Capital market participants with the capacity to become syndicators have the advantage of being able to draw on US experience--indeed, some US syndicators might decide it would be profitable to set up a Canadian operation--although the Canadian capital market has grown in depth and sophistication since syndicators marketed MURBs
Under phase 1 of this energy efficiency research and demonstration project for MURBs
, the building enclosure renewal will facilitate an estimated 20% reduction in energy consumption, including a very significant 85% reduction in electric space heating in residential units.
Says Paterson, "The hype of the '70s and the MURBs
and Scientific Research tax shelters were two tragedies for the brokerage business.