RAD Conversions for MOD Rehab/MOD Rehab SRO Projects
On September 19, 2024, Governor Gavin Newsom approved Assembly Bill (AB) 2243 (Wicks), which amends AB 2011 (Affordable Housing and High Road Jobs Act of 2022), effective January 1, 2025. As explained in our prior legal...more
Minnesota’s legislature rushed through several bills this year affecting recruiting and staffing associations and other service providers such as property management companies. One such law may, as one member of the Minnesota...more
The Council of the District of Columbia held its second vote on the fiscal year (FY) 2025 Budget Support Act (BSA), which was unanimously approved on June 25, 2024. As part of the amended text, the Council funded the Central...more
Introduction: Hidden Challenges of Energy Transition - The evolution of energy transition in the United States has been driven, historically, by advances in new technology, fuel availability, fuel pricing, and, probably...more
The adopted 2024-2025 budget for New York state includes the enactment of two programs intended to assist the production of housing in New York City: the Affordable Neighborhoods for New Yorkers Program (ANNYP) to replace the...more
Earlier this month, the District of Columbia’s Office of the Deputy Mayor for Planning and Economic Development (DMPED) issued proposed rules that lay the groundwork for a competitive process to provide gap financing of...more
A plan administrator did not abuse its discretion in concluding that a former employee’s surviving spouse was not entitled to life insurance benefits under an employee benefit plan. In Hayes v. Prudential Insurance Company of...more
This week, New York City’s Office Adaptive Reuse Task Force released a study calling on the city and New York State to loosen regulations preventing the conversion of older office stock into much-needed housing....more
As described in “Tax-Exempt Advance Refunding Bonds: History and Legislative Updates” by Caitlyn Smith Burchfield, the Tax Cuts and Jobs Act of 2017 bans the issuance of tax-exempt advance refunding bonds after December 31,...more
The Sixth Circuit recently held that an employer had no duty to notify employees of conversion options in group life insurance policies. ...more
Not much, really. While the entity’s form and structure morph to an LLC, the rights and liabilities of the entity are generally unaffected. Under California’s statutes governing the conversion of an entity to an LLC...more
More than 20 years ago, I was the Executive Editor of my law school’s news magazine. In one of my final issues, a friend of mine wrote an article that was serious, but really funny at times. His bone of contention was over...more
RAD Conversions for MOD Rehab/MOD Rehab SRO Projects Owners and managers of units subsidized through HUD's Moderate Rehabilitation (Mod Rehab) program, including Mod Rehab Single Room Occupancy (SRO) units, should be...more
Owners and managers of units subsidized through HUD's Moderate Rehabilitation (Mod Rehab) program, including Mod Rehab Single Room Occupancy (SRO) units, should be considering converting their existing Mod Rehab and Mod Rehab...more
Developers need to keep an open mind to protect themselves against construction defect claims. Insurance is a vital tool, but it should not be the only one in a developer’s risk management toolbox. Another useful tool—the...more
98% of the liabilities of Lehman Brothers International (Europe) (in administration) (“LBIE”) were denominated in non-sterling currencies. The fall in sterling after LBIE entered administration resulted in significant paper...more
The IRS has released proposed regulations implementing the new centralized partnership audit rules. These regulations are virtually identical to the regulations that were released and then pulled in January of this year. ...more
A recent court case, Erwood vs Life Insurance Company of North America, is a reminder that plan sponsors must understand the terms of their welfare and retirement benefit plans, and ensure that their staff follows the...more
In Magna Equities II, LLC et al., v. Writ Media Group Inc., et al., No. 653808/2016, 2017 BL 115243 (N.Y. Sup. Ct March 30, 2017), Justice Peter Sherwood dismissed for lack of jurisdiction and failure to state a claim all...more
The 2017 Budget was presented by Minister Pravin Gordhan before Parliament on 22 February 2017. The 2017 tax proposals are projected to raise ZAR28 billion, and increase the tax burden from 26% of GDP in 2016/17 to 26.7%...more
The IRS released a flurry of new rules as the Obama administration came to a close. The attached presentation provides an overview of many of these developments in the partnership and real estate tax area, including a...more