News & Analysis as of

Community Development Coronavirus/COVID-19

Orrick, Herrington & Sutcliffe LLP

Treasury awards $1.73 billion to improve access to capital and financial services in underserved communities

On April 10, Vice President Kamala Harris and Deputy Secretary of the Treasury Wally Adeyemo announced that the U.S. Treasury Department’s Community Development Financial Institutions (CDFIs) Fund has awarded more than $1.73...more

McGuireWoods Consulting

American Rescue Plan Implementation - November 2021

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State Actions on Coronavirus Relief Funds | American Rescue Plan Overview - On March 10, 2021, Congress passed President Biden’s stimulus and COVID-19 relief package, the American Rescue Plan (ARP). The $1.9 trillion...more

McGuireWoods Consulting

American Rescue Plan Implementation - September 2021 #2

State Actions on Coronavirus Relief Funds | American Rescue Plan Overview - On March 10, 2021, Congress passed President Biden’s stimulus and COVID-19 relief package, the American Rescue Plan (ARP). The $1.9 trillion...more

Goodwin

House Votes to Repeal OCC True Lender Rule

Goodwin on

In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more

Greenbaum, Rowe, Smith & Davis LLP

The New Jersey Economic Recovery Act Of 2020: An Overview Of The Food Desert Relief Program (RFI Responses Due Monday, April 12)

The New Jersey Economic Recovery Act of 2020 (ERA), a seven-year, $14 billion package of incentive programs intended to encourage New Jersey job growth, property development and redevelopment, community partnerships, and...more

Cozen O'Connor

The American Rescue Plan’s Impact on New York State and City Government, Businesses, and Nonprofits

Cozen O'Connor on

On March 11, 2021, President Joe Biden signed the American Rescue Plan (ARP) into law. This historic $1.9 trillion COVID relief plan will have a major impact on the country by providing relief to businesses, nonprofit...more

Greenbaum, Rowe, Smith & Davis LLP

The New Jersey Economic Recovery Act Of 2020: An Overview Of The Main Street Recovery Finance Program

The New Jersey Economic Recovery Act of 2020, a seven-year, $14 billion package of incentive programs intended to encourage New Jersey job growth, property development and redevelopment, community partnerships, and numerous...more

Polsinelli

House Moves Forward on President Biden’s COVID-19 Stimulus Plan

Polsinelli on

Earlier this month, the House and Senate approved a fiscal 2021 budget resolution (S. Con. Res. 5), directing committees to use the budget reconciliation process to draft COVID-19 relief legislation consistent with President...more

Downs Rachlin Martin PLLC

Vermont Legislative Update 02-05-2021 - An analysis from DRM's Government & Public Affairs Team

Project based TIFs would expand rural redevelopment - The Senate Committee on Economic Development, Housing and General Affairs is considering S.33, a bill that would allow more towns to apply for project-based tax...more

Sullivan & Worcester

Internal Revenue Service Provides Additional COVID-19 Related Relief for Opportunity Zones Investors

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On January 19, 2021, the Internal Revenue Service (“IRS”) issued Notice 2021-10 (the “Notice”), which provides relief for Opportunity Fund investors from certain deadlines and testing requirements. The relief provided by the...more

Kramer Levin Naftalis & Frankel LLP

The Governor’s Proposed Commercial Conversion Initiative

On Jan. 19, 2021, Governor Andrew M. Cuomo proposed an amendment to Section 277 of the New York State Multiple Dwelling Law (MDL) that would “authorize flexibility in zoning to address high commercial vacancy rates and...more

Morgan Lewis

IRS Extends Previously Issued Relief to Qualified Opportunity Funds and Their Investors

Morgan Lewis on

The Internal Revenue Service (IRS) issued Notice 2021-10 on January 19, which extends relief to Qualified Opportunity Funds (QOFs) and their investors as a response to continued challenges brought on by the COVID-19 pandemic....more

Polsinelli

Opportunity Zone Deadlines Extended By COVID-19 Disaster Declarations (UPDATED)

