FOUNDATIONS NEWSLTR NOVEMBER

NOV 2023

1 | FOUNDATIONS NEWSLTR

ROCHESTER AREA BUILDERS, INC.

2023 Past Presidents Back Row: Jon Cravath(2004), John Eckerman(2015), Gary Zander(2001), Brent Buchan(2008), Ed Lunn(1991) Second Row: Mike Paradise(2007), John McGuine(2006),Rory Lenton(2009,2011), Dewey Day(1976), Jason Scrimshaw(2023), Jerry Jensen(2019), Adam Giannini(2024), Kirk Gill(1983) Front Row: Becky Holmen(2022), Karen Steinlicht(2005), Karen Allen(2017), Darlene Drew(1990), Richard Hanson(1967,1969), Jean DeWitz(2013), Alissa Moe(2020)

2 | NOVEMBER 2023

2023 AUGUST MEMBERSHIP REPORT Membership Total: 405 Retention rate: 92.8%

STAFF

Patrick Sexton, Executive Director Pat@RochesterAreaBuilders.com Shelly Bahlmann, Publications & Special Events Director Shelly@RochesterAreaBuilders.com Builders, Bags & Brews, Golf Outing, Sporting Clays, Home Show, Newsletter, Showcase Magazine, RAB Update, Member Plus App & RAB Events App Rebekah Fierst, Member & Community Engagement Director Rebekah@RochesterAreaBuilders.com Ambassadors, Awards, Commercial Builders Council, Community Relations, Education, Membership, Fashion Show, Program, Remodelers Council, Executive & 40 Below Elizabeth Sullivan-Burton, Planroom & Finance Director Elizabeth@RochesterAreaBuilders.com Builders Exchange Trustees, Showcase, Remodelers Tour and Website

BOARD OF DIRECTORS PRESIDENT

Jason Scrimshaw, Kimley-Horn & Associates, Inc.

VICE PRESIDENT

Adam Giannini, Knutson Construction

SECRETARY

Jennifer Mitchenll, Edina Realty

TREASURER

Vanessa Hines, Widseth

PAST PRESIDENT

Becky Holmen, Haley Lighting

DIRECTORS

Derrick Chapman, Schmidt Carpentry Adam Kramer, Kramer Contracting Jarett Jones, Merchants Bank Aaron Thompson, The Design Connection Austin Ryan, Ryan Windows & Siding Kelsey Vaszily, Kraus-Anderson Construction Melissa Barbour, TLS Companies, LLC Joe West, Valor Mechanical Julie Herrera-Lemler, Rochester Area Economic Development, Inc. (RAEDI) / SBDC

BUILDERS EXCHANGE COUNCIL CHAIR

Katie Reinhart, Kraus-Anderson Construction

COMMERCIAL BUILDERS COUNCIL CHAIR Keith Kranz, LVC Companies

DEVELOPMENT COUNCIL CHAIR TBD

REMODELERS COUNCIL CHAIR Becky Holmen, Haley Lighting

40 BELOW CHAIR

Adam Giannini, Knutson Construction

NATIONAL LIFE DIRECTORS

Steve Buss, Cornerstone Builders & Real Estate, Inc.

NATIONAL DIRECTORS

Dana Hlebichuk, Widseth Levi Kaiser, Benike Construction (Rep) Todd Severson, TLS Companies, LLC

STATE DIRECTORS

Mike Allen, Mike Allen Homes, LLC Jay Burke, Heartwood Homes Jean DeWitz, DeWitz Home Builders, Inc. Kathy Einck, Maplewood Homes, LLC (Rep) John McGuine, JM Consulting John Eckerman, RSP Architects Kenneth Bush, Bush Companies

MISSION STATEMENT The Rochester Area Builders, Inc, chartered in 1953, is a professional organization of commercial & residential builders, remodelers, developers and associated businesses dedicated to advancing the building industry in Southeast Minnesota.

We are the trusted voice of the industry, providing leadership, education, networking, and information resources to our members, community and government officials.

