Source: https://harriscompanyrec.com/blog/2010/10/
Timestamp: 2019-04-19 22:41:12+00:00

Document:
Remember that now-iconic scene in The Fugitive, where Harrison Ford's character has turned the tables on Tommy Lee Jones, and while holding Jones at gunpoint proclaims, "I didn't kill my wife!"
Jones' response -- "I don't care!" -- could just as easily apply to regulatory takings law, especially where a property owner alleges a regulatory action results in a per se taking (either a Lucas interference with all economically beneficial use, or a deprivation of a fundamental aspect of property such as the right to exclude).
In those cases, it generally does not matter what justifications the government may have for the regulation -- the only thing relevant is the impact of the regulation on the property. In other words, even a regulatory action that might be a very good idea (from the government's perspective) results in liability for compensation if it results in a taking of property.
Thus, a court's proper response to the government's assertion in a takings case seeking compensation that a regulation is "in the public interest" would be a Tommy Lee Jones-esque "I don't care!" The only way the government can avoid liability is to show that the regulation is a "background principle of nuisance and property law" to which the property was always subject.
Earlier this week, the Washington Court of Appeals applied this analysis in Dunlap v. City of Nooksack, No. 63747-9-9 (Oct. 25, 2010). Generally speaking, we don't cover unpublished decisions, but we're going to make an exception because this is an interesting case.
Mr. and Mrs. Dunlap own two parcels in northern Washington state in the city of Nooksack, which appears to us to be just a short American Goldfinch flight from the Canadian-American border (the Goldfinch is the official State Bird of Washington...work with us here). The first is a 29 acre parcel zoned for agricultural and residential uses, bordering West Third Street and several other roads.
The other parcel is a 1/4 acre, zoned for residential use; a slough runs through the middle of this parcel, rendering the middle of the parcel unuseable. See inset photo. The slough is a wetland and shoreline under Washington law.When they purchased the property, there was a 100-foot "no build" buffer from the slough, and when they later sought permission to build a home, the buffer was 50 feet.
The city vacated West Third, meaning it eliminated the public interest in the road, and the Dunlaps asserted that this cut off their access to the 29 acre parcel and was a taking. The trial and appeals courts disagreed, noting, "[t]he trial court concluded that the Dunlaps failed to establish that access to the 29.5-acre parcel was substantially impaired because, even after vacation of West Third Street, the Dunlaps had access to the parcel." Slip op. at 4. Since their parcel was not landlocked, there was no taking. Easy case.
The 1/4 acre parcel was another matter, however. The Dunlaps had applied to the city for a permit to build a house on this parcel, and sought a shoreline variance to retain an already constructed fence. When permission to build the house was denied, the Dunlaps also sought a shoreline variance. Denied also. They exhausted their administrative appeals, which were also denied, then headed off to court. You broke it you bought it, said the Dunlaps, and in a regulatory taking claim, they asked for just compensation.
The trial court agreed, holding that the only economically beneficial use of the property was to build a residence, but because of the buffers, the house was limited to 480 square feet. Building a tiny house not much bigger than a walk-in closet, the court found, was not economically viable. Forcing the owners to build a 480 square foot home "is a total and devastating economic impact to the quarter acre parcel." See Findings of Fact at 7. The trial court's written findings are here.
The court of appeals affirmed. First, the court disposed of the city's claim that it was not liable because it was merely enforcing state law. The property owners should have sued the state, not the city. The court concluded that "there is no evidence that the State, through the Department, directed or controlled the City in its decision on the Dunlaps’ application for a variance. In fact, the Department actually recommended approval of the Dunlaps’ application with changes as proposed by the Department." Slip op. at 8. Since the city was not acting as the state's agent, the city was liable.
The court of appeals also rejected the city's claim that a 480 square foot house was an economically viable use of the parcel. The court concluded the trial court was well within its discretion because the testimony supported its findings: building a home without infringing on the slough buffer would be very expensive, the home would have no fence, yard, or patio area, and the no-build buffer would be "right outside the house." Slip op. at 12.
