Digital advertising is an effective and efficient way to brand a property, but it is also increasingly complex and nuanced, which is why many real estate firms subcontract this work to creative agencies that specialise in digital ad strategy and development. However, engaging a third party to provide this service can introduce risk in a number of areas. Therefore, real estate firms should consider how to mitigate those risks in their contracts with digital advertising partners.
President Trump recently signed into law the Consolidated Appropriations Act 2018, a $1.3 trillion omnibus spending plan covering the remainder of the 2018 fiscal year. In addition to providing for increased appropriations for several affordable housing programmes, the spending plan adopted two key provisions from the proposed Affordable Housing Credit Improvement Act that will strengthen and expand the low-income housing credit.
The US Court of Appeals for the Federal Circuit recently reversed the US Court of Federal Claims decision that a constitutional compensable taking had occurred with respect to the owners of real property which had been damaged as a result of Hurricane Katrina and other recent hurricanes. This ruling could affect many thousands of Texas and Southeastern United States claims that are being filed in the court of claims in the wake of Hurricane Harvey.
A new initiative seeks to put two significant changes to California's property tax system before voters in November 2018: the elimination of Proposition 13 protection for commercial and industrial properties in favour of reassessment at least every three years and the addition of a tangible personal property tax exemption for all taxpayers and a full tangible personal property tax exemption for taxpayers with less than 50 California employees.
With a number of states having already legalised medicinal marijuana, the demand for cannabis continues to be on the rise. With an increase in demand for the product comes an increase in the need for production facilities, including indoor marijuana cultivation space. Real estate investors have jumped on this market; however, while the resulting real estate boom is undoubtedly a positive for the real estate industry, it does not come without legal and operational risks.
The Court of Appeals recently affirmed a lower court's decision to dismiss a plaintiff's complaint that an amendment to Rockville's 'light industrial' municipal zoning ordinance was unconstitutional as it violated the due process and equal protection guarantees of the 14th Amendment to the Constitution. The ordinance made it impossible for Siena Corporation to build on its property a large self-storage facility within 250 feet of a public school.
In an unusual case, the US Court of Appeals for the 10th Circuit reversed the district court's decision that recently enacted Wyoming laws impose civil and criminal liability on any persons who "cross private land to access adjacent or proximate land where he [or she] collects resource data". The court concluded that the statutes regulate protected speech under the First Amendment and are not shielded from constitutional scrutiny merely because they touch on access to private property.
Balancing the interests of the federal government as owner of thousands of acres surrounding Crooked Lake and the rights of private owners, the US Court of Appeals for the Sixth Circuit recently ruled that the US Forest Service exceeded its authority when issuing rules restricting recreational use of the lake. According to the court, relevant Michigan law grants owners of property surrounding the lake the right to reasonable use of the lake.