News & Analysis as of

Affordable Housing Property Tax

Goulston & Storrs PC

D.C. FY25 Budget Expands CRE Revitalization Initiatives

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The end of June saw the D.C. Council pass the Fiscal Year 2025 Budget Support Act of 2024 and the Fiscal Year 2025 Local Budget Act of 2024. The 2025 budget includes the “Central Washington Activation Conversion Program...more

Pullman & Comley - For What It May Be Worth

New Bill Requires Municipalities to Assess Affordable Housing Properties Based on Net Rental Income

The Connecticut General Assembly recently passed a bill requiring municipalities to assess properties used solely for low and moderate-income housing based on the capitalized value of their net rental income....more

Cole Schotz

Navigating the NYS 2024/2025 Executive Budget and Its Impact on NYC Multifamily Housing (Part 1 of 4)

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New York recently adopted the Affordable Neighborhoods for New Yorkers (ANNY) Tax Incentive and the Affordable Housing from Commercial Conversions (AHCC) Tax Incentive programs, as well as a host of other new and modified...more

Kohrman Jackson & Krantz LLP

Reshaping the Skyline: The Modernization of the City of Columbus Zoning Code

This month, the City of Columbus introduced a revolutionary proposal to modernize its 70-year-old zoning code. The initiative aims to address the city and the region’s rapid growth by strengthening housing, mobility, and...more

Cozen O'Connor

Cozen Cities - April 10, 2024

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CHICAGO — Gov. JB Pritzker Announces Plan to Make Chicago Quantum Technology Capital- Illinois Governor JB Pritzker announced a plan to make Chicago a quantum technology capital at M-Hub, a business incubator on Chicago’s...more

Best Best & Krieger LLP

A Well-Informed Start to 2024: BBK’s Guidance for New Laws in California – Housing Part Three

In the final part of the 2024 Housing New Law Guidance series from Best Best & Krieger LLP (BBK), we cover important new housing legislation related to fire safety, elections, post-entitlement phase permits, streamlined...more

Akerman LLP

D.C. Government Publishes Proposed Rules on Tax Abatements for Residential Conversions

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Washington D.C.’s Office of the Deputy Mayor for Planning and Economic Development (DMPED) released its proposed rules establishing how the D.C. government will implement the Housing in Downtown Tax Abatement program. A...more

Cozen O'Connor

Cozen Cities - February 14, 2024

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BOSTON — City Leading AI Industry- Boston-area companies are leading in the development of new artificial intelligence (AI) and managing data for AI use. A new report estimates that Boston’s expertise in tech and health...more

Tonkon Torp LLP

Are the Political Winds Changing in Portland for New Housing?

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On January 31, the Portland City Council passed its Housing Regulatory Relief package. This package, which had been approved by the City Planning Commission on a 7-1 vote in November, follows years of lobbying from the...more

Bilzin Sumberg

Live Local Act Glitch Bill

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As expected, within days of the opening day of the 2024 Legislative Session came two proposed “clarification glitch” bills containing several proposed amendments to the Live Local Act.  Senate Bill 328, sponsored by Senator...more

McCarter & English, LLP

A Look Ahead: Governor Murphy’s State of the State and the 221st New Jersey Legislature

New Jersey’s 221st Legislature is officially underway with yesterday’s swearing in of 37 new members (10 in the Senate and 27 in the General Assembly), followed by Governor Murphy’s annual State of the State Address....more

Allen Matkins

Sustainable Development and Land Use Update 1.05.24

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We previously published a legal alert on October 12, 2023, about the extensive housing package that Governor Gavin Newsom signed on October 11, 2023, consisting of 56 bills to help address California’s decades-in-the-making...more

Cozen O'Connor

Cozen Cities - January 3, 2024

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BALTIMORE — Mayor Scott, BDE Introduce Free Public Wi-Fi Network - In December, Mayor Brandon Scott and the City’s Office of Broadband and Digital Equity (BDE) launched FreeBmoreWiFi, a citywide free public Wi-Fi network....more

Cozen O'Connor

Cozen Cities - December 13, 2023

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BALTIMORE — New UpSurge CEO Bets on Baltimore, Tech Tech- entrepreneur Kory Bailey — who was recently named CEO of UpSurge, a nonprofit, professional ecosystem-building organization — spoke about his efforts to build a...more

Bilzin Sumberg

Florida Live Local Act Tax Exemption Guidance Officially Updated

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The Live Local Act provides a property tax exemption of up to 100% of the assessed value of a qualifying project’s units. In order to qualify, a project must contain at least 71 housing units, and must serve housing occupants...more

Cozen O'Connor

Cozen Cities - November 30, 2023

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Gig Economy & Technology- DETROIT — Electric Delivery Startup BrightDrop Becomes Part of GM- BrightDrop, a General Motors (GM) commercial electric vehicle startup formed in 2021, will no longer operate as a subsidiary and...more

Allen Matkins

Sustainable Development and Land Use Update 11.09.23

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The Biden administration is launching a multi-agency effort to encourage states and cities to convert more empty office buildings into housing units, with billions of federal dollars available to help spur such transitions....more

Cozen O'Connor

Cozen Cities - November 1, 2023

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Gig Economy & Technology- BALTIMORE — Baltimore Selected as Federal Tech Hub for AI, Biotechnology The Baltimore region has been awarded a federal designation as a national tech hub, which could generate hundreds of...more

Warner Norcross + Judd

New Brownfield Redevelopment Law Amendments in Michigan

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On July 18, 2023, Governor Gretchen Whitmer signed a series of bills that will dramatically update the state’s brownfield redevelopment laws to allow the use of tax increment financing for housing projects on brownfield sites...more

Cozen O'Connor

Cozen Cities - June 29, 2023

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DETROIT — Detroit Program Teaches Residents Tech Fundamentals, How to Find High-Paying Jobs- Durfee Innovation Society, the Detroit chapter of the national nonprofit NPower, gives participants the ability to create a...more

Husch Blackwell LLP

Texas Legislature Revises Law Governing Public Facility Corporations

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On June 18, 2023, HB 2071—the Texas legislature’s solution to perceived abuses of property tax incentives related to Public Facility Corporations (PFCs)—took effect. The law amends Local Government Code Chapter 303, which...more

Harris Beach PLLC

"Affordable Housing Rehabilitation Program” Expected to Replace J-51 Property Tax Abatement

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During the waning hours of the 2023 legislative session, New York lawmakers passed the Affordable Housing Rehabilitation Program (the “Program”) to replace the lapsed J-51 tax break that expired on July 1, 2022. Similar to...more

Winstead PC

Texas Legislature Approves HB 2071 Which Revises Public Facility Corporation Exemption for Affordable Housing

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The 88th Regular Session (2023) of the Texas Legislature approved HB 2071 (the "Bill"), which revises the way public facility corporations ("PFCs") can be utilized to own and operate affordable housing. Affordable housing is...more

Locke Lord LLP

‎2023 Changes to Texas Law: Property ‎Tax Exemption for Public Facility Corporations Owning ‎Affordable Housing

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The 88th Regular Session (2023) of the Texas Legislature approved HB 2071 (the “Bill”), substantially revising the way public facility corporations can be utilized to own and operate affordable housing. While some provisions...more

Shutts & Bowen LLP

Florida's Live Local Act

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The Live Local Act (SB 102) (the “Act”) amends multiple provisions of the Florida Statutes with the overarching purpose of spurring additional development of affordable housing in the State. Importantly, for qualifying...more

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