President's Letter to Members

Dear ICSC Member,

I would like to share with you what ICSC is doing for its members and the shopping center industry during these difficult times. I believe these initiatives are of immediate and long-term importance, and that is why I chose to write you this letter instead of sending an email that may be overlooked or accidentally deleted.

RECon, ICSC’s annual convention, leasing mall, and trade exposition has always been a must-attend event for industry professionals and this year we are changing the format to meet your needs, and we are making it even more affordable for you to attend.

RECon One Price Package: ICSC has negotiated special RECon attendance packages that include round-trip airfare from 16 major cities, three nights hotel stay, RECon registration, and shared ground transfers in Las Vegas, all for under $972 taxes included! Rates are guaranteed through MARCH 20, 2009.

RECon Hotel Rate Reductions: ICSC has negotiated new lower room rates at over 40 Las Vegas hotels. The savings have been as high as $129 a night. For instance, The Las Vegas Hilton – immediately adjacent to the Convention Center - is now just $155 a night, a rate not seen since 1996!

RECon Reinvesting in Our Industry (ROI): RECon ROI is a unique opportunity to connect with industry experts, career builders, and entrepreneurs. More than 10 workshops and panels covering the essentials of retaining or gaining employment, professional development, risk management, restructuring loan agreements, and disaster budget forecasting will be hosted by industry professionals. Additionally, job listings and résumé postings on ICSC’s website will now be a free service to members.

To date, over 500 retailing companies have confirmed their attendance, 700 shopping center owners have committed to exhibit, and 10,000 industry professionals have already registered to attend RECon. Log on to http://www.icsc.org/2009SC/index.php to see who is coming.

But ICSC is not just RECon. As the trade and professional association for the retail real estate industry, ICSC is the industry’s chief advocate in front of elected officials. Recognizing that legislation can both positively and adversely impact our industry, I want to share with you some of our recent successes and the important issues we are lobbying for.

Already this year, ICSC organized an effort to defeat a potential tax increase on “carried interest” for real estate partnerships. If enacted, this significant increase in commercial real estate taxes would represent the most disruptive new tax since the Tax Reform Act of 1986.

ICSC is actively working with Congressional leaders and the Administration to highlight industry concerns about the capital market crisis and to educate decision-makers about the challenges faced by retail real estate. ICSC believes it is important for policymakers to enact measures that will restore credit capacity for retail real estate that include the following 3-point plan:

Repairing the Credit Markets
Reducing Potential Impediments for Commercial Loan Modifications
Supporting Main Street Businesses

ICSC has advocated for the continuation of safeguards for workers such as the secret ballot in labor organizing, and is opposed to the misnamed Employee Free Choice Act.

Now is also the time to keep local jobs and support our communities by leveling the playing field between on-line and brick-and-mortar stores. ICSC is pushing harder for legislation allowing our communities to receive sales tax on items sold over the Internet, keeping jobs local and communities strong.

This year, now more than ever, ICSC is committed to our members who count on ICSC for the programs and services they need to do their jobs better. I encourage you to call ICSC’s member services department to learn more about and take advantage of the programs I have outlined above, as well as the many other programs and services that are available to you as an ICSC member. For instance, did you know the ICSC Foundation is accepting applications for two $10,000 scholarships for full-time graduate students and two $5,000 scholarships for full-time undergraduate students studying for careers in retail real estate? Additionally, the ICSC Foundation offers numerous scholarships to attend ICSC’s schools for professional development. ICSC’s member services department is ready to answer any questions you may have about our programs and services and they can be reached by dialing 1 (646) 728-3800 ext. 1.

I thank you for your support of ICSC, and I sincerely welcome your input as to how we can best serve you and the shopping center industry.

Michael P. Kercheval
President and CEO