Calculating IDA Benefits

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Many times, the acquisition and development of commercial properties involve a local Industrial Development Agency (IDA), which provides financial assistance to the purchaser. Timing of the entrance of the IDA into the transaction may substantially affect the transaction costs to the seller and the purchaser, particularly title insurance premiums. Real estate transfer taxes are also affected. It is important for counsel to keep this in mind in structuring the transaction so that transaction costs can be minimized.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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