3 | FOUNDATIONS NEWSLTR

TABLE OF CONTENTS 02

Staff and Board of Directors

04

RAB Yearly Calendar at a glance

05

RAB November Calendar

06

Welcome New Members

07

Networking Night

08

Proposes Changes to Overtime Pay Rules - Eye on Housing

11

CPI Increase Eye on Housing

13

Characteristics Home Buyers Eye on Housing

14-15 Permits

4 | NOVEMBER 2023

Rochester Area Builders 2023 Calendar of Events

OCTOBER 24

Networking Night @ F&M Bank

NOVEMBER 23-24

Office Closed – Thanksgiving Holiday

DECEMBER 8 25-26

Holiday Party @ The Hilton Office Closed – Christmas Holiday

2024

JANUARY 1 23

Office Closed - Holiday General Membership Meeting @ TBD

FEBRUARY 02-04 TBD 27 27-29

Home Show @ Mayo Civic Center Continuing Educaiton Class Networking Night @ Modern Design Cabinetry International Builders Show @ Las Vegas, NV

MARCH TBD 26

BAM Building Industry Day at the Capitol Networking Night @ The Pinske Edge

APRIL

20-21 Spring Showcase of Homes 27-28 Spring Showcase of Homes 30 Networking Night @ Hamernick’s Flooring Solutions

MAY 27

Office Closed – Memorial Day

5 | FOUNDATIONS NEWSLTR

Sunday

November 2023

Monday

Tuesday

Wednesday 1

6 12:00 PM Government Affairs Committee

12

Friday

Saturday

2

3

4

8

9

10

11

15

16

17

18

22

23

24

25

29

30

7:00 AM CBC Meeting

5

Thursday

11:30 AM Program Committee

7 8:30 AM Remodelers Council Exec.

11:30 AM Exec. Committee

13

14 3:30 PM Board Meeting

11:30 AM Ambassadors/ Membership Committee 4:30 PM 40 Below Exec Committee

19

20

21 3:00 PM Development Services Advisory Committee

26

27 11:30 AM Home Show Committee

28

11:30 AM Community Relations Committee

6 | NOVEMBER 2023

WELCOME NEW MEMBERS SEPTEMBER 2023

Anthony Properties

Justin Todd Developer 214.432.9506 anthonyproperties.com

Emergent Business Technologies

Terrance Vlach Technology Systems 612.423.4792 emergent-tech.net

COMMITTEES & COUNCILS

With over 20 committees and 5 councils, there is no shortage of opportunities to get involved with the Association.

From planning events, to awarding students scholarships, to participating in community projects, there are many options to choose from. As is often said, “You get out what you put into the Association”.

40 BELOW COUNCIL

This is an active, connected and engaged group of young professionals in the building industry.

Through community involvement, professional development and networking events, this group is creating a welcoming atmosphere to cultivate long-term connections both

COMMERCIAL BUILDERS COUNCIL

The members of this Council are interested in all aspects of commercial and industrial construction. They support one another and provide information to the community.

REMODELERS COUNCIL

The goals of this Council are to provide education for themselves in various areas of remodeling and to promote their expertise to the consumer.

DEVELOPMENT COUNCIL

The members of this Council are interested in the areas of industrial, commercial and residential development. They support one another and provide information to the community.

BUILDERS EXCHANGE COUNCIL

This Council provides access to commercial projects currently out for bid in our area. Members can view plans and specs in our office and also online at their office if they subscribe to the Plans Online Service. Members also receive the Weekly Bulletin and access to the website, giving them information on posted projects.

Contact Pat if you are interested in joining a council or committee.

COMMITTEE INVOLVEMENT OPPORTUNITIES • Ambassadors Club • Community Relations • Education • Golf Outing • Government Affairs • Green Building • Home Show • Membership & Retention • Program • Remodelers Tour • Showcase • Sporting Clay Shoot

7 | FOUNDATIONS NEWSLTR

ROCHESTER AREA BUILDERS NETWORKING NIGHT Hosted by : F & M Community Bank 1820 W Frontage Rd Hwy 52 NW Tuesday, October 24th 4:00 - 6:00

Join us for Pizza, Brews & Networking, while checking out our new building!

