Real Estate & Development Law Update

Category Archives: Economic Development

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Missouri implements additional requirement to qualify for MHDC project funding

By Sarah Icet Wilson on Posted in Corporate Real Estate, Economic Development

The Missouri Housing Development Commission (“MHCD”) recently established an additional condition that applicants must meet to qualify for MHDC funding on projects with more than six units.  This requirement is identified as the Emerging Business Initiative (the “Initiative”).  The intent behind the Initiative is to encourage involvement in MHDC funded projects by businesses certified as a… Continue Reading

Concentration of low-income housing tax credits called into question by ICP case

By Charles G. Renner on Posted in Economic Development, Real Estate Finance

During the economic downturn, while real estate development has been severely impacted, the demand for multi-family housing has remained strong, rising over 51% at one point late last year.  Within the multifamily market, one steady sector has been the development of low income housing supported by the use of Low Income Housing Tax Credits (LIHTC). … Continue Reading

Colorado’s Regional Tourism Act utilizes tax subsidies to generate economic development

By Jennifer Haynes on Posted in Economic Development, Hospitality, Real Estate Finance

Given the current economic climate, the proposed Gaylord Rockies Resort and Conference Center has sparked recent debate regarding the use of tax subsidies to help fund private development. As part of the project’s financing, the City of Aurora has submitted an application to the Colorado Economic Development Commission on behalf of Gaylord requesting $85.4 million in… Continue Reading

Analysis of FEMA’s mapping procedures for de-accredited levees

By Phillip J. F. Geheb on Posted in Economic Development, Levees and Flood Control

As previously reported, on December 15, 2011 FEMA released its revised mapping procedures for de-accredited levee systems, the comment period for which expired on January 30, 2012. Many communities, engineering companies, and other commentators submitted comments which can be accessed at Federal Rulemaking Portal and the National Flood Insurance Program Levees Comment website. The new guidelines are a positive… Continue Reading

IRS Determines Sale of State Tax Credits are Taxable

By Matthew D. Guymon and David Richardson on Posted in Economic Development, Real Estate Finance

On November 25, 2011, the IRS released Chief Counsel Advice memorandum Number 201147024[pdf], which states that the sale of certain Massachusetts state tax credits from the original recipient (the “Taxpayer”) to a third party (the “Recipient”) creates a taxable event for both the Taxpayer and the Recipient. While the Memorandum only applies to Massachusetts state tax credits, the… Continue Reading

New Denver Real Estate Attorneys bring Hospitality and Senior Housing Expertise to Husch Blackwell

By Kevin Catalano on Posted in Economic Development, Hospitality, Senior Housing

Reprinted with the permission of the Colorado Real Estate Journal When it comes to baseball parks, ski resorts, multimillion-dollar land development projects and other high-end real estate, the Denver attorneys with Husch Blackwell LLP have been in the thick of many deals. Their heritage includes big-name sports teams such as the Colorado Rockies and San… Continue Reading

Missouri General Assembly Fails to Pass Economic Development Bill in Special Session

By Sarah Icet Wilson on Posted in Economic Development, Legislation

As we previously reported, the Missouri General Assembly was called into Special Session by Governor Nixon and soon ran into trouble.  The special session came to an end on October 25, 2011 after the Senate adjourned without appointing a date to reassemble.  Governor Nixon had identified numerous issues regarding economic development to be addressed during… Continue Reading

Making Historic Preservation a Federal Priority: Comparing the Federal Historic Preservation Program Task Force Recommendations and the National Park Service’s Second Century Plan

By Sarah Davis on Posted in Economic Development, Real Estate Finance

In the face of numerous federal legislative efforts and budget plans proposing to cut or modify the Federal Rehabilitation Tax Credit Program (the “FRTC Program”), the Federal Historic Preservation Task Force (the “Task Force”), in its report released August 11, 2011, provides recommendations for strengthening the Federal Historic Preservation Program (the “FHP Program”) that houses… Continue Reading

Utilizing Economic Incentives: Top 10 Factors to Consider for Large and Small Projects

By Frans von Kaenel on Posted in Corporate Real Estate, Economic Development

Economic incentives, or entitlements, are a significant component of state and local economic development strategy.  The use of incentives to stimulate economic activity has both proponents and detractors.  Nevertheless, any company experiencing growth, undertaking an expansion or considering a relocation project should consider tapping economic incentives to reduce costs. An economic incentive is a benefit… Continue Reading

“Show-Me” the money? New hope for compromise on economic development incentives in the Special Session of the Missouri General Assembly

By Ernesto Segura on Posted in Economic Development, Legislation

Last month, we told you that Missouri Gov. Jay Nixon had called for a special legislative session of the Missouri General Assembly to focus on job creation and the passage of an omnibus economic development bill.  Despite the announced compromise that precipitated the special session, the House and Senate have been unable to work together… Continue Reading