Finance & Banking Construction

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Alert - City Increases Park/Quimby Fees for ALL Future Residential Buildings

As some of you are aware, the City Planning Department along with Parks and Recs have been pushing to increase the Quimby fees (Parks fees for new condo/for sale units) as well as to create new Park Fees for newly constructed...more

The New Italian Public Procurement Code

The Italian Council of Ministers approved a new Legislative Decree reforming the Italian Public Procurement regulation, implementing Directives 2014/23/EU, 2014/24/EU and 2014/24/EU. On April 18, 2016, the Italian...more

CFPB Amends Regulations J and L of Interstate Land Sales Full Disclosure Act to Allow Electronic Filings

On May 2, the CFPB announced that it is amending implementing Regulations J and L of the Interstate Land Sales Full Disclosure Act (ILSA) to permit electronic filings. Pursuant to ILSA, certain land developers must register...more

Construction Financing and Mechanics’ Liens in Connecticut

Bankers and other professionals who have worked on construction loans in states other than Connecticut will know how much of a pain it can be to make construction loan advances. You usually need to perform a title update and...more

Obligation to Perform Work and Incur Costs Under Construction Contract is a Section 752 Liability

In a recently issued Private Letter Ruling (PLR 201608001), the IRS determined that a taxpayer-partnership’s obligation to perform work and incur costs under a long-term construction contract constituted a partnership...more

Sales Tax Revenue Bonds Provide Critically Needed Transportation Funding Source

Funding transportation infrastructure in California is becoming increasingly difficult, as diminished gasoline taxes and other state and federal funding sources continue to be insufficient to provide fully for burgeoning...more

Turkey: Amendments to PPP legislation on way

The Republic of Turkey has been undergoing a largescale reform in the healthcare sector in the past decade, spearheaded by the Ministry of Health under its Health Transformation Program which was launched in 2003. The EUR 20...more

Real Estate in Africa: Eight things you need to know

Insight from CBRE/DLA Piper survey to help potential investors in African real estate bridge the gap between perception and reality Real estate markets in parts of Africa have undergone considerable improvement in...more

PHH Mortgage Attacks the CFPB: Will the Bureau Become a Commission?

On April 12, the U.S. Court of Appeals for the D.C. Circuit heard arguments in PHH Mortgage’s appeal of a $109,000,000 disgorgement order by the CFPB. The CFPB found PHH had illegally referred consumers to mortgage insurers...more

Davis-Bacon Act Not Applicable to D.C. Public-Private Partnerships

In a sharp rebuke to the Obama Administration's Department of Labor (DOL), a unanimous panel of the U.S. Court of Appeals for the District of Columbia Circuit has ruled that the Davis-Bacon Act does not require payment of...more

Miami-Dade County Takes P3 Reform Further After Florida Passes New P3 Legislation

After months in several Florida House and Senate committees, the State Legislature finally passed two related bills that were both signed by the Governor at the end of April. Importantly, the first bill, SB 124, establishes...more

Why less means more for PPPs & data – Keys to collecting the right information in Canada

PPP projects have the potential to generate huge amounts of data. In the context of a tolled highway project, for instance, a PPP contract may require the private operator to collect, in real time, information regarding...more

U.S. P3 Market is Ripe for Growth

With an aging infrastructure and government budgetary shortfalls, the public private partnership (“P3”) has evolved from novel, to an ever more viable option in order to finance civic projects. The larger and more complex the...more

Construction due diligence: Sooner is always better than later

Non-payment of receivables is an ongoing problem for contractors, subcontractors and material suppliers notwithstanding the strength or weakness of the economy. Having knowledge of one’s alternative available legal remedies...more

CHINA EXPANDS VAT REFORM TO NEW SECTORS

China's Premier Li Keqiang has announced, in the Annual Government Working Report to the National People's Congress, held in March that Value Added Tax ("VAT") reforms will be fully implemented and expanded from 1 May 2016 to...more

Recent Arizona Case Law and Legislative Developments Affecting Real Estate Lending

The following information accompany a presentation Mike gave to members of the Arizona Commercial Mortgage Lenders Association (ACMLA) on March 8, 2016. A summary of legislative amendments enacted during the most recent...more

One Year Later: Avoiding Unfavorable Risk Weighting of Acquisition, Development, and Construction Loans for Commercial Real Estate...

If the number of cranes visible on skylines of metropolitan areas such as Raleigh, Charlotte, and Atlanta are any indication of the resurgence of the commercial real estate (CRE) market for now, the resounding silence of so...more

West Coast Real Estate Update: March 2016 #2

FDIC Clarifies "Abandoned Foreclosures" Guidelines - The Federal Deposit Insurance Corporation (FDIC) clarified on March 2, 2016, its existing guidelines with respect to the decision by any FDIC-supervised institution to...more

A “FAIR” Chance for Infrastructure P3s in Obama Administration’s Final Budget Request - President Unveils Financing America’s...

In his final State of the Union address, President Obama acknowledged that “because it’s an election season, expectations for what we will achieve this year are low.” However, the Administration’s Fiscal Year 2017 budget...more

Real Estate Bulletin, February 2016

The Nutter Real Estate and Finance Group ended 2015 with a series of closings representing buyers, sellers, borrowers and lenders in commercial real estate transactions totaling more than $1 billion in aggregate value in...more

Effects on project finance loans of the new incentive replacing Green Certificates

The entry into force of Articles 19 and 30 of the Ministerial Decree 6 July 2012 (so-called FER Decree) with effect as from January 1, 2016, which replace the green certificates scheme with a new incentive, has an impact on...more

2016 Ontario Budget: C$160-Billion Boost to Infrastructure Paves Way for Job Creation

On February 25, 2016, the Ontario government (Province) released its 2016 budget, titled “Jobs for Today and Tomorrow” (Budget). The Budget focuses on economic growth and job creation across Ontario. Investments in...more

London-Based Global Building and Infrastructure Company Ordered to Pay £2.25 Million in First UK Section 7 Conviction

Following its December guilty plea in the UK, a London-based global building and infrastructure company on Friday was ordered by a UK court to pay £2.25 million (including a fine of £1.4 million) for violating Section 7 of...more

Financial information and set-off requirements under the FIDIC Red Book

The Privy Council’s recent judgment in NH International (Caribbean) Limited v National Insurance Property Development Company Limited (Trinidad and Tobago) provides a rare example of a common law court interpreting specific...more

Perspectives - February 2016

I Just Received Drafts of Construction Loan Documents from My Lender, Now What? I have heard the following statement many, many times over the course of my career: “Do I really need to hire an attorney to close a simple...more

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