Parking available in our lot and across the street near Schmitt Music

8 | NOVEMBER 2023

LABOR DEPARTMENT PROPOSES CHANGES TO OVERTIME PAY RULES FOR CERTAIN SALARIED WORKERS

BY BRAD MANNION on SEPTEMBER 11, 2023

Late last week, the U.S. Department of Labor (DOL) issued a proposed rulemaking that would extend eligibility for overtime pay to roughly 3.6 million salaried workers.

Specifically, the agency’s proposal would increase the current salary level for determining overtime pay requirements for executive, administrative, professional, outside sales, and computer employees from $684 a week ($35,568 annualized) to $1,059 a week ($55,068 annualized) – a nearly 55% increase.

The rulemaking also proposes to put in place automatic updates to the salary level every three years to reflect current earnings data and inflation.

Under the Fair Labor Standards Act, salaried workers are exempt from overtime pay requirements if a worker earns at or above a defined salary level called the “standard salary.” Under the proposal, salaried workers — which often include construction supervisors — earning less than $55,068 per year will be eligible to receive the standard overtime rate for hours worked over 40 in a workweek.

According to a DOL news release, the agency held more than 25 listening sessions, several of which NAHB members participated, to help inform the proposed rule.

During these sessions, however, NAHB members questioned the timing of a new salary threshold, as the latest update went into effect less than four years ago.

Members also informed the agency that, while the construction industry is experiencing a severe workforce shortage, an adjustment to the salary level would likely result in challenges attracting and retaining these workers.

DOL is accepting comments on the proposed rule through Nov. 7. NAHB has submitted a request to the agency for the public comment period to stay open for an additional 60 days.

NAHB will submit comments in response to the DOL proposal and continue to provide updates throughout the rulemaking process.

9 | FOUNDATIONS NEWSLTR

BUILD COMPETITION

BLOCK KIDS

SATURDAY, OCT. 28 8:45AM - 11:30AM RCTC’S HEINTZ CENTER Open to 3rd & 4th graders

The Block Kids Building Program is a national building competition for children in K - 5th grades and introduces them to construction careers.

Participants are asked to create something construction related without adult help or guidance using approved materials and introduces them to construction careers.

THIS IS A FREE EVENT!! REGISTRATION DEADLINE IS OCTOBER 12.

LEGOS. POSTER BOARD. FOIL. STRING. REGISTRATION NOW OPEN! NAWICSEMN.ORG/BLOCK-KIDS

10 | NOVEMBER 2023

11 | FOUNDATIONS NEWSLTR

SHELTER DRIVES OVER HALF OF HEADLINE CPI INCREASE

BY FAN-YU KUO on OCTOBER 12, 2023

Consumer prices in September remained stable, with housing and gasoline cost continuing to be key drivers.

Despite the slight annual slowdown, shelter costs remain elevated, accounting for over 70% of the total increase in all items excluding food and energy.

The Fed’s ability to address rising housing costs is limited as shelter cost increases are driven by a lack of affordable supply and increasing development costs.

Additional housing supply is the primary solution to tame housing inflation. The Fed’s tools for promoting housing supply are at best limited. In fact, further tightening of monetary policy will hurt housing supply by increasing the cost of AD&C financing. This can be seen on the graph below, as shelter costs continue to rise despite Fed policy tightening. Nonetheless, the NAHB forecast expects to see shelter costs decline further later in 2023, supported by real-time data from private data providers that indicate a cooling in rent growth.

The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.4% in September on a seasonally adjusted basis, following an increase of 0.6% in August. The price index for a broad set of energy sources rose by 1.5% in August as the increase in gasoline index (+2.1%), electricity (+1.3%) and fuel oil index (+8.5%) more than offset the declines in natural gas index (-1.9%).

Excluding the volatile food and energy components, the “core” CPI rose by 0.3% in September, as it did in August.

Meanwhile, the food index increased by 0.2% in September with the food at home index rising 0.1%.

In September, the indexes for shelter (+0.6%) and gasoline (+2.1%) were the largest contributors to the increase in the headline CPI. Meanwhile, the indexes for used car and trucks (-2.5%) and apparel (-0.8%) declined in September.

