News & Publications

On May 17, 2024, the District of Columbia Office of Tax and Revenue (OTR) published a notice summarizing the District of Columbia's current policy regarding the recordation and transfer tax treatment of an assignment of a lease, including a ground lease, with a term of at least 30 years (including renewals). This is the first official statement by OTR regarding the taxation of assignments of long-term leases, including ground leases. This official policy changed an [...]

Colorado continues to expand on recent legislative efforts to address the state's housing shortage. On May 30, 2024, Governor Jared Polis signed House Bill 1316 to establish a new Middle-Income Housing Tax Credit (the "Middle-Income Credit") with the goal of encouraging private sector investment in affordable housing. This new credit will be administered through the Colorado Housing and Finance Authority (the "Authority") which also oversees the state's Low-Income Housing Tax Credit ("LIHTC"). Credit Overview The Middle-Income Credit [...]

Tornado season is again upon us, bringing with it the threat of catastrophic property damage, upended lives, and interrupted businesses—as many multifamily developers and investors know all too well. In a prior post, our team outlined a few helpful tips for handling the insurance and claims process following a casualty event. However, that's only a piece of the puzzle. Multifamily developers will also need to carefully examine certain key documents to understand their rights and obligations [...]