News & Analysis as of

Affordable Housing Property Owners

Conn Kavanaugh

Affordable Homes Act Significantly Increases Homestead Exemption

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On August 6, 2024, Governor Maura Healy signed the Affordable Homes Act (the Act”), legislation whose purpose is to address rising housing costs within the Commonwealth by implementing public investment, changes to zoning...more

Otten Johnson Robinson Neff + Ragonetti PC

Explaining the New Governmental ROFR and ROFO in Colorado Applicable to Select Multifamily Properties

As of August 7, 2024, owners of for-rent affordable housing properties in Colorado consisting of five units or more and owners of for-rent market-rate multifamily properties in Colorado consisting of between 15 and 100 units...more

Bilzin Sumberg

Live Local Tax Exemption Procedures Updated for 2025

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The Florida Housing Finance Corporation has recently updated its guidance surrounding the Multifamily Middle Market Certification and its application process, as established by the Live Local Act. This initiative is...more

McGuireWoods LLP

Federal Adaptive Reuse Bill Introduced in House of Representatives

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U.S. Reps. Mike Carey (R-OH) and Jimmy Gomez (D-CA) introduced the bipartisan “Revitalizing Downtowns and Main Streets Act” in the House of Representatives on July 12, 2024. Modeled after the Historic Preservation Tax Credit,...more

Lerch, Early & Brewer

Montgomery County Enacts Sweeping Right of First Refusal Changes

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Under existing law in Montgomery County, Maryland, any time covered multifamily property is sold in the County, the County (acting through its Department of Housing and Community Development (DHCD)), the Housing Opportunities...more

Allen Matkins

Sustainable Development and Land Use Update 2.22.24

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The city of Berkeley will pay $4 million in connection with its mishandling of an application to build 260 housing units on the old Spenger's parking lot. Alameda County Superior Court Judge Frank Roesch fined Berkeley $2.6...more

Akerman LLP

D.C. Government Publishes Proposed Rules on Tax Abatements for Residential Conversions

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Washington D.C.’s Office of the Deputy Mayor for Planning and Economic Development (DMPED) released its proposed rules establishing how the D.C. government will implement the Housing in Downtown Tax Abatement program. A...more

DarrowEverett LLP

Benefits of Rhode Island’s Housing Legislation Go Beyond Housing

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In an effort to “fundamentally change [the State’s] approach to housing development, particularly for the moderate and affordable development we need most,” the Rhode Island General Assembly recently passed a slew of...more

Venable LLP

"Yes in God's Back Yard" Legislation Is the Next Tool to Battle the Housing Crisis

Venable LLP on

On October 11, 2023, Governor Newsom signed SB 4, the Affordable Housing on Faith Lands Act (also known as "Yes in God's Back Yard" (YIGBY)), which promises to be one of the momentous housing bills of 2023. Sponsored by...more

Seyfarth Shaw LLP

Montgomery County, Maryland Adopts 6% Cap on Rent Increases

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Seyfarth Synopsis: Montgomery County has enacted a comprehensive rent stabilization law that will limit annual rent increases for rental housing in the County to three percent plus CPI, with a maximum limit of 6%. The law...more

Locke Lord LLP

‎2023 Changes to Texas Law: Property ‎Tax Exemption for Public Facility Corporations Owning ‎Affordable Housing

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The 88th Regular Session (2023) of the Texas Legislature approved HB 2071 (the “Bill”), substantially revising the way public facility corporations can be utilized to own and operate affordable housing. While some provisions...more

Allen Matkins

Sustainable Development and Land Use Update - 2.16.23 #2

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A consortium of San Francisco landlords and property owners filed a lawsuit last week challenging the city’s new tax on vacant residences as unconstitutional and a violation of state law. Proposition M, “The Empty Homes Tax,”...more

Foster Garvey PC

Now Effective: New REET Exemption Available in Washington for Property to Be Used to Provide Affordable Housing

