News & Analysis as of

Special Assessments

Nutter McClennen & Fish LLP

Nutter Bank Report: November 2023

Headlines 1. Recent Bank Failures The FDIC has issued a final rule that will impose special assessments to recover the loss to the Deposit Insurance Fund (Fund) arising from the systemic risk determination announced on March...more

Venable LLP

Uninsured Deposits and the FDIC Final Rule for Special Assessments on Banks

Venable LLP on

The FDIC recently approved a final rule to impose a special assessment on banks to recover losses in connection with the decision to guarantee uninsured deposits at two failed banks in March 2023. No banking organizations...more

Cozen O'Connor

Republican AGs Oppose FDIC’s Proposed Special Assessment to Recoup Bank Bailout Costs

Cozen O'Connor on

Nine Republican AGs, led by Oklahoma AG Gentner Drummond, wrote a letter to the FDIC criticizing its proposed rule that would impose a special assessment on certain banking institutions to recoup the losses to the Deposit...more

Nutter McClennen & Fish LLP

Nutter Bank Report: May 2023

FDIC Announces Special Assessments to Recover Losses from Recent Bank Failures The FDIC has issued a proposed rule that would impose special assessments to recover the loss to the Deposit Insurance Fund (Fund) arising from...more

Tucker Arensberg, P.C.

FDIC Seeks Public Input on a Proposed Assessment on Insured Banks to Raise More Than Fifteen Billion Dollars to Safeguard Deposits

Tucker Arensberg, P.C. on

The FDIC (Federal Deposit Insurance Corporation) is inviting public feedback on a proposed rule that aims to levy a special assessment on all banks with FDIC-insured deposits. Set to go into effect on January 1, 2024, the...more

Holland & Knight LLP

An Introduction to Property Assessed Clean Energy Financing

Holland & Knight LLP on

Property Assessed Clean Energy (PACE) is a financing model that provides low-cost, long-term funding for eligible energy efficiency and renewable energy projects. PACE is a national initiative by the U.S. Department of...more

Lasher Holzapfel Sperry & Ebberson PLLC

HOAs and Special Assessments: What to Know

If you have considered living in or currently live in a community with a homeowners’ association (commonly referred to as an HOA) such as a condominium or complex of townhomes, you have likely heard of special assessments....more

Miller Canfield

Michigan Law Expands Police and Fire Special Assessment Authority to More Cities

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​​​​​​​Cities with a population of 15,500 or more now may specially assess for police and fire services under a new law, Public Act 228 of 2022, that becomes effective on March 28, 2023, that amends Act 33, Public Acts of...more

Health Care Compliance Association (HCCA)

Compliance Today - December 2022. Intersection of ESG, health equity, and 501(r) compliance

Compliance Today - December 2022 - We are at a critical moment of change when it comes to truly addressing health inequities in this country. With the intersection of environmental, social, and governance (ESG) reporting and...more

Bricker Graydon LLP

Historic tax-exempt PACE financing for 501(c)(3) recovery center

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The Columbus Regional Energy Special Improvement District closed the State of Ohio’s first tax-exempt 501(c)(3) PACE financing on August 24, 2021. A first-of-its-kind financing, PACE special assessments were used as security...more

Buchalter

BEFORE THE WALLS COME CRUMBLIN’ DOWN: Lessons that Condo Associations Can Learn from Surfside, Florida Condominium Building...

Buchalter on

Surfside Collapse – what we know so far: On Thursday, June 24, 2021, at approximately 1:25 a.m., Champlain Towers South, a twelve-story beachfront condominium in the Miami suburb of Surfside, Florida, partially...more

Miller Canfield

Michigan Court of Appeals Holds That Development Agreement Obligations are Extinguished in Tax Foreclosure

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The Michigan Court of Appeals recently held that assessments on a property under a development agreement between a city and the property's former owner did not survive a tax foreclosure and therefore were not liens against...more