Polsinelli on

On January 19, 2021, the IRS published guidance in Notice 2021-10, extending critical deadlines and rules relating to investments in qualified opportunity zones. First, any investors facing a deadline between April 1, 2020,...more

Nutter McClennen & Fish LLP

Special Edition Nutter Bank Report: COVID-19 Relief in the Consolidated Appropriations Act, 2021

A long-awaited bipartisan stimulus bill was signed into law by President Trump on December 27, 2020. Included in the law, known as the Consolidated Appropriations Act, 2021 (the “Act”), are economic stimulus measures and a...more

Clark Hill PLC

Congress Nears Finish Line of New COVID-19 Relief Bill

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As of Dec. 21, the new relief package will provide direct payments to citizens, extends expanded unemployment benefits, provides assistance for schools and medical facilities, and more. Our Government and Regulatory...more

Lowndes

COVID Impacts Senior Housing Construction

Lowndes on

The impact of the COVID-19 Coronavirus is not limited to making it harder to sell a senior living community due to nervous buyers and lenders (although we are seeing a thaw).  Senior Housing News reports that it has also...more

Pullman & Comley, LLC

Connecticut CARES Small Business Grant Program Created to Help Small Businesses and Non-Profits

Pullman & Comley, LLC on

Governor Ned Lamont recently announced the creation of the $50 million Connecticut CARES Small Business Grant Program (the “CT Cares Grant Program”) to assist eligible small businesses and non-profits recover from the ongoing...more

Pierce Atwood LLP

Real Estate Development in the Time of Coronavirus: Massachusetts – Update – October 2020

Pierce Atwood LLP on

NEW GUIDANCE ON PUBLIC HEARINGS ON HOUSING PROPOSALS - The Massachusetts Department of Housing & Community Development (DHCD) recently issued guidance for municipalities regarding housing development. This guidance...more

Ballard Spahr LLP

Philadelphia Zoning, Land Use, and Construction COVID-19 Update - October 2020

Ballard Spahr LLP on

The Ballard Spahr Zoning and Land Use Team is continuing to monitor all aspects of the Philadelphia land use approval process during the COVID-19 emergency, including the issuance of zoning and building permits, regulation of...more

Vinson & Elkins LLP

The Pandemic Lessons: The Future Of ESG And How It Will Define Business Success

Vinson & Elkins LLP on

The rapidly increasing importance of a company’s environmental, social and governance (ESG) performance to its business value, has been a critical trend leading into 2020. This trend was accelerated by the COVID-19 pandemic,...more

Ballard Spahr LLP

Philadelphia Zoning, Land Use, and Construction COVID-19 Update - September 2020

Ballard Spahr LLP on

The Ballard Spahr Zoning and Land Use Team is continuing to monitor all aspects of the Philadelphia land use approval process during the COVID-19 emergency, including the issuance of zoning and building permits, regulation of...more

(ACOEL) | American College of Environmental...

Hats Off to the Green New Dealers

Watching the U.S. government botch the response to the pandemic may deepen pessimism about our prospects for meaningful action to prevent catastrophic climate change. But multiple failures in foresight and management of a...more

Farella Braun + Martel LLP

Treasury Grants Relief to Opportunity Zone Investors in Light of Coronavirus Pandemic

The Tax Cuts and Jobs Act created opportunity zones as an economic development tool to stimulate investments in distressed communities. This tool extends tax advantages to investors in qualified opportunity funds, provided...more

Ballard Spahr LLP

The OCC’s CRA Final Rule: Changes And Highlights

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On May 20, 2020, the OCC issued a final rule to “strengthen and modernize” its existing Community Reinvestment Act (“CRA”) regulations. This is the second in a series of five blog posts about the final rule....more

Carlton Fields

WEBINAR: Is the CARES Act Caring Enough?

Carlton Fields on

For the summer 2020 meeting of our Community & Development series, leaders in the banking, accounting, and legal industries discussed the initial impact of the CARES Act and the Paycheck Protection Program (PPP), the...more

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