Newsletters

08.15.12

The Continued Wind Down of Redevelopment: Two Key Opportunities for Public-Private Partnerships

As we previously reported, the Redevelopment Dissolution Act (AB x1 26) dissolved all California redevelopment agencies as of February 1, 2012, and provided a complex scheme to wind down the affairs of the dissolved redevelopment agencies.


07.05.12

Charter City Public Works Projects Are Not Subject to Prevailing Wage Requirements

Charter cities are not required to comply with California’s prevailing wage law with respect to construction contracts for public buildings, according to a July 2, 2012, California Supreme Court decision.


06.20.12

Affordable Housing Project Found to Be Subject to Prevailing Wages

In a decision filed on June 15, 2012, the Fourth Appellate Court of Appeal determined that an affordable housing project in San Bernardino was subject to the requirement for the payment of prevailing wages under Labor Code Section 1720 notwithstanding the fact that the individual sources ...


06.04.12

Supreme Court Confirms Credit Bid Rights of Secured Creditors

The United States Supreme Court, in the case of Radlax Gateway Hotel, LLC v. Amalgamated Bank (“Radlax”), ruled that secured creditors have the same right to credit bid in collateral sales under a plan of reorganization as they do in sales under Section 363 of the Bankruptcy Code ...


05.21.12

Redevelopment Update—Budget Trailer Bill Targets Wind-Down of California’s Redevelopment Agencies

Last week the California Department of Finance released the trailer bill language for this year’s Governor’s proposed budget. “Trailer bills” are budget implementation bills and often include changes to existing law. 


04.17.12

City of Los Angeles—Planning and Zoning Update

As part of the City of Los Angeles’ comprehensive effort to revise its Planning and Zoning Code, which has not been done since 1946, and to streamline the development process to make it more clear, the City recently approved two significant ordinances.


04.11.12

A New Case Interpreting Limited Recourse Guarantees; This Time With a Different Result

Facts: Lender made a $44,000,000 loan to Borrower. Borrower purchased two commercial properties and leased them to Washington Mutual Savings and Loan (“Tenant”).


02.27.12

CMBS 2.0: Still in Need of Work

Since their arrival in the 1980s, commercial mortgage–backed securities (CMBS) have held great promise for commercial real estate borrowers.


01.18.12

Redevelopment Update: New Legislation and Designation of Successor Agencies

Despite the launch of two bills—one that would delay the effective dissolution date of redevelopment agencies (RDAs) across the state and another that would allow cities to retain affordable housing funds—cities are scrambling to meet the February 1 court-ordered deadline to shut down ...


12.29.11

Supreme Court Upholds Dissolution of Redevelopment Agencies and Invalidates "Pay to Play" Option

After months of legal uncertainty, the California Supreme Court today issued its opinion in California Redevelopment Association, et al. v. Matosantos, Case No. S194861, marking the end of California’s 400+ redevelopment agencies (“RDAs”) and invalidating the alternative by ...