The index for shelter, which makes up more than 40% of the “core” CPI, rose by 0.6% in September, following an increase of 0.3% in August. The indexes for owners’ equivalent rent (OER) increased by 0.6% and rent of primary residence (RPR) increased by 0.5% over the month. Monthly increases in OER have averaged 0.5% over the last nine months. These gains have been the largest contributors to headline inflation in recent months.

During the past twelve months, on a not seasonally adjusted basis, the CPI rose by 3.7% in September, the same increase as in August. The “core” CPI increased by 4.1% over the past twelve months, following a 4.3% increase in August. This was the slowest annual gain since October 2021. The food index rose by 3.7% while the energy index fell by 0.5% over the past twelve months.

NAHB constructs a “real” rent index to indicate whether inflation in rents is faster or slower than overall inflation. It provides insight into the supply and demand conditions for rental housing. When inflation in rents is rising faster (slower) than overall inflation, the real rent index rises (declines). The real rent index is calculated by dividing the price index for rent by the core CPI (to exclude the volatile food and energy components). The Real Rent Index rose by 0.2% in September.

12 | NOVEMBER 2023

VETERANS DAY

HONORING ALL WHO SERVED

13 | FOUNDATIONS NEWSLTR

CHARACTERISTICS OF RECENT HOME BUYERS

BY NA ZHAO on OCTOBER 11, 2023 In a new study, NAHB uses the 2021 American Housing Survey (AHS) to investigate the characteristics of recent home buyers, defined as households who purchased homes in the two years preceding the date the 2021 AHS was conducted. According to this criterion, roughly 10.2 million households recently bought and moved to a new home. The study focuses on two important groups of home buyers: those who bought a brand-new home (new home buyers), and those who purchased a home for the first time (first-time home buyers).

One important characteristic of home buyers is their income. In the 2021 AHS, the median household income for all recent home buyers was $97,700. Median household income among all home buyers grew 13% from $60,000 in 2001 to $68,000 in 2007 and then fell 4% to $64,998 in 2011. After the Great Recession, household income accelerated, jumping by around 50% from $64,998 in 2011 to $97,700 in 2021, as shown in Chart 1. Not surprisingly, new home buyers consistently show higher median income than first-time home buyers ($112,100 vs $90,000 in 2021).

In addition to characteristics of buyers, the AHS so provides information about the homes they purchased. For example, the median value of the homes purchased was $318,185 overall in the 2021 AHS. The median value of new homes was $429,205, and the median value of homes purchased by a first-time buyer was $271,445.

The 2021 AHS also shows how the homes were purchased. More than half of recent buyers put no more than a 20% down payment on the homes they purchased, as shown in Chart 2. Around 18% of all buyers purchased a home without a down payment in 2021, 50% had a down payment of 0 to 20%, and only 16% put more than 20% down. Among all recent home buyers, first-time buyers had relatively smaller down payments.

Approximately 82% of first-time home buyers put no more than 20% down, including 18% with zero down payment. In comparison, only 63% of buyers purchased new homes with no more than 20% down.

Considerably more detail is available in the complete study. Please visit the special study page to view the full report.

14 | NOVEMBER 2023

ROCHESTER BUILDING PERMITS

SEPTEMBER 2023 NEW RESIDENTIAL

2023

VALUATION

2022

VALUATION

2023 NO.

VALUATION

2022 NO.

VALUATION

BUILDING PERMITS ISSUED TO DATE

1767

420,849,654

1636

461,246,472

0

Single Family Dwelling

155

60,684,944

135

54,315,890

0

0

0

140

17,421,661

Multi-Family Buildings Total Units: 494

5

73,570,000

24

97,921,858

354,820

15

134,911

TRADE PERMITS ISSUED TO DATE

7808

116,526,666

7569

125,878,083

Electrical

3079

50,777,104

2995

56,517,986

Electrical (Temp. Service)

162

51,975

170

115,000

Single Family Dwelling

21

7,061,992

13

5,465,500

Townhome Dwelling

4

1,140,000

1

350,000

Two-Family Houses

0

0

0

Manufactured Home

0

0

Multi-Family Bldgs (Units)

