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|Property Owners Face Higher Taxes in Montgomery County|
Cindi E. Cohen; Lerch, Early & Brewer, Chartered;
June 20, 2016, previously published on May 26, 2016The Montgomery County Council and the Maryland State Legislature both passed legislation that will result in higher taxes associated with the ownership and transfer of real property in Montgomery County.
|Iowa Landowners Disappointed in Iowa Utilities Board Decision|
Bill Hanigan; Davis, Brown, Koehn, Shors & Roberts, P.C.;
June 20, 2016, previously published on March 10, 2016On Thursday, March 10th, the Iowa Utilities Board (IUB) released its decision regarding Dakota Access’ request for a permit to use eminent domain to take private farmland for its proposed Bakken oil pipeline.
|Community Hubs: Strategies for Lead Agency De-Risking|
Brennan M. Carroll, Webnesh Haile, Nick G. Pasquino; Borden Ladner Gervais LLP;
June 16, 2016, previously published on May 24, 2016In August 2015, Premier Wynne's Community Hubs Framework Advisory Group released a report titled Community Hubs in Ontario: A Strategic Framework and Action Plan (the "Community Hubs Action Plan"). The report identified barriers to community hub development and presented recommendations,...
|City of Aurora Now Requires Registration of Vacant or Foreclosed Properties|
Casey B. Hicks; Weltman, Weinberg & Reis Co., L.P.A.;
June 16, 2016, previously published on May 19, 2016Ordinance Number 016-004 was recently enacted in Aurora, Illinois and requires all vacant or foreclosed properties to be registered by the owner with the city. The ordinance defines “owner” broadly; it includes a mortgagee that has instituted foreclosure proceedings against the...
|A Brief Summary of Landlord and Tenant Act 1987|
Paul Brecknell; Withers Bergman LLP;
June 9, 2016, previously published on May 9, 2016The Landlord and Tenant Act 1987 provides that any landlord wishing to dispose of his interest in a building containing two or more flats must first offer its interest to the 'qualifying tenants' ie, broadly speaking, the tenants with long leases. If the landlord fails to do so, he will be...
Paul Brecknell; Withers Bergman LLP;
June 9, 2016, previously published on May 9, 2016The Valuation Office Agency ('VOA') is recalculating business rates. The new rates will be payable from 1 April 2017, based on rents in 1 April 2015.
|Disclosure of Ownership of UK Property|
Lindsay Brown, Christopher Groves, Justine Markovitz; Withers Bergman LLP;
June 9, 2016, previously published on May 12, 2016At the international anti-corruption summit today David Cameron has announced significant proposals that will affect foreign owners of UK property.
|Rights of First Refusal under the Landlord and Tenant Act 1987|
Eloise Morgan; Withers Bergman LLP;
June 9, 2016, previously published on May 9, 2016Part 1 of the Landlord and Tenant Act 1987 applies to premises which consist of the whole of or part of a building. It provides that any landlord wishing to dispose of his interest in a building containing two or more flats must first offer the interest to 'qualifying tenants'. If the tenants do...
|New Five-Year Incentive In Cook County Expands Availability Of Property Tax Relief|
Zachary A. Kafitz, James B. Sarnoff; Sarnoff & Baccash;
June 8, 2016, previously published on Fall 2014The Class 7c Incentive or Commercial Urban Relief Eligibility (¿CURE¿) is a new five-year commercial property tax Incentive in Cook County that is targeted to help commercial property owners throughout the County by reducing a property¿s tax burden by essentially 60% for three years; 40% in year 4...
|Good News on “Bad Boy” Guarantees - IRS Reverts to Prior Position in Recent Legal Advice Memorandum|
Daniel O. Gaquin, Sohail Itani, Jeffrey A. Moerdler, Abraham A. Reshtick; Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.;
June 6, 2016, previously published on May 12, 2016On April 15, 2016, the IRS released a generic legal advice memorandum (GLAM 2016-001) (the “April GLAM”) addressing the impact of so-called “bad boy” guarantees (also known as nonrecourse carve-out guarantees) on the characterization of underlying partnership debt as...