Qualified Opportunity Zone Fund Investments
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
We continue to track important legislative and regulatory proposals and changes in the region. Our most recent prior Alert discussed rent control efforts in Maryland, changes to the Low Income Housing Tax Credit program,...more
The Florida Legislature continues to modify the proposed changes to the Live Local Act (Act) through the latest version of Senate Bill 328 (SB 328), passed on February 7, 2024. For background on the original Act, see “Live...more
Regulation of the multifamily industry appears to be continuing. Our most recent Alert discussed Maryland Governor Moore’s proposals for the Renters Rights and Housing Stabilization Act of 2024; rent control updates; our Rent...more
In response to a shortage of affordable middle-income housing in the United States, legislators recently introduced the Workforce Housing Tax Credit Act, which includes significant financial incentives for developers, to help...more
As a follow-up to our recent alert, here are some updates on regional and national legislative activity impacting real estate...more
Governor Newsom recently approved multiple state housing bills passed by the State Assembly and Senate. The following is a summary of a few of the key bills that are expected to benefit multi-family, mixed-income housing...more
On March 29, 2023, Governor Ron DeSantis signed into law Senate Bill 102 (Live Local Act) that becomes effective July 1, 2023. The Live Local Act, among other things, seeks to provide available and affordable housing to the...more
The Minnesota Legislature has been very busy this session, with an especially heightened amount of activity relating to housing; numerous bills have been introduced that would have a major impact on both market-rate and...more
On December 2, 2021, the Office of the Attorney General for the District of Columbia (OAG), filed four petitions with the Zoning Commission (ZC) to amend the Zoning Regulations as an effort to increase the supply of...more
Access to affordable housing remains a challenge in Virginia as in many states. During the 2021 General Assembly session, Virginia adopted a Low Income Housing Tax Credit and initiated several studies, including a deeper look...more
As New York City prepares to elect its new mayor, we are turning our attention to the top Democratic candidates and their positions on how to address affordable housing. While all of the candidates agree that affordable...more
Despite limited success for housing bills in the 2020 legislative session, 2021 should present opportunities for developers - Bullet Allen Matkins – December 21 - During the 2020 legislative session, many housing...more
Lawmakers weigh moratorium extension as eviction cliff looms - Palo Alto Online – December 8 - With California's eviction moratorium set to expire in less than 60 days and 2 million people at risk of losing their rental...more
With newly available federal money, the State of Iowa rolled out another program to provide rental assistance to Iowans and otherwise prevent homelessness by preventing imminent eviction. This newest program is targeted to...more
In 2017, the Tax Cuts and Jobs Act (the “Act”) added a third minimum set-aside option to qualify a project as a qualified low-income project pursuant to Code Section 42(g)(1)(C) - the Average Income Set-Aside. The Average...more
In the wake of the July 24 expiration of the 120-day moratorium on residential evictions in the Coronavirus Aid, Relief, and Economic Security (CARES), the U.S. Centers for Disease Control (CDC) issued an order (CDC order)...more
On Tuesday, September 1, the Trump administration announced an order, put forward by the Centers for Disease Control and Prevention, that claims to suspend residential evictions through the end of the year for many tenants...more
Back in 2019, I wrote a blog post discussing how allowing so-called “middle housing” – duplexes, triplexes, and quadruplexes – could help alleviate Portland’s affordable housing crisis. The more units you have on a piece of...more
The Texas Supreme Court has extended the moratorium on residential eviction procedures for CARES Act applicable residences until September 30, 2020, offering a few more weeks of relief to certain renters as the economic...more
South Carolina enacted a state low income housing tax credit on May 14, 2020... The South Carolina State Housing Finance and Development Authority (SC Housing) is required to issue an eligibility statement in order for a...more
On May 1, 2020, in Winston Affordable Housing, LLC v. Roberts, the North Carolina Supreme Court clarified the law surrounding a landlord's acceptance of rent after issuing a non-renewal notice because of the tenant's breach...more
LOCKOUTS Can I be locked out of my home during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106, which immediately suspends evictions throughout the state. This...more
If you are an owner or developer of affordable housing, we wanted to be sure you are aware of Florida Housing Finance Corporation’s (“FHFC”) Emergency Rule 67ER20-1, which creates incentives for owners of developments that do...more
To cut carbon emissions, a movement grows to ‘electrify everything’ - Yale Environment 360 – April 14 - On March 24, just before the city council of Santa Cruz passed an emergency measure to prevent evictions of...more