested volunteers can assist in alleviating operational stresses a nonprofit organization is sustaining due to the oil spill. Volunteer support request forms are available at Volunteer Response Centers along the MS Gulf Coast. VRC contact and location information is available to the public at www.mcvs.org.
Individuals interested in volunteering can also register online at www.mcvs.org.
Volunteer Response Center Locations:
Hancock County Housing Resource Center
454 Hwy 90, Suite B Waveland, MS
Phone: 228-596-5546
Email: hancockvrc@gmail.com
Harrison County
Phone: 228-596-5780
Email: harrisonvrc@gmail.com
Jackson County
Phone: 228-382-7358
Email: jacksonvrc@gmail.com
- To report oiled shoreline, call (866) 448-5816.
- To submit your boat for the "Vessel of Opportunity" skimming system, or to submit alternative response technology, services, or products, call (281) 366-5511; (228) 523-4051; or (228) 523-4053.
- To report oiled wildlife, call (866) 557-1401. This hotline is staffed 24/7.
- To file a claim, or report spill-related damage, call BP’s helpline at (800) 440-0858. If you have already filed a claim and remain unsatisfied with BP’s decision, call the Coast Guard at (800) 280-7118.
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