Foley & Lardner LLP

Spotlight on PACE: PACE Projects From Downtown Redevelopments to Dairy Farms

Foley & Lardner LLP on

Property Assessed Clean Energy (“PACE”) has been maturing into a distinct asset class over the last decade. Foley has been involved in PACE since its early days, from highlighting the three early models program developers...more

Burr & Forman

Rollback Taxes in South Carolina: Changes Effective January 1, 2021

Burr & Forman on

The start of a new year frequently includes new or updated statutes, and South Carolina is no exception. 2021 brings an update to South Carolina rollback tax laws, with potentially significant implications for real estate...more

McDermott Will & Emery

Heads Up, Hospitals! As COVID-19 Approaches a Steady State, Accrediting Organizations Are Going Back to Work, Too

As hospitals and healthcare facilities move toward an uneasy “new normal” and move to re-initiate services and procedures, accrediting organizations will also be ramping up their operations to pre-pandemic levels. However,...more

Patterson Belknap Webb & Tyler LLP

Circuit Offers Assessment of Special Assessment Issue

In United States v. Haverkamp, the Second Circuit (Sack, Parker, Chin) wrote a short decision that answered a single question: in a case in which a defendant is sentenced to pay an additional special assessment pursuant to...more

Best Best & Krieger LLP

Cities May Record Special Assessment Liens for Delinquent Fees

Calif. Appellate Court Holds These Liens Not Subject to Prop. 218 - California cities are authorized by statute to record special assessment liens on property for delinquent solid waste service fees, an appellate court has...more

Bricker Graydon LLP

PACE financing used for $3.3 million upgrade of downtown Columbus tower

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Recently, the owner of the 24-story, 360,000-square-foot PNC Plaza office tower, which is located in downtown Columbus, Ohio, wanted to upgrade the energy efficiency of the building. ...more

Bradley Arant Boult Cummings LLP

MHL Partnerships Appeals Victory Allows Developers and Builders to Seek Excess Funding Reimbursements - Texas Builders

In 1997, League City, Texas, created the League City Public Improvement District to fund improvements for the proposed master planned community of Magnolia Creek. Planned improvements included street lights, drainage...more

Seyfarth Shaw LLP

Employees Are ALSO Required To Engage In The Interactive Process Under The ADA

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Seyfarth Synopsis: Employee committed to taking opioids loses his job and his disability discrimination lawsuit because he refused to consider alternative pain management. ...more

Schwabe, Williamson & Wyatt PC

Seattle Waterfront’s Local Improvement District: Paying Special Attention to Stay Ahead

The Seattle Waterfront Project is waiting on a “special” study from the City of Seattle as plans proceed for the waterfront’s redevelopment. As outlined in Schwabe’s first article on this topic, the City has finished a...more

Schwabe, Williamson & Wyatt PC

Seattle Waterfront’s Local Improvement District: An Introduction

The Seattle Waterfront Project is a step closer in its plans for redevelopment, or at least a step closer in estimating a piece of its funding. Earlier this month, the City of Seattle received a feasibility study revealing...more

Seyfarth Shaw LLP

Massachusetts Temporarily Imposes Employer Assessments for the Commonwealth’s Medicaid Program

Seyfarth Shaw LLP on

Seyfarth Synopsis: On August 1, Massachusetts Governor Charlie Baker signed into law a measure intended to help the state pay for the costs of the Commonwealth’s Medicaid program, referred to as MassHealth, which covers...more

Patterson Belknap Webb & Tyler LLP

Til Death Do Us Part – Second Circuit Vacates Deceased Former New York State Senator’s Criminal Fine and Special Assessment under...

In United States v. Libous, 15-3979 (2nd Cir. May 30, 2017) (Katzmann, Winter, Stein), the Second Circuit vacated the jury conviction of former New York State Senator Thomas W. Libous’ and remanded the case to the district...more

Sands Anderson PC

Virginia Supreme Court Opinion Affecting Local Government Law: September 22, 2016

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The Virginia Supreme Court issued one additional opinion in September affecting local government law, on September 22, 2016. This opinion addressed the priority to be given a local government special assessment lien over a...more

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