News & Analysis as of

Real Estate Development Low Income Housing

Ballard Spahr LLP

Innovative Zoning Strategies: Addressing Affordable Housing Shortages

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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

Allen Matkins

Sustainable Development and Land Use Update - 8.29.24

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Governor Gavin Newsom on Tuesday signed two new bills that aim to boost housing supply and further address the state’s homelessness crisis....more

Allen Matkins

Sustainable Development and Land Use Update 7.11.24

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The Assembly Select Committee on Permitting Reform held its first hearing on June 18, 2024, commencing its efforts to address California’s housing and climate crises by reforming the state’s land use permitting regime....more

Polsinelli

Alabama To Offer State Tax Credit for Federal 4% LIHTC Projects

Polsinelli on

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

Brownstein Hyatt Farber Schreck

Denver City Council Approves Extension to Exemption Deadlines Under EHA

The City of Denver adopted changes to its Expanding Housing Affordability (EHA) ordinances that extend the deadlines to receive final site development plan (SDP) approval in order to qualify for exemption from the EHA...more

Allen Matkins

Sustainable Development and Land Use Update 4.04.24

Allen Matkins on

Two bills proposed to modify the Builder’s Remedy are currently making their way through the State Legislature. As currently proposed, AB 1893 (Wicks) would (i) reduce the required percentage of (lower income) affordable...more

Akerman LLP

Maximizing Tax Credits by Installing Solar at LIHTC Projects

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The increased interest in installing solar at affordable housing projects is not surprising given that the IRC Section 48 energy investment tax credit (ITC) could subsidize as much as 70 percent of the cost and the Inflation...more

Coblentz Patch Duffy & Bass

What We're Reading, Watching, and Listening To: March 2024

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

Holland & Knight LLP

U.S. Tax Court Holds Bond Financing Costs Are Includible in LIHTC Basis

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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

Bilzin Sumberg

Live Local Act 2024 Passed by the Florida Legislature

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On February 28, 2024, the Florida House of Representatives passed Senate Bill 328 (“SB 328”), previously unanimously approved by the Florida Senate by a vote of 112 to 1. SB 328, regarded as the Live Local Act 2024 (“LLA...more

Lowndes

Live Local Act: Proposed New Language Protects Early Applicants

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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

Pillsbury - Gravel2Gavel Construction & Real...

Bill Proposes First-Ever Federal Workforce Housing Tax Credit for Middle-Class Housing

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

Bilzin Sumberg

Live Local Act Glitch Bill

Bilzin Sumberg on

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

Ballard Spahr LLP

New Inclusionary Housing Mandates for Baltimore City

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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

Allen Matkins

Sustainable Development and Land Use Update 11.15.23

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Los Angeles Mayor Karen Bass last Wednesday announced a new executive order to reduce permitting time for housing by 25-30%, a move that could significantly expand housing production....more

Holland & Knight LLP

California's 2024 Housing Laws: What You Need to Know

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The 2023 California Legislative session, like the last several, saw the enactment of a large number of significant new housing production laws. (See Holland & Knight's previous annual recaps of California Housing Laws in the...more

Brownstein Hyatt Farber Schreck

Missing Middle: Governor Signs Bill to Bolster Middle-Income Housing

On Oct. 11, 2023, Gov. Gavin Newsom signed this year’s slate of housing bills to “incentivize and reduce barriers to housing and support the development of more affordable homes.” Among the 56 bills signed is AB 1287, the...more

Butler Snow LLP

2023 Texas Legislative Updates to Low Income Housing Tax Credit Developments

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During the 88th Regular Session, the Texas Legislature passed H.B. 1058 creating a state low-income housing tax credit program. The program will be administered by the Texas Department of Housing & Community Affairs (TDHCA)...more

Coblentz Patch Duffy & Bass

What We're Reading, Watching, and Listening To: September 2023

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

Coblentz Patch Duffy & Bass

San Francisco’s “Housing Fee Reform Plan” Passes at Board of Supervisors, Awaits Mayor’s Signature

On September 5, the San Francisco Board of Supervisors finally passed on second reading two pieces of legislation, together referred to as the “Housing Fee Reform Plan.” The Plan, previously discussed on July 7, July 21, and...more

Burr & Forman

Live Local Act Makes It Easier to Develop Affordable Housing in FL

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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

Sheppard Mullin Richter & Hampton LLP

Los Angeles Mayor Signs New Legislation Exempting Affordable Housing Projects from Site Plan Review

On July 6, 2023, Los Angeles Mayor Karen Bass signed into law a provision to exempt certain affordable housing projects from the city’s Site Plan Review Process. The exemption was made as an amendment to Site Plan Review...more

Polsinelli

Texas Offers State Low-Income Housing Tax Credits

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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

Greenbaum, Rowe, Smith & Davis LLP

An Overview of Amendments to the New Jersey Aspire Program

What You Need to Know- •The New Jersey Aspire Program has been amended to incentivize developers seeking to close project financing gap costs associated with commercial, mixed use, and residential real estate development...more

Brownstein Hyatt Farber Schreck

Takeaways from the Bisnow Affordable Housing Summit

Last month, leaders from various backgrounds in affordable housing—financiers, developers, architects, lawyers and designers—convened in Los Angeles for Bisnow’s Affordable Housing Summit to share insights and unique...more

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