Finance & Banking Environmental Commercial Real Estate

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Protecting Lenders from Environmental Liability for Foreclosed Properties

Readers may recall an earlier blog post regarding a bank’s potential liability for damage to private property caused by a tree falling onto a neighbor’s property. In addition to property damage from obvious unsafe...more

IRS Issues Proposed Rules on Income Inclusion under Section 50(d)(5)

The IRS just published long-awaited temporary regulations under section 1.50-1T governing the section 50(d)(5) income inclusion rules. These rules apply to lessees of investment credit property when the lessor elects to treat...more

West Coast Real Estate Update: June 2016 #2

LACMTA Approves Tax Ballot Measure to Fund $120 Billion Transit Plan - The Los Angeles County Metropolitan Transportation Authority (LACTMA) on June 24, 2016, approved a sales tax ballot measure to help fund $120 billion...more

EPA Brownfields Site Planning Grants

The U.S. Environmental Protection Agency has posted a Request for Proposals (RFP) for Fiscal Year 2017 Brownfields Area-Wide Planning program grants. With estimated funding of $4 million and a maximum grant amount of...more

Why You Should Continue to Pay Attention to PACE

With commercial property owners and tenants still seeking sustainable building designs that incorporate energy efficiency or green building features, Property Accessed Clean Energy (PACE) financing will continue to rightfully...more

Compliance Audits as part of Environmental Due Diligence - It’s more than just a Phase

When Borrowers and their lenders think about environmental due diligence, they immediately focus on Phase I/Phase II/ Environmental Site Assessments. That’s a good thing, and is an essential requirement when acquiring real...more

CDFA Creates New Brownfields Project Marketplace to Advise on Projects and Financing Resources --- Online Marketplace Scheduled...

The Council of Development Finance Agencies (“CDFA”), a national association dedicated to the advancement of development finance concerns and interests, announced the creation of the Brownfields Project Marketplace...more

New Kansas Act Allows Relief for Purchase of Contaminated Property

On May 9, 2016, Kansas Governor Sam Brownback signed into law the Contaminated Property Redevelopment Act (the “Act”). The goal of this Act is to allow purchasers in Kansas to acquire real property with pre-existing...more

Recent Developments Affecting Property Assessed Clean Energy (PACE) Loans

New Jersey Governor’s Conditional Veto Restricts New Jersey PACE, Florida’s Supreme Court Expands State’s PACE Market, Congress Extends the Federal Investment Tax Credit and States Reduce Effectiveness of Net-Metering...more

The Shale Play Today: First Quarter 2016

The Best Protection - Safeguards in Purchasing Distressed Oil and Gas Assets - In the current environment of depressed prices for oil, natural gas and related liquids, oil and gas wells, leases and properties are coming...more

UK emissions reduction schemes – an update for property lenders

At the end of last year, we wrote about the energy efficiency schemes most relevant to property lenders. In this article, we set out the key developments in this area since then....more

Environmental Indemnities

It is not often that one discovers that a senior housing facility was once an oil exploration complex or the site of a former dry cleaner but it does happen, and while your company may get comfortable with the acquisition and...more

Law Amends Property Assessed Clean Energy (PACE) Programs in Virginia

On March 25, 2015, Virginia Governor Terry McAuliffe signed into law Chapter 389 of the 2015 Acts of Assembly (the Amendments). The Amendments modify Virginia's existing laws regarding property assessed clean energy (PACE)....more

USGS’s Increase of Texas’s Earthquake Risk Level: Commercial Real Estate and Insurance Implications

Before 2008, the greater Dallas Fort Worth area, known as the Fort Worth Basin, was almost entirely void of seismic activity. Between 1950 and 2008, the only seismic activity on record was an insignificant event that experts...more

Is Your Landfill or Other Wasting Asset Fairly Assessed?

Some assets, such as houses, art and collectibles, and investments appreciate in value over time; others, such as landfills, are considered “wasting assets,” as they have a finite life and little or no capital value at the...more

Coastal Flooding and Resiliency: New Challenges and Opportunities for the Commercial Real Estate and Finance Industry

Virginia, North Carolina and other mid-Atlantic coastal communities are no strangers to severe weather and related storm surges and flooding. However, many of these communities are experiencing storm surges and tidal and...more

How Does Contamination Impact “Fair Market Value”?

As California continues to expand and improve its infrastructure, public agencies are more frequently running into contaminated property. A frequent question for eminent domain attorneys is: “how does contamination impact...more

New York’s Green Bank Committing to Diverse Transactions

New York State’s one-billion-dollar Green Bank opened for business in 2014 and has begun committing to transactions. The Green Bank’s self-professed sweet spot is investments between $5 million and $50 million. Examples of...more

Environmental and Energy: Governor Vetoes Extension of Brownfield Cleanup Program Tax Credits (12/14)

On December 29, 2014, Governor Andrew Cuomo vetoed a bill that would have extended the availability of tax credits under New York State’s Brownfield Cleanup Program (BCP) until March 31, 2017....more

December 2014 - Real Estate FOUNDATION

In this issue - The CERCLA Divisibilty Defense: Back from the Dead? - Springing Recourse for Breach of Solvency and Debt Payment Covenants? Does New York Need Cherryland Legislation? - Mid-Construction...more

PACE Yourself

Property Assessed Clean Energy (PACE) loans allow property owners to finance clean energy improvements to their properties generally secured by property liens senior to mortgages through tax assessments. Moody’s recently...more

Grant Recipients Likely to Accept a 50 Percent Share of Cleanup Costs Under New Washington Grant Funding Rule

The new Department of Ecology (Ecology) grant funding rules, which are expected to go into effect in September 2014, will change the way grant recipients resolve contribution claims against other liable parties under the...more

Evaluating Environmental Risks in Real Estate Transactions

Evaluating environmental risks associated with real estate transactions is a standard, and often standardized, practice for sophisticated real estate practitioners. However, in light of several recent developments - the...more

Brownfield Legislation Passes 2014 Florida Legislative Session, Expanding Range of Redevelopment Tools

The Florida Legislature passed new Brownfield legislation in the 2014 legislative session that concluded in May 2014. The bill will be sent to Governor Rick Scott. If enacted into law, the legislation will expand the range of...more

Treasury Proposes REIT Solar Regulations but Excludes Most Common Transactions

On the same day as President Obama’s speech championing solar, the Department of the Treasury proposed regulations defining “real estate assets” for purposes of the definition of a real estate investment trust (REIT). The...more

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