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Low-Income Issues Rental Property

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

Lowndes

Orange County's AMI Jumps to $90,400 in 2024: What It Means for Affordable Housing

Lowndes on

The Department of Housing and Urban Development (HUD) recently announced the 2024 Area Median Income (AMI) and Rent Limits for counties statewide. These numbers are impactful on a number of levels, but are extremely important...more

Lowndes

Live Local Act: Proposed New Language Protects Early Applicants

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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

Morgan Lewis

US Senators and Representatives Propose Bipartisan Workforce Housing Tax Credit Act

Morgan Lewis on

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

Lerch, Early & Brewer

Months Later, Questions Remain for the Implementation of Rent Control in Montgomery County

Lerch, Early & Brewer on

New rent control legislation in Montgomery County (Rent Stabilization Bill (15-23)), signed into law by the County Executive on July 24, 2023 after a marathon legislative session, caps annual increases of base rent for...more

Cadwalader, Wickersham & Taft LLP

Gimme Shelter: But Cash Only, Please

A recent case addressed landlords’ refusal to accept Section 8 vouchers. The issue before the Court in People v. Commons W., 2023 N.Y. Slip Op. 23213, (N.Y. Sup. Ct. 2023) was whether New York’s source of income...more

Ballard Spahr LLP

HUD Releases Supplemental RAD Notice

Ballard Spahr LLP on

Summary - Recently, the U.S. Department of Housing and Urban Development (HUD) released its highly anticipated Supplement to the RAD Notice (Supplement), which makes a number of changes to the current Rental Assistance...more

Lowndes

Live Local Act Provides Affordable Housing Incentives, Bans Rent Control

Lowndes on

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

Tonkon Torp LLP

Creative Housing Solutions Pop Up Across Oregon

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Real estate attorney David Petersen talks housing solutions in this Ear to The Ground. Across the nation, residential rents continue to outpace wage growth, making housing less affordable for many. In 2022, the national...more

Tonkon Torp LLP

Creative Housing Solutions Pop Up Across Oregon

Tonkon Torp LLP on

Real estate attorney David Petersen talks housing solutions in this Ear to The Ground. Across the nation, residential rents continue to outpace wage growth, making housing less affordable for many. In 2022, the national...more

Coblentz Patch Duffy & Bass

Mayor Breed Issues Executive Directive to Address City’s Housing Crisis

In an Executive Directive dated February 7, 2023, Mayor London Breed declared that “San Francisco needs to fundamentally change how we approve and build housing.” The Directive, titled “Housing For All,” comes on the heels of...more

Allen Matkins

Sustainable Development and Land Use Update - November 2022 #3

Allen Matkins on

Rent control expands as tenants struggle with the record-high cost of housing - NPR – November 28 - In November, voters in Florida, Maine, and California approved ballot measures to impose or tighten caps on rent hikes....more

Goulston & Storrs PC

D.C. Zoning Commission Responds to Two of Attorney General’s Inclusionary Zoning Proposals

Goulston & Storrs PC on

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

Pullman & Comley, LLC

New Land Use and Zoning Legislation Affects Every Connecticut Municipality

Pullman & Comley, LLC on

All municipalities should be aware of the provisions of Public Act No. 21-29 and what changes it could bring to zoning in your town or city. Public Act 21-29 is part of the initiative to make housing in Connecticut more...more

Kramer Levin Naftalis & Frankel LLP

Hotel and Office Conversions — an Update

Since January 2021, multiple proposals were introduced in the New York State legislature to permit underutilized hotel and/or office buildings, many of which have become financially distressed due to the COVID-19 pandemic, to...more

Dentons

Bill preventing and striking down so-called source of income ordinances signed by Governor

Dentons on

United States: Under the new law, cities and counties cannot adopt or enforce ordinances that require landlords to accept federal housing vouchers. On Friday, April 30, Governor Reynolds signed into law SF252, a bill...more

Cozen O'Connor

Where do the Mayoral Candidates Stand on Affordable Housing?

Cozen O'Connor on

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

Miles & Stockbridge P.C.

Treasury Releases Average Income Set-Aside Proposed Regulations

Miles & Stockbridge P.C. on

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

Burr & Forman

South Carolina Housing Issues State Low Income Housing Tax Credit Policies

Burr & Forman on

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

Lewitt Hackman

When Your Single-Family Home May Not Be Exempt from Local Rent Control

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Many California cities (e.g., Los Angeles, Santa Monica, Oakland and San Francisco) have rent control laws that set limits on the amount of rent a landlord may charge a tenant. But not all rental properties are subject to...more

Bilzin Sumberg

Notice to Owners and Developers of Affordable Housing (FHFC Emergency Rule 67ER20-1)

Bilzin Sumberg on

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

Best Best & Krieger LLP

Cities Have Broad Discretion to Determine Their Rent Control Programs

Court of Appeal Holds Cities May Enact Various Forms of Residential Rent Control Measures - Cities can decide what rent control scheme to adopt and what base year to use for rent setting in drafting local rent control...more

Ballard Spahr LLP

Recent HUD COVID-19 Guidance Affecting PHAs and Multifamily Owners

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As public housing authorities (PHAs) and multifamily housing owners grapple with protecting their residents, employees and stakeholders amidst the COVID-19 outbreak, HUD has issued several pieces of guidance in recent days...more

Cozen O'Connor

Rent Control National Momentum

Cozen O'Connor on

In response to multiple news and industry reports that many urban areas in the United States are suffering a crisis in affordable housing, many states and cities are actively considering rent control as an ameliorative...more

Pierce Atwood LLP

Maine Enacts Affordable Housing Tax Credit

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On January 12, 2020, Governor Janet Mills signed L.D. 1645, establishing a Maine affordable housing tax credit (AHTC). The Maine State Housing Authority (MaineHousing) will be tasked with administering and allocating $80...more

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