The Potential Impact Of The Recently Enacted Enabling Partnerships For Growth Act On Local Zoning And The Development Of Residential Real Estate In Massachusetts
Will the statutory zoning changes recently enacted by the Massachusetts Legislature result in a rush of new development and start to address the goal of increasing housing in the Commonwealth? Prospects for growth in housing and residential real estate development in Massachusetts have the potential to expand significantly following the passage of a new Massachusetts…
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Irs Notice Extends Qualified Opportunity Zone Relief
On January 19, 2021, the Internal Revenue Service (“IRS” or the “Service) issued Notice 2021-10 (the “2021 Notice”) extending relief measures first provided in Notice 2020-39 (the “2020 Notice”) related to investments by qualified opportunity funds (“QOFs”) in qualified opportunity zones (“QOZs”). This Client Alert summarizes the relevant provisions of the QOZ legislation in the Internal…
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The Good, The Bad, And The Dead: The Legacy, Scandal, And Discontinuance Of Libor
Lenders have long relied on the London Interbank Offered Rate, or, “LIBOR”, as a benchmark interest rate for variable rate financial products. In late July of 2017, the United Kingdom’s Financial Conduct Authority announced that LIBOR would be phased out by the year 2021. With an estimated US$350 trillion in outstanding financial products, including loans,…
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Covid-19 Effect On Litigation In State And Federal Courts
Since the onset of the COVID-19 pandemic, courts throughout the country have faced unprecedented challenges to their goal of providing an avenue for justice to litigants. As the pandemic continues to unfold, state and federal courts have struggled with the logistical hurdles that come with court closures and changing procedural rules as states take measures…
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Covid 19 – What To Expect January 20, 2021
Twenty twenty-one will be a big year for businesses and not just because of COVID-19. With the election over and the inauguration forthcoming, we wanted to bring you a brief forecast of what businesses can expect during the Biden Administration. While the President-Elect’s transition platform provides clues, the Administration’s future business and employment policy goals…
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Covid 19 – Paycheck Protection Program Reopens
The U.S. Treasury and Small Business Administration (“SBA”) officially reopened the Paycheck Protection Program (“PPP”) on January 11, 2021, but with a caveat. PPP funds are initially only available for those for businesses applying through community financial institutions (“CFI”) that typically serve the concerns of traditionally underserved small businesses. The SBA has announced that this…
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Covid 19 – Residential Real Estate; The Impact Of Covid-19 On Residential Mortage Rates, The Residential Mortgage Market, And The Residential Real Estate Market Generally
The COVID-19 pandemic has broadly impacted the residential real estate industry in both the context of overall market conditions and in the context of the structure and logistics of individual transactions. In February and March of 2020, many state and local governments initially responded to the pandemic by instituting shutdowns that severely limited economic activity…
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Client Update – The Reopening of the Economy.
Employers across the country are looking towards a time when business operations can return to pre COVID-19 operations. While there is no clear guidance as to when this will occur, many states are beginning to formulate plans to relax workplace restrictions. The following is an update as to the status of economy reopening in Massachusetts, Connecticut,…
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Client Update – Hotels, Motels & Lodging During and After Covid- 19.
While the Coronavirus has struck all aspects of the economy, hotels and motels are in a unique situation; they are considered an essential service and can stay open but more and more, the economics of staying open are simply not viable. Before widespread implementation of ‘Stay at Home’ orders due to the COVID-19 pandemic, average…
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Client Update – Wha’s New For Restaurants and Bars in a Post Covid-19 Marketplace.
As various states (and local governments) begin (and continue) lifting or loosing up the stay-at-home restrictions, restaurants and other food and beverage retailers throughout the United States are now dealing with new legal challenges, regulatory compliance and operational impediments. Nearly all restaurants and other food and beverage retailers have taken a substantial hit as a result…
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