Finally -- and here's the Tommy Lee Jones part -- the court rejected the city's argument that it could not be liable for a taking because the slough buffer was a really good idea. The city asserted that the trial court should have applied the Penn Central three-factor ad hoc regulatory takings test, and not the per se Lucas test. Penn Central allows inquiry into the "character of the government action" (whatever that means), and some have argued this permits the government to argue that there is no taking because the regulations serve some public good.
Under the Lucas/Guimont analysis, if the City’s regulation of the Dunlaps' property results in a total taking, the Dunlaps are entitled to just compensation regardless of the public interest advanced in support of the restraint, unless the City can meet a rebuttal test. Under the rebuttal test, if the Dunlaps establish that the regulation of their quarter-acre tract has denied all economically viable use of the property, the City can avoid paying compensation only by identifying "'background principles of nuisance and property law that prohibit the uses [the owner] now intends in the circumstances in which the property is presently found.'" "In other words, the [City] must show the proscribed use interests were not part of the owner’s title to begin with." If the Dunlaps prove a total taking and the City fails to rebut that claim, then the Dunlaps are entitled to compensation without any case-specific inquiry into the legitimacy of the public interest supporting the regulation.
Slip op. at 9-10 (emphasis added) (footnotes and citations omitted).
Washington, DC - Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released the fiscal year (FY) 2011 Notice of Funding Availability (NOFA) for its Native American CDFI Assistance (NACA) Program. This NOFA officially opens the FY 2011 NACA Program funding round.
"I'm proud to see the CDFI Fund already accomplishing many of the objectives outlined in our five-year Native Initiatives Strategic Plan that was launched in 2009," said CDFI Fund Director Donna J. Gambrell. "The NACA Program plays a critical role in our commitment to support Native Communities and the efforts by the CDFI Fund will ensure that the number and the capacity of Native CDFIs will continue to increase nationwide."
The FY 2011 NACA Program funding round makes approximately $10 million, subject to final Congressional appropriations, available in awards to Native CDFIs, and entities proposing to become or create Native CDFIs, that primarily serve Native American, Alaskan Native or Native Hawaiian communities (Native communities).
Organizations wishing to apply for Financial or Technical Assistance under this funding round of the NACA Program may find more detailed information about the program and application below. The CDFI Fund will also hold a workshop in Denver, Colorado to further explain the application process. Those who may not be able to attend the workshop in Denver can access a pre-recorded version of the workshop on the CDFI Fund’s website.
In 2004, the CDFI Fund introduced the NACA Program, which was specifically designed to encourage the creation and strengthening of CDFIs that primarily serve Native communities. Organizations funded serve a wide range of Native communities, and reflect a diversity of institutions in various stages of development – from organizations in the early planning stages of creating a CDFI, to tribal entities working to certify an existing lending program, to established CDFIs in need of further capacity building assistance.
Two types of funding are available through the NACA Program: 1) Financial Assistance awards available only to certified CDFIs and primarily used for financing capital; and 2) Technical Assistance grants used to build the capacity of CDFIs or organizations on track to become or establish a CDFI within three years.
Since 2002, the CDFI Fund has made 220 awards totaling $46.8 million through its various funding programs benefiting Native communities. Today, there were 59 certified Native CDFIs. In addition, the CDFI Fund has awarded over $8 million in contracts to organizations that provide capacity-building and financial services training programs focused on Native Communities.
The CDFI Fund has posted the NOFA and application materials on the Grants.gov website in advance of the NOFA’s publication in the Federal Register on November 03, 2010 to provide applicants as much time as possible to submit an application. Applicants are urged to read all application materials. Additional guidance and reference copies of the application materials can also be found on the CDFI Fund's website by clicking here.
All Applicants must submit their applications electronically through Grants.gov. The CDFI Fund will not accept NACA Program applications through myCDFIFund accounts nor will applications be accepted via email, mail, facsimile, or other forms of communication. Please see the NOFA for more information on submitting the NACA Program application, the Certification application and the Material Events Form.
