thE CONDEMNATION CLAUSE

By Tom Flynn of
International Amalgamated Group, Inc.

The condemnation clause in a lease can do one of three things:  (1) clarify, (2) ignore or (3) confuse.  There have been instances when the clause has managed to do all three.  We will attempt to provide some insights in the problems caused by unclear drafting.  Ignoring the potential for condemnation potentially leads to additional litigation between the landlord and tenant as they fight the government and each other to maximize the award each hopes to obtain. Click here to read more...

tax Credit Project Damaged by fire during construction offers lessons in recovery, transaction structing

By TaxCreditAdvisor, HousingOnline.com


IN REAL ESTATE PROJECTS using federal tax credits, most eyes are focused on
structuring the transaction, building the project, and setting up mechanisms to ensure
adequate compliance during the recapture period.
But what happens if a disaster like a fire or hurricane destroys or damages the
project during construction, or before the end of the compliance period? What then?
Can the tax credits be preserved? Will there be enough insurance proceeds to rebuild
the project? Click here to read full article...

 

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