Qualified Opportunity Zone Fund Investments
The American Southwest is experiencing a notable shift in its approach to addressing affordable housing shortages. California, Nevada, and Arizona are exploring and debating various zoning relief measures to incentivize...more
Governor Gavin Newsom on Tuesday signed two new bills that aim to boost housing supply and further address the state’s homelessness crisis....more
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
As affordable housing has continued to be a topic of concern across the United States, states are evaluating ways to spur and support affordable housing development. In response to affordable housing needs, Alabama became the...more
The City of Denver adopted changes to its Expanding Housing Affordability (EHA) ordinances that extend the deadlines to receive final site development plan (SDP) approval in order to qualify for exemption from the EHA...more
Following the City and County of Denver’s (“City”) establishment of the Expanding Housing Affordability Ordinance (“EHA”), the City’s Department of Housing Stability (“HOST”) proposed a new policy focused on challenging...more
Two bills proposed to modify the Builder’s Remedy are currently making their way through the State Legislature. As currently proposed, AB 1893 (Wicks) would (i) reduce the required percentage of (lower income) affordable...more
The increased interest in installing solar at affordable housing projects is not surprising given that the IRC Section 48 energy investment tax credit (ITC) could subsidize as much as 70 percent of the cost and the Inflation...more
A roundup of news and multimedia from the Unfamiliar Terrain team: San Francisco - San Francisco’s Montgomery Street Could Signal a Downtown Revival (NY Times): Why a seven-block stretch of Montgomery Street, from the...more
On February 28, 2024, the Florida House of Representatives passed Senate Bill 328 (“SB 328”), previously unanimously approved by the Florida Senate by a vote of 112 to 1. SB 328, regarded as the Live Local Act 2024 (“LLA...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
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
Los Angeles Mayor Karen Bass last Wednesday announced a new executive order to reduce permitting time for housing by 25-30%, a move that could significantly expand housing production....more
The 2023 California Legislative session, like the last several, saw the enactment of a large number of significant new housing production laws. (See Holland & Knight's previous annual recaps of California Housing Laws in the...more
On Oct. 11, 2023, Gov. Gavin Newsom signed this year’s slate of housing bills to “incentivize and reduce barriers to housing and support the development of more affordable homes.” Among the 56 bills signed is AB 1287, the...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
A roundup of news and multimedia from the Unfamiliar Terrain team: San Francisco - These three new blocks of housing are among S.F.’s best. They’re for the formerly homeless (S.F. Chronicle): Exploring three recently...more
On September 5, the San Francisco Board of Supervisors finally passed on second reading two pieces of legislation, together referred to as the “Housing Fee Reform Plan.” The Plan, previously discussed on July 7, July 21, and...more
Background - On March 29, 2023, Governor Ron DeSantis signed Senate Bill 102, otherwise known as the Live Local Act (“LLA” or “Act”), into law, representing a large investment for housing efforts, one of the largest in...more
Texas Governor Greg Abbott (R) recently signed Texas House Bill (H.B.) 1058, making Texas at least the 28th state, plus the District of Columbia, to offer state low-income housing tax credits to bridge the growing affordable...more
Last month, leaders from various backgrounds in affordable housing—financiers, developers, architects, lawyers and designers—convened in Los Angeles for Bisnow’s Affordable Housing Summit to share insights and unique...more
Rhode Island joins 26 other states in offering state low-income housing tax credits to bridge the growing affordable housing gap in the United States. Rhode Island Governor Daniel McKee recently signed the FY24 RI Ready...more
The U.S. Department of the Treasury and IRS on May 31, 2023, released a Notice of Proposed Rulemaking (NPRM) regarding the low-income community bonus credit under Section 48 of the Internal Revenue Code. The NPRM requests...more
The moniker “affordable” and “workforce” housing can mean different things to different stakeholders. Most will agree that localities and states have recognized a need to provide reasonably priced homes for our workforce and...more
The Live Local Act (S.B. 102) incorporated relief from sales tax for building materials used in eligible residential units that have a recorded FHFC agreement. What Residential Units Qualify: An eligible residential unit...more