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By Pillsbury's Construction & Real Estate Law Team Today, our colleagues Tom Morton and Emily Bias published their Client Alert titled Impacts of the Omnibus Spending Plan on the Affordable Housing Industry, Trump’s Omnibus Spending Plan adopts two key provisions from the proposed Affordable Housing Credit Improvement Act that will strengthen and expand low-income housing credit. [read post]
By Pillsbury's Construction & Real Estate Law Team In the wake of COVID-19, default rates for commercial real estate loans, including those supported by personal guaranties, will likely accelerate. [read post]
By Pillsbury's Construction & Real Estate Law Team With many struggling to make housing payments due to COVID-19, dues owed to multifamily condominium associations are likely to go unpaid—especially if homeowners feel deprived of the use of common areas, such as pools, gyms and playgrounds. [read post]
By Pillsbury's Construction & Real Estate Law Team The Department of Homeland Security has outlined 16 critical infrastructure sectors which represent the types of businesses that can remain operational during the COVID-19 pandemic. [read post]
By Pillsbury's Construction & Real Estate Law Team On May 13, 2020, proposed California Senate Bill No. 939 was amended to not only prohibit landlords from evicting commercial tenants during the pendency of the COVID-19 state of emergency, but to extend protections to certain qualifying tenants permitting express rent reduction negotiation rights and lease termination rights. [read post]
By Pillsbury's Construction & Real Estate Law Team In many cases, borrowers and lenders are working together to weather this crisis. [read post]
By Pillsbury's Construction & Real Estate Law Team The COVID-19 pandemic and the resulting economic turmoil have the potential to shake up the U.S. real estate market due to an anticipated influx of real estate investors looking to purchase heavily discounted, distressed assets and an expected increase in real estate foreclosures. [read post]
By Pillsbury's Construction & Real Estate Law Team On Saturday, March 21, 2020, New York Governor Andrew Cuomo issued Executive Order No. 202.8 (EO 202.8) requiring all nonessential employees to stay home, effective at 8 p.m. [read post]
By Pillsbury's Construction & Real Estate Law Team Please join us today, April 7, 2020, at Noon ET / 9:00am PT for an Industry Insights webinar series designed to help clients spot issues, mitigate risk and navigate challenges specific to their industry. [read post]
By Pillsbury's Construction & Real Estate Law Team The Climate Mobilization Act constitutes a profound shift in the regulation of commercial real estate in New York City—and all stakeholders including building owners, investors, sellers and purchasers, tenants, and lenders will need to consider how to quantify and allocate the costs of compliance (or non-compliance). [read post]
by Pillsbury's Construction & Real Estate Law Team The listing of Specially Designated Nationals (SDNs) has the potential to impact any American doing business with a named party, including landlords who lease real estate to sanctioned persons. [read post]
By Pillsbury's Construction & Real Estate Law Team Today, our colleagues Alex Ginsberg, Glenn Sweatt and Kevin Massoudi published their Client Alert on a recently issued Special Inspector General for Afghanistan Reconstruction (SIGAR) Report that finds over $15 billion in waste, fraud and abuse. [read post]
By Pillsbury's Construction & Real Estate Law Team New Small Business Administration (SBA) guidance implementing the Paycheck Protection Program (PPP) confirms that a somewhat narrower set of affiliation principles now applies to SBA loan programs, including the PPP. [read post]
By Pillsbury's Construction & Real Estate Law Team On May 13, 2020, one day before the expiration of the relevant “safe harbor” deadline, the Small Business Administration (SBA) issued new guidance to borrowers who have been considering whether to return their CARES Act Paycheck Protection Program (PPP) loans in the event that the borrowers failed to consider their access to alternative sources of liquidity before certifying… [read post]
By Pillsbury's Construction & Real Estate Law Team Today, our colleagues Alex Ginsberg, Glenn Sweatt and Kevin Massoudi published their Client Alert on a recently issued Special Inspector General for Afghanistan Reconstruction (SIGAR) Report that finds over $15 billion in waste, fraud and abuse. [read post]
By Pillsbury's Construction & Real Estate Law Team Although the majority of states across the country have issued statewide Shelter-in-Place or Stay-Home orders, Texas has demurred, initially altogether, deferring to counties and cities to use their own executive authorities as they deemed necessary, and then coming along in substance while eschewing the “stay-home order” characterization. [read post]
By Pillsbury's Construction & Real Estate Law Team Please join us April 7, 2020, for an Industry Insights webinar series designed to help clients spot issues, mitigate risk and navigate challenges specific to their industry. [read post]
by Pillsbury's Construction & Real Estate Law Team The legal cannabis industry in the U.S. is growing at an unprecedented rate and is projected to reach $73.6 billion by 2027. [read post]