Headlines 1. Recent Bank Failures The FDIC has issued a final rule that will impose special assessments to recover the loss to the Deposit Insurance Fund (Fund) arising from the systemic risk determination announced on March...more
The FDIC recently approved a final rule to impose a special assessment on banks to recover losses in connection with the decision to guarantee uninsured deposits at two failed banks in March 2023. No banking organizations...more
Nine Republican AGs, led by Oklahoma AG Gentner Drummond, wrote a letter to the FDIC criticizing its proposed rule that would impose a special assessment on certain banking institutions to recoup the losses to the Deposit...more
FDIC Announces Special Assessments to Recover Losses from Recent Bank Failures The FDIC has issued a proposed rule that would impose special assessments to recover the loss to the Deposit Insurance Fund (Fund) arising from...more
The FDIC (Federal Deposit Insurance Corporation) is inviting public feedback on a proposed rule that aims to levy a special assessment on all banks with FDIC-insured deposits. Set to go into effect on January 1, 2024, the...more
Property Assessed Clean Energy (PACE) is a financing model that provides low-cost, long-term funding for eligible energy efficiency and renewable energy projects. PACE is a national initiative by the U.S. Department of...more
If you have considered living in or currently live in a community with a homeowners’ association (commonly referred to as an HOA) such as a condominium or complex of townhomes, you have likely heard of special assessments....more
Cities with a population of 15,500 or more now may specially assess for police and fire services under a new law, Public Act 228 of 2022, that becomes effective on March 28, 2023, that amends Act 33, Public Acts of...more
Compliance Today - December 2022 - We are at a critical moment of change when it comes to truly addressing health inequities in this country. With the intersection of environmental, social, and governance (ESG) reporting and...more
The Columbus Regional Energy Special Improvement District closed the State of Ohio’s first tax-exempt 501(c)(3) PACE financing on August 24, 2021. A first-of-its-kind financing, PACE special assessments were used as security...more
Surfside Collapse – what we know so far: On Thursday, June 24, 2021, at approximately 1:25 a.m., Champlain Towers South, a twelve-story beachfront condominium in the Miami suburb of Surfside, Florida, partially...more
The Michigan Court of Appeals recently held that assessments on a property under a development agreement between a city and the property's former owner did not survive a tax foreclosure and therefore were not liens against...more
Property Assessed Clean Energy (“PACE”) has been maturing into a distinct asset class over the last decade. Foley has been involved in PACE since its early days, from highlighting the three early models program developers...more
The start of a new year frequently includes new or updated statutes, and South Carolina is no exception. 2021 brings an update to South Carolina rollback tax laws, with potentially significant implications for real estate...more
As hospitals and healthcare facilities move toward an uneasy “new normal” and move to re-initiate services and procedures, accrediting organizations will also be ramping up their operations to pre-pandemic levels. However,...more
In United States v. Haverkamp, the Second Circuit (Sack, Parker, Chin) wrote a short decision that answered a single question: in a case in which a defendant is sentenced to pay an additional special assessment pursuant to...more
Calif. Appellate Court Holds These Liens Not Subject to Prop. 218 - California cities are authorized by statute to record special assessment liens on property for delinquent solid waste service fees, an appellate court has...more
Recently, the owner of the 24-story, 360,000-square-foot PNC Plaza office tower, which is located in downtown Columbus, Ohio, wanted to upgrade the energy efficiency of the building. ...more
In 1997, League City, Texas, created the League City Public Improvement District to fund improvements for the proposed master planned community of Magnolia Creek. Planned improvements included street lights, drainage...more
Seyfarth Synopsis: Employee committed to taking opioids loses his job and his disability discrimination lawsuit because he refused to consider alternative pain management. ...more
The Seattle Waterfront Project is waiting on a “special” study from the City of Seattle as plans proceed for the waterfront’s redevelopment. As outlined in Schwabe’s first article on this topic, the City has finished a...more
The Seattle Waterfront Project is a step closer in its plans for redevelopment, or at least a step closer in estimating a piece of its funding. Earlier this month, the City of Seattle received a feasibility study revealing...more
Seyfarth Synopsis: On August 1, Massachusetts Governor Charlie Baker signed into law a measure intended to help the state pay for the costs of the Commonwealth’s Medicaid program, referred to as MassHealth, which covers...more
In United States v. Libous, 15-3979 (2nd Cir. May 30, 2017) (Katzmann, Winter, Stein), the Second Circuit vacated the jury conviction of former New York State Senator Thomas W. Libous’ and remanded the case to the district...more
The Virginia Supreme Court issued one additional opinion in September affecting local government law, on September 22, 2016. This opinion addressed the priority to be given a local government special assessment lien over a...more