INTERSTATE LAND SALE FULL DISCLOSURE ACT HEARINGS BEFORE THE SELECT COMMITTEE ON SMALL BUSINESS UNITED STATES SENATE NINETY-FIFTH CONGRESS Printed for the use of the Select Committee on Small Business 24-004 O U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1978 SELECT COMMITTEE ON SMALL BUSINESS GAYLORD NELSON, Wisconsin, Chairman THOMAS J. MCINTYRE, New Hampshire SAM NUNN, Georgia WILLIAM D. HATHAWAY, Maine LOWELL P. WEICKER, JR., Connecticut WILLIAM B. CHERKASKY, Executive Director CONTENTS Arquilla, Robert, president, National Association of Home Builders, Page Farrer, Richard C., chairman, Legislative Committee, National Asso- ciation of Realtors, accompanied by Dudley O'Neal and Atilla 118 Potts, George G., director of public affairs, American Land Develop- ment Association, accompanied by William B. Ingersoll, general Roth, George F., attorney, Godfrey and Kahn, S.C., Milwaukee, Wis. Woll, Steven A., executive director, Metropolitan Builders Association Worthy, Patricia M., Administrator, Office of Interstate Land Sales Registration, U.S. Department of Housing and Urban Develop- ment, accompanied by Alan J. Kappeler, Associate Administrator, OILSR; and Peter S. Race, Attorney, Office of General Counsel, Letter dated December 13, 1977, to Hon. Patricia Roberts Harris, Secre- Resolution of the National Association of Home Builders, May 9, 1977. News release of the National Association of Home Builders, January 5, List of local, State, and Federal governmental agencies with which most real estate developers must deal in the course of developing a project_ _ Survey prepared by the Land Development Institute, Ltd., 1976- Letter undated, to the Select Committee on Small Business, U.S. Senate, from S. M. Karsh, president, Western Developers Council, Palo Alto, Letter dated September 23, 1977, to Albert E. Abrahams, National As- sociation of Realtors, from Louie Reese, The Reese Co., Inc., Birming- Letter dated August 17, 1977, to Albert E. Abrahams, National As- sociation of Realtors, from Marvin E. Monroe, Administrative As- sistant, Office of Congressman Tennyson Guyer Letter dated October 7, 1977, to Albert E. Abrahams, National As- sociation of Realtors, from Lloyd Lovitt, Jacobson and Lovitt, Memphis, Letter dated October 20, 1977, to Albert E. Abrahams, National As- sociation of Realtors, from Robert E. Fowler, Fowler Realty, Inc., Letter dated October 21, 1977, to Richard A. Moore, Gaylord Brooks Investment Co., Phoenix, Md., from Dale B. Garbutt, Towson, Md.. Letter dated October 25, 1977, to Albert E. Abrahams, National As- sociation of Realtors, from Thomas F. Krenik, Krenik Realtors, Inc., Letter dated October 26, 1977, to Thomas F. Krenik, Krenik Realtors, Inc., Letter dated October 28, 1977, to Albert E. Abrahams, National As- Letter dated November 1, 1977, to Albert E. Abrahams, National Association of Realtors, from Duane A. Drushella, Drushella Realty, Albany, Oreg Letter dated October 21, 1977, to Dudley L. O'Neal, Jr., National As- Document, "Limited Offering Exemption," 24 CFR 1710.14(a)(2). Statement of record and property report, prepared by the Office of Inter- Letter dated February 13, 1978, to Frank J. Merendino, editorial as- APPENDIX Letter undated, to the Senate Select Committee on Small Business, from 178 182 203 205 207 266 272 286 323 343 353 355 S. 2716, a bill to amend the Interstate Land Sales Full Disclosure Act, 95th Congress, 2d session, March 10, 1978_ Letter dated April 22, 1977, to H. Jackson Pontius, executive vice president, National Association of Realtors, from R. H. Connell, R. H. Connell Realtor, Kimberling City, Mo.. Letter dated January 3, 1978, to Albert E. Abrahams, National Association of Realtors, from Burt Morris, Burt Morris Country Real Estate, Friendship, Wis.. HEARING DATES 360 367 374 January 5, 1978: Morning session.. January 17, 1978: Morning session.. 1 211 |