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New York Gov. Kathy Hochul recently signed into law the Affordable Housing Retention Act (AHRA), which for the next four years enables condo conversions of specific buildings in New York City with a presale requirement for...more
As an owner or tenant, dealing with real estate has been one of the most significant challenges facing nonprofits during the pandemic. The recently signed SB91 extends California’s residential eviction moratorium to June 30,...more
What is the Paycheck Protection Program? The Paycheck Protection Program (“PPP”) is a loan program created by the federal CARES Act, which authorized $349 billion in forgivable loans to nonprofits, among other business...more
As income streams are interrupted due to loss of rents in the midst of business closures during the continuing pandemic, many borrowers are reaching out to their lenders to discuss debt service and other relief under their...more
As discussed in prior updates, lawmakers in New York previously introduced bills that would, if enacted, temporarily suspend rent payments for certain residential and small business commercial tenants unable to pay rent due...more
On April 6, 2020, Governor Doug Ducey issued Executive Order 2020-21, “Prohibiting Small Business Evictions,” which delays commercial eviction actions against certain small businesses and nonprofit organizations until May 31,...more