South Carolina Abandoned Building Incentives at Risk of Going Away
On July 17, 2024 I attended a webinar hosted by First American Title about the commercial real estate (CRE) market in transition. Here are some important takeaways. In the overall economy, inflation peaked in the summer of...more
CHICAGO — City Council to Consider Requiring Testing, Guidelines for City Government AI Tools- Chair of Chicago City Council’s Committee on Economic, Capital & Technology Development Gilbert Villegas (Ward 36) introduced a...more
During the height of the COVID-19 pandemic, offices, stores, and factories across the country were closed and shuttered. Those who could work from home did, while those who couldn’t collected unemployment and wondered if life...more
Following recent court decisions, the options available to an owner of empty business premises to avoid a liability for empty property rates have been reduced. This matters because no rates are payable for the first...more
While abandoned and blighted properties have always been a concern, the harsh economic impact that COVID-19 has had on neighborhoods has exacerbated the conditions surrounding these struggling properties. Prior to the...more
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
For mixed-use multifamily/commercial buildings, ground floor retail is often sought by urban and city planners to serve the residential uses above and in the surrounding neighborhood, while endeavoring to activate the street...more
The two taxes in England on the occupation of property are non-domestic rating and, for domestic rating, council tax. Pre COVID, business rates yielded £30bn and council tax £36bn annually. Rates are payable on business...more
Two federal enterprises who purchase and securitize mortgages, Fannie Mae and Freddie Mac, along with three federal agencies who make, guarantee, and insure mortgage loans, the Department of Housing and Urban Development...more
Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, PL 116-136, enacted March 27, 2020, a federally backed mortgage loan was subject to a foreclosure moratorium from March 18, 2020, through May 17, 2020....more