Qualified Opportunity Zone Fund Investments
The American Southwest is experiencing a notable shift in its approach to addressing affordable housing shortages. California, Nevada, and Arizona are exploring and debating various zoning relief measures to incentivize...more
As affordable housing has continued to be a topic of concern across the United States, states are evaluating ways to spur and support affordable housing development. In response to affordable housing needs, Alabama became the...more
A roundup of news and multimedia from the Unfamiliar Terrain team: San Francisco - San Francisco’s Montgomery Street Could Signal a Downtown Revival (NY Times): Why a seven-block stretch of Montgomery Street, from the...more
A U.S. Tax Court decision entered on Feb. 20, 2024, in 23rd Chelsea Associates LLC v. Commissioner of Internal Revenue held that bond issuance and related financing costs incurred in connection with the development of a...more
The Florida Legislature continues to modify the proposed changes to the Live Local Act (Act) through the latest version of Senate Bill 328 (SB 328), passed on February 7, 2024. For background on the original Act, see “Live...more
Legislation was recently introduced to the U.S. Senate and House of Representatives proposing the creation of the first-ever Workforce Housing Tax Credit (WHTC) for middle-income housing developments....more
As expected, within days of the opening day of the 2024 Legislative Session came two proposed “clarification glitch” bills containing several proposed amendments to the Live Local Act. Senate Bill 328, sponsored by Senator...more
Summary - The Baltimore City Council has passed a new inclusionary housing law which will require most new multifamily, market-rate projects to make at least 10% of their units available to households with limited incomes,...more
A roundup of news and multimedia from the Unfamiliar Terrain team: San Francisco - These three new blocks of housing are among S.F.’s best. They’re for the formerly homeless (S.F. Chronicle): Exploring three recently...more
Background - On March 29, 2023, Governor Ron DeSantis signed Senate Bill 102, otherwise known as the Live Local Act (“LLA” or “Act”), into law, representing a large investment for housing efforts, one of the largest in...more
Texas Governor Greg Abbott (R) recently signed Texas House Bill (H.B.) 1058, making Texas at least the 28th state, plus the District of Columbia, to offer state low-income housing tax credits to bridge the growing affordable...more
Rhode Island joins 26 other states in offering state low-income housing tax credits to bridge the growing affordable housing gap in the United States. Rhode Island Governor Daniel McKee recently signed the FY24 RI Ready...more
The availability of “affordable housing” has become a major issue in many cities, counties and states across the United States, and South Carolina is no exception. To help address the affordable housing shortage, in 2020,...more
The moniker “affordable” and “workforce” housing can mean different things to different stakeholders. Most will agree that localities and states have recognized a need to provide reasonably priced homes for our workforce and...more
The Live Local Act (S.B. 102) incorporated relief from sales tax for building materials used in eligible residential units that have a recorded FHFC agreement. What Residential Units Qualify: An eligible residential unit...more
A roundup of news and multimedia from the Unfamiliar Terrain team: San Francisco - S.F. housing production slows to crawl as state goals loom (San Francisco Chronicle): The Planning Department’s annual housing...more
On March 29, 2023, Governor Ron DeSantis signed into law Senate Bill 102 (Live Local Act) that becomes effective July 1, 2023. The Live Local Act, among other things, seeks to provide available and affordable housing to the...more
On March 29, 2023, Governor Ron DeSantis signed Senate Bill 102, otherwise known as the Live Local Act, into law, representing the largest investment for housing efforts in Florida history. For your convenience we have...more
Governor Ron DeSantis signed into law Senate Bill 102 (“Live Local Act” or the “Act”) on March 28, 2023. The majority of the Live Local Act will go into effect on July 1, 2023, with certain provisions pertaining to tax...more
Senate Bill 35 (SB 35) was one of the most promising bills to come out of a package of housing-related laws enacted by the California legislature in 2017. SB 35 authorized a potentially powerful procedure for reviewing...more
Part 2: California Laws Impacting Public Agencies for 2020 - How do the laws passed last year by California lawmakers impact how public agencies do business in the new year? In this annual Legal Alert series, Best Best &...more
Focus - Investors and bond-rating analysts are working to quantify risks from climate change - Urban Land – September 20 - Real estate investors and analysts who rate local government bonds already are grappling with...more
We have extensively written about how public-private partnerships (“P3s”) offer better, more efficient solutions to public infrastructure needs, and about how, given their effectiveness, they’ve become a preferred method for...more
A number of questions have arisen concerning the impact of the recently adopted Housing Stability and Tenant Protection Act of 2019 (HSTPA) on the Section 421-a Tax Exemption Program. HSTPA (Chapter 36 of the Laws of 2019)...more
In the last twelve months, four national public-private partnerships (“P3s”) have been financed in the U.S. private placement market, accounting for over $800 million in project cost financing....more