0

23

EXISTING RESIDENTIAL Deck Addition

YEAR TO DATE STATISTICS

Room Addition

2

147,706

2

77,500

Porch Additions

5

134,254

0

0

Other Additions

8

760,463

2

16,400

Mechanical (HVAC)

2041

35,120,973

2057

33,514,490

483

947,620

408

819,530

Basement Finish

14

245,198

7

141,980

Mechanical (Gas Piping)

Alterations

20

565,033

57

1,233,281

Mechanical (Fireplace)

228

916,212

213

1,041,509

Mechanical (Hydronic)

131

9,082,823

168

13,176,906

Plumbing

1684

19,629,959

1558

20,692,662

TOTAL PERMITS YTD

9575

537,376,320

9205

587,124,555

Multi-Family Addition

0

0

1

4,000

Multi-Family Alterations

20

565,033

0

0

NEW COMMERCIAL Assembly (Church)

0

0

0

0

Assembly (General)

1

525,000

0

0

TCPA BUILDING PERMITS

Assembly (Restaurant/Bar)

0

0

0

0

Business

0

0

0

0

Education

0

0

0

0

Factory/Industrial

0

0

0

Institution

0

0

0

JUNE 2023

NUMBER

VALUATION

Cascade Township

8

600,000

Dover Township

2

26,000

Elimira Township

0

0

0

Haverhill Township

5

136,000

0

High Forest Township

Mercantile

0

0

0

0

Kalmar Township

Miscellaneous

0

0

0

0

New Haven Township

Residential (Apartment)

0

0

0

0

Orion Township Pleasant Grove Township

Residential (Care/Assisted Living)

0

0

0

0

Residential (Care/Hotel/Motel)

0

0

0

0

Storage (General)

0

0

0

0

Storage (Parking Garage)

1

4,800,000

0

0

Storage (Warehouse)

0

0

0

0

Utility (General)

1

341,000

1

9,700

Utility (Private Garage)

0

0

0

0

Addition

4

1,936,453

4

1,761,907

Alterations

31

22,863,466

28

14,818,117

Structural Shell

0

0

0

0

“White Box”

0

0

0

0

Interior Demolition Only

3

0

0

0

Other Phased Permits

0

0

0

0

Business Signs

18

174,312

7

106,100

Advertising Signs

0

0

0

0

Footings & Foundations

0

0

8

N/A

Demolition

3

0

6

N/A

EXISTING COMMERCIAL

OTHER CONSTRUCTION

TE9S A PD 4 1

N

OU

4,500 859,000 71,000

1

44,000

1

0

Rochester Township

6

646,000

Rock Dell Township

1

0

Salem Township

8

228,000

Viola Township

1

0

15 | FOUNDATIONS NEWSLTR

OLMSTED COUNTY PERMITS YTD NEW RESIDENTIAL

2023

Single Family-Detached

25

9,665,509

39

16,903,366

Single Family-Attached

2

689,195

7

1,784,377

Garage

17

1,296,983

22

1,829,424

32

199,566

42

262,364

VALUATION

2022

RESIDENTIAL Deck Addition

9

774,051

16

1,413,139

Alterations

310

5,384,088

228

3,988,670

6

533,951

3

164,894

Garage Addition

NEW COMMERCIAL/INDUSTRIAL Recreational

0

0

0

0

Church/Religious

0

0

0

0

Industrial/Warehouse

0

0

4

2,644,959

Service/Repair Station

0

0

2

3,041,530

Store/Restaurant

0

0

1

78,552

Nonresidential Building

2

1,800,890

1

616,530

COMMERCIAL/INDUSTRIAL

2023

VALUATION

2022

VALUATION

Addition

3

12,084,022

0

0

Alterations

18

1,038,821

20

4,535,343

Re-roofing

2

110,000

3

286,563

Pool, Retaining Wall, etc.

