Government,
Administrative/Regulatory
Dec. 29, 2016
Navigating financial subsidies from local governments
With the demise of redevelopment agencies in California, a financial subsidy necessary for the financial viability of a real estate project would now need to come from the local city (or another local governmental agency).
Bruce W. Galloway
Shareholder
Richards, Watson & Gershon
With the demise of redevelopment agencies in California, a financial subsidy necessary for the financial viability of a real estate project would now need to come from the local city (or another local governmental agency). There are many types of potential financial subsidies, but also specific limitations, a specific hearing/report requirement, and unless an exemption applies, higher development costs due to the prevailing wages requirement for assisted projects.
Basic Types o...
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