News & Analysis as of

Redevelopment Strikes Back

After several failed attempts in previous years, the Legislature passed and the Governor signed AB 2 (Alejo) on September 22, 2015. (Stats. 2015, ch. 319.) AB 2 authorizes a new structure for tax increment financing—the...more

SB 107 Brings Significant Changes to Redevelopment Dissolution Law

New Law Includes Dec. 31 Deadline for Agencies with Outstanding Payments Due under a Due Diligence Review - After several attempts, the California Department of Finance successfully pushed forward new legislation to...more

Appellate Court Upholds TIF District Levy and Collection of Taxes

The Illinois Appellate Court recently upheld the actions of a city council in its establishment and implementation of a TIF district (Devyn Corp. v. City of Bloomington). In this case, the Court addressed the adequacy of a...more

Illinois Court Upholds TIF District Levy and Collection of Taxes

An Illinois Appellate Court recently upheld the actions of a city council in its establishment and implementation of a TIF district through the Tax Increment Allocation Redevelopment Act, (Devyn Corp v. City of Bloomington)....more

Redevelopment 2.0... This Time for Real!

AB 2 Appears to be the Long-Awaited Redevelopment Replacement Law - Since the demise of redevelopment in 2012, and the assurance of a “replacement” by Gov. Jerry Brown, we have been waiting. We saw valiant efforts by...more

Governor Signs AB2 Allowing for a New Tool to Combat Blight in Disadvantaged Communities

After rejecting earlier attempts to revive redevelopment, Governor Jerry Brown signed Assembly Bill 2 on September 22, 2015, creating a new process to allow local governments to address blight in economically disadvantaged...more

Licensed to Fill: NJDEP Makes Virgin Material More Attractive for SRP Sites

The New Jersey Department of Environmental Protection (NJDEP) recently renamed and revised its clean fill guidance, which now makes it clear that fill material obtained from a licensed quarry or mine may be used for site...more

Is it the End of the Story for Redevelopment in California?

Long, long ago (in 2012 to be exact) in a land not so far away (also known as California), legislation which allowed local governments to establish redevelopment agencies tasked with eliminating blight through the...more

It’s Baaacckkkk…. Redevelopment Returns to California

We’ve been closely watching Assembly Bill 2 work its way through the legislature for most of 2015, and last week, it was finally signed by the Governor. What does it mean? You can find a detailed analysis by my partner,...more

Tax Increment Financing Implementation Changes Coming Soon

As many of you who are involved in developing projects in urban renewal or downtown development areas know, the principal method for financing such projects is tax increment financing (TIF). Tax increment financing is...more

Despite Delays, California Cities Moving Forward on Selling Redevelopment Properties

In the three years since California cities were forced to halt redevelopment projects, there is still much confusion as to how the process will proceed and how cities will deal with the sale of parcels, which range from...more

Real World - An Update from Dechert's London Finance and Real Estate Group July 2015: Liability for Empty Rates Where Property is...

The Court of Appeal has ruled that rates will be payable unless a vacant building is beyond economic repair. Liability for empty rates for empty properties is governed by the Local Government Finance Act 1988 (LGFA...more

Seeing Green: New York’s Reformed Brownfields Cleanup Program Creates Opportunities for Redevelopment to Generate Refundable Tax...

Now is the time to begin brownfield redevelopment projects in the State of New York. Reauthorization of and reforms to New York’s Brownfields Cleanup Program, which provides tax credits to redevelop contaminated properties,...more

CT Brownfield Program Fine Tuned – Music to Ears of Project Patrons

On July 2nd, Governor Malloy signed into law new legislation that fine tunes the existing Brownfield Development Program to address the realities of environmental redevelopment projects. The legislation seeks to ensure the...more

Main Street v. Hackensack: A Cure in the Redevelopment Area Process . . . but Still in Need of an Ounce of Prevention

Until the recent Supreme Court decision in 62-64 Main Street, L.L.C. v. Hackensack, 221 N.J. 129 (2015) (“Hackensack”), many municipalities and developers of redevelopment projects were concerned that if an existing area in...more

Proposed Extensions for Boston's Expiring Urban Renewal Plans

The Boston Redevelopment Authority (BRA) is considering 10-year extensions for 14 urban renewal plans, originally adopted in the 1960s and early 1970s, that cover approximately 10% of Boston’s land area. If the proposed...more

Redevelopment By Any Other Name Would Still Be Redevelopment…

It appears the state assembly is trying to get California back on the redevelopment wagon…again. (For a brief history lesson on redevelopment, see below.) Assembly Bill 2 (AB2), which passed the assembly earlier this month,...more

Enhanced Infrastructure Districts: A Flexible New Tool for Local Governments

After the dissolution of California redevelopment agencies (RDAs) in 2011, many local governments desired a tool to raise capital to invest in infrastructure and community revitalization. On September 29, 2014 SB 628 was...more

Phoenix Project: Atlantic City Can Rise From The Ashes

Most of the news from the Atlantic City Boardwalk over the last couple of years has not been promising. Several of the massive casino resort properties there have closed and/or slipped into bankruptcy, and the resale or...more

Stemming the Blight: New Jersey Supreme Court Affirms Eminent Domain Powers

The New Jersey Constitution provides for taking of blighted property for the purposes of development, redevelopment or to clear such property of blight. ...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

Pay-to-Play Lessons from New Jersey’s State Investment Council Rules

New Jersey is often thought of as the “pay-to-play” state – primarily because we have five separate statewide pay-to-play prohibition laws in effect (covering state procurement, county procurement, local procurement, state...more

BRA/EDIC Details Response to Audit

Under its newly-appointed director, Brian Golden, the Boston Redevelopment Authority and Economic Development and Industrial Corporation (BRA/EDIC) has released its 2014 Year in Review report entitled “Building the New Boston...more

Will 2015 be The Year for Pay-to-Play Reform in New Jersey?

New Jersey’s pay-to-play laws have been described as a “dizzyingly complex array of statutes, ordinances and executive orders.” New Jersey currently has different laws in effect that apply to State government contracts, State...more

Q&A: Why Land Redevelopment May Hit Big

Land redevelopment hasn’t always been a popular option, at least not with neighboring land owners. But that might be changing. Originally Published in - November 20, 2014....more

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