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In a policy notice effective April 3, the U.S. Small Business Administration (SBA) updated its standard operating procedures (SOP) to prohibit providing loans to both marijuana- and hemp-related businesses and businesses deriving any gross revenue from sales to marijuana-related businesses (MRBs) including those providing lighting, hydroponic equipment or testing services See, SBA Policy Notice, “Revised Guidance on Credit Elsewhere and Other Provisions in SOP 50 10 5(J),” No. 5000-17057.
By Michael R. Leighton
Numerous shopping center developers use a “layer-cake” of financing, including state and federal tax incentives to reduce the costs of debt and equity financing. The industry correctly saw that the market value of the credits would drop once the Jobs Act become effective. Such tax cut could undoubtedly impact the ability of developers to raise equity, certainly for new projects not yet placed in service.
By Erika Morphy
One of the many provisions of last year’s tax overhaul was the creation of a little-noticed program called Opportunity Zones, which was designed to give investors tax breaks for investments in designated areas. Now, attention is starting to pick up as the program takes shape.
By Michael B. Gerrard and Edward McTiernan
The courts issued 41 decisions in 2017 under the New York State Environmental Quality Review Act, and changes were made to regulations themselves this year. This article summarizes the most important of these cases and regulation changes, and the patterns they represent.
Tenant Improvement Does Not Shift Repair Responsibility Away from Landlord
Attorney Fees Not Court-Ordered Cannot Be Recouped by Withholding Rent