21

1,350,903

14

547,250

Manufactured Homes

3

0

12

0

OTHER STRUCTURES

MISCELLANEOUS PERMITS Mechanical

198

1,027,626

167

866,634

Plumbing

59

304,219

71

257,664

710

37,331,845

654

58,225,392

TOTAL PERMITS

CD Report

VALUATION

August 2023

BUILDING DIVISION Commercial building plans submitted

Residential building plans submitted

Commercial inspections completed

30

103

2023: 1,213 *Avg: 931

Residential inspections completed

YTD NEW Housing Units

Residential plan review time

Commercial plan review time

2023: 2,021 *Avg: 1,897

2023: 657 *Avg: 587

3 Weeks

4 Weeks

YTD Residential permits issued

YTD Commercial permits issued

YTD Trade permits issued

2023: 1,109 *Average: 1,038

2023: 286 *Average: 239

2023: 6,882 *Average: 6,748

YTD Residential valuations

YTD Commercial valuations

YTD Alterations valuations

YTD Trade valuations

2023 $134,717,672 *Average $115,844,527

2023 $43,333,200 *Average $93,028,043

2023 $222,210,701 *Average $118,753,049

2023 $100,759,064 *Average $89,238,430

OLMSTED COUNTY PERMITS TOWNSHIPS/CITY

SEPTEMBER 2023

2023

VALUATION

2022

VALUATION

City of Byron

30

995,115

19

118,999

Eyota Township

3

596,119

1

112,095

Marion Township

14

237,955

12

175,653

Oronoco Township

16

1,079,120

12

292,258

City of Stewartville

14

222,545

35

1,380,012

Quincy Township

2

483,446

3

68,400

PINE ISLAND BUILDING PERMITS AUGUST 2023 NEW RESIDENTIAL

NUMBER

VALUATION

Single Family Detached

0

0

Single Family Attached

0

0

Basement Finish

1

48,000

Deck Addition

0

0

Existing Residential

PLANNING DIVISION

YTD Building permit plans reviewed

YTD Zoning Certificates submitted

YTD Type I Applications submitted

2023: 1,295 *Average: 1,276

2023: 74 *Average: 84

2023: 60 *Average: 51

YTD Type II Applications submitted

YTD Type III Applications submitted

2023: 5 *Average: 3

2023: 29 *Average: 47

*Average based on 2020, 2021, 2022 * Due to report timing, the Community Development Report is a month late.

16 | NOVEMBER 2023

17 | FOUNDATIONS NEWSLTR

18 | NOVEMBER 2023

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19 | FOUNDATIONS NEWSLTR

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Contact Elizabeth for more information

20 | NOVEMBER 2023

Reach

Qualified Customers

Advertise on the RAB Website!

More than 3,000 people visit the RAB website each month, many of them looking for a contractor. Advertise on our site and reach them when they’re primed to buy! Banner ads are available in a variety of locations on the RAB site, from job posts to the contractor directory.

Higher tiers come with priority placement in directory search results too. Contact us today to learn how you can start advertising, starting at $299.

Contact Rochester Area Builders RAB@RochesterAreaBuilders.com or 507-282-7698

21 | FOUNDATIONS NEWSLTR

FOUNDATIONS NEWSLETTER ADVERTISING Rochester Area Builders Newsletter is an unbeatable opportunity to advertise to members and individuals associated with RAB. It is a source of valuable association and industry information, and is published and emailed monthly. Foundations is sent to over 1600 connected industry professionals.

Ad sizes are listed under Display Ad Dimensions, and prices are located above.

Ads may be changed from month to month.

Our prices are for full color ads. We will gladly work with you to design your ad.

Please send digital files for all ad copy, logos, and artwork. We use PC format.

We accept Illustrator and Photoshop files.

Convert all fonts to outlines. We also accept the following high resolution file types: .tif, .eps and .pdf (with all graphics and fonts embedded). If you have any other formats please contact us.

RETURN TO: ROCHESTER AREA BUILDERS

Shelly Bahlmann Shelly@RochesterAreaBuilders.com 108 Elton Hills Ln NW Rochester, MN 55901 507-282-7698

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Newsletter Display Ad Dimensions 1/2 Horizontal Full

8-1/2 x 5-1/2 8-1/2 x 11

Send artwork to Shelly@RochesterAreaBuilders.com by the 15th of the month to be included in the upcoming Foundation Newsletter.

22 | NOVEMBER 2023

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23 | FOUNDATIONS NEWSLTR

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