Qualified Opportunity Zone Fund Investments
Over its nearly 40-year history, the federal low income housing tax credit (LIHTC) program has been both a success story and a target for various forms of fraud. The LIHTC program has been credited with facilitating the...more
In the last legislative session, the Philadelphia City Council passed several significant bills affecting real estate development and zoning, which are important for property owners and developers to understand....more
Throughout the first six months of 2025, proponents of tax-exempt bond financing feared that Congress might eliminate the exemption of interest on such bonds from federal income taxation in its search for spending reductions...more
Signed into law on July 4, 2025, the One Big Beautiful Bill Act (the "Act") permanently extends and modifies several cornerstone provisions of the Tax Cuts and Jobs Act of 2017, restores key business incentives, and makes...more
President Trump’s budget permanently extends numerous provisions of the Internal Revenue Code from the Tax Cuts and Jobs Act (TCJA) of 2017 scheduled to expire at the end of 2025 and includes several changes that will have...more
On July 3, 2025, the United States House of Representatives passed the final version of the One Big Beautiful Bill Act (the “Act”), which was subsequently signed into law by the President on July 4, 2025. ...more
Gov. Shapiro, State Leaders Condemn Weekend Arson Attack - Governor Josh Shapiro and his family were safely evacuated after a suspected arson attack on their residence early Sunday morning, prompting state and local leaders...more
Mayor Parker Unveils “Mission 30,000” Housing Plan - Mayor Cherelle Parker outlined her “Mission 30,000” plan to build, preserve, and repair 30,000 housing units in Philadelphia during the Chamber of Commerce for Greater...more
CHICAGO — Jobs Slightly Down Since Last Year, State Data Shows - The Chicago metro area experienced a 0.2% drop in non-farm jobs between November 2023 and November 2024. While private education, health services, and...more
SB 684, which took effect on July 1 of this year, provides for streamlined, ministerial processing of certain residential projects in multifamily zoning districts consisting of no more than 10 single-family homes. The law...more
The CFPB earlier this month filed suit against Horizon Card Services and its CEO and sole shareholder Robert Kane for allegedly tricking subprime consumers into signing up for a high-fee credit card that only allowed them to...more
On August 30, 2024, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued a notice of proposed rulemaking (the Proposed Regulations) regarding the new clean electricity low-income...more
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
In July 2024, Governor Greg Abbott announced that the Texas Department of Housing and Community Affairs (TDHCA) awarded over $95 million in housing tax credits to help finance the development and rehabilitation of more than...more
The Assembly Select Committee on Permitting Reform held its first hearing on June 18, 2024, commencing its efforts to address California’s housing and climate crises by reforming the state’s land use permitting regime....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
In the early hours of Thursday, June 6, Philadelphia City Council advanced Mayor Cherelle Parker’s proposed $6.37 billion FY25 Budget. The budget prioritizes public safety and quality-of-life improvement without raising...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
We continue to track important legislative and regulatory proposals and changes in the region. Our most recent prior Alert discussed rent control efforts in Maryland, changes to the Low Income Housing Tax Credit program,...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
Officials broke ground Monday on a new high-speed rail system that will connect Southern California and Las Vegas. The Brightline West system will average speeds of about 115 miles per hour and reach a top speed of around 200...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