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As of January 1, 2023, providers of affordable housing in Washington State have access to a new exemption from the excise tax on real estate sales (also known as the real estate excise tax, or “REET”). This new exemption,...more

Allen Matkins

PropTech Update - November 2022

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With likely recession encroaching, PropTech seen as cost-cutting tool in CRE - Bisnow – October 11 A rolling series of challenges, from the pandemic to labor shortages to an unfolding economic downturn, have increased focus...more

Bowditch & Dewey

Boston’s Effort to Create and Preserve Affordable Housing: Real Estate Transfer Fees and Senior Property Tax Relief

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In a further effort to create and preserve affordable housing, the Massachusetts House of Representatives recently advanced House Bill 4637, “An Act Relative to Real Estate Transfer Fees and Senior Property Tax Relief” (“H.B....more

Best Best & Krieger LLP

AB 2244: Greatly Reduced Parking Requirements for California’s Places of Worship Building Affordable Housing

Religious Properties Can Now Cut Parking by up to 50% When Building Affordable Housing - California religious properties will now have greatly reduced parking requirements should they seek to redevelop portions of their...more

Cozen O'Connor

Broad Street Brief: Philadelphia Zoo’s New Giraffe Exhibit Fosters Friendship Between People and Animals

Cozen O'Connor on

Philadelphia Zoo’s New Giraffe Exhibit Fosters Friendship Between People and Animals- Giraffe Encounter, the Philadelphia Zoo’s newest exhibit that opened last Thursday, allows the public to get up close and personal with...more

Perkins Coie

Suit Challenging City’s Interpretation of 20-Year-Old Affordable Housing Agreement Was Timely

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The Court of Appeal ruled that a suit concerning an affordable housing fee that plaintiff had agreed to pay two decades earlier was still timely because the 90-day limitations period under the Subdivision Map Act did not...more

Allen Matkins

Sustainable Development and Land Use Update - June 2021 #2

Allen Matkins on

Bruce's Beach bill, SB 796, passes California Senate and heads to Assembly - Spectrum News – June 2 - California Senate Bill 796 — which clears the way for the beachfront land known as Bruce’s Beach to be returned to...more

BCLP

Bound to fail: Can I rely on my restrictive covenant to prevent building on neighbouring land?

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A proposed development - A developer has obtained planning permission to build some affordable housing, but the land on which it wishes to build borders my land. Several years ago, when the land was divided up from a...more

Foster Garvey PC

Short-Term Rental Update: Vacasa as the first STR platform to directly connect to Google Hotels; Marriott selects BookingPal as...

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Vacasa is the First STR Platform to Directly Connect to Google Hotels - ("Google Signals Its Vacation Rental Ambitions With Vacasa Direct-Connect," Skift Travel News on Sep 5, 2019) Big news from our friends at Vacasa...more

A&O Shearman

New York Rental Regulations: Sweeping Rental Regulation Reform Signed Into Law

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On June 14, 2019, New York State Governor Andrew Cuomo signed into law the Housing Stability and Tenant Protection Act of 2019, introducing sweeping tenant protections. Below is a short summary of key changes in the new...more

Ervin Cohen & Jessup LLP

Client Alert Update: More Details on Changes to TOC Maps

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As described in our previous Client Alert, the Los Angeles City Planning Department is reviewing its current TOC Tier designations, and due to mistakes in current TOC maps, many properties will have their Tier designations...more

Ervin Cohen & Jessup LLP

Changes to TOC Tier determinations are coming in December – be careful before buying new properties and get your applications in...

The Los Angeles City Planning Department is reviewing its current TOC Tier determinations (i.e., whether a property is in a Tier 1, 2, 3 or 4 TOC incentive area) and has found numerous mistakes in its current TOC map and on...more

Sheppard Mullin Richter & Hampton LLP

Battle for Rent Control May Not be Over

In the months leading to the election, cities and counties began to adopt resolutions and other measures to advance potential rent control measures. In Los Angeles, the City Council approved a Resolution in support of...more

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