In-Person Application Workshop: The CDFI Fund is sponsoring one in-person NACA Program application workshop. The CDFI Fund’s Native Initiatives staff will conduct the workshop, and will be available to answer participant questions.
Registration: Due to security requirements at this federal facility, anyone wishing to attend an application workshop must register through the CDFI Fund's online registration system. Individuals who do not pre-register before the applicable registration deadlines and thus do not appear on the registration list for the facility will not be admitted.
The registration period is currently open. To register, please visit: http://www.cdfifund.gov/news_events/workshopregistration.asp.
For more information on the NACA Program, the webinar or the application workshop, please contact the CDFI Fund Help Desk at cdfihelp@cdfi.treas.gov.
The CDFI Fund invests in and builds the capacity of community-based, private, for-profit and non-profit financial institutions with a primary mission of community development in economically distressed communities. These institutions – certified by the CDFI Fund as community development financial institutions or CDFIs – are able to respond to gaps in local markets that traditional financial institutions are not adequately serving. CDFIs provide critically needed capital, credit and other financial products in addition to technical assistance to community residents and businesses, service providers, and developers working to meet community needs.
The CDFI Fund's vision is an America in which all people have adequate access to affordable capital, credit and financial services.
For more information about these awards, or about the CDFI Fund and its programs, please visit the Fund's website at: http://www.cdfifund.gov.
Mr. James will participate in a discussion on the state of the Native CDFI industry during the Opportunity Finance Network Conference 7th Annual Native Gathering.
This event is open to the press. Interested members of the media should contact Jacqueline Fox at (215) 320-4313 or at jfox@opportunityfinance.net.
Mr. James will participate on the “Native CDFI Funders” panel at the Opportunity Finance Network Conference. This session will highlight funding sources available for Native CDFIs including other federal funding, foundation support and coordination with Native non-profit lenders.
Director Gambrell will be the keynote luncheon speaker at the 2010 Opportunity Finance Network Conference in San Francisco, California. Director Gambrell’s remarks will highlight the CDFI Fund’s accomplishments over FY 2010 and its plans for FY 2011, and will address how the CDFI Fund’s programs are helping to resolve some of the challenges that many underserved communities and small businesses are currently facing as a result of the economic environment.
This event is open to the press. Interested members of the media should contact Donna Fabiani at (202) 297-1619 or at dfabiani@opportunityfinance.net.
Ms. Martinez will participate on the “NMTC 101” panel at the Opportunity Finance Network Conference. This session will provide information on what it takes to apply to the NMTC Program and, for successful applicants, how to manage a NMTC allocation.
Mr. Bischak will participate on the “CDFI Industry Research, The MacArthur Foundation Research Studies and CDFI Evaluation Initiative” panel at the Opportunity Finance Network Conference. The CDFI Fund and the MacArthur Foundation are each supporting a number of research efforts related to assessing the impact of CDFIs.
In Holmes v. Summer (2010) 188 Cal.App.4th 1510, the Court of Appeal for the Fourth Appellate District held that when a real estate agent or broker for a seller is aware that the amount of existing monetary liens and encumbrances exceeds the sales price of a residential property, so as to require either the cooperation of the lender in a short sale or the ability of the seller to put a substantial amount of cash into the escrow in order to obtain the release of the monetary liens and encumbrances affecting title, the agent or broker has a duty to disclose this state of affairs to the buyer, so that the buyer can inquire further and evaluate whether to risk entering into a transaction with a substantial risk of failure.
NEW YORK-October 26, 2010-Commercial real estate property values, with the exception of retail, have experienced continued improvement in the past quarter according to the results of Integra Realty Resources' (Integra) 3Q 2010 Commercial Property Index . This survey uses Integra's extensive national database and a polling system to determine the rate of change in property values across the country and in all property types, including multifamily, lodging, industrial, retail, and office. Integra is North America's largest independent commercial real estate consulting firm that specializes in the valuation of commercial real estate.
"The big news is that the office and industrial sectors are showing signs of stabilization," said Jeffrey Rogers, President and COO of Integra Realty Resources. "Having registered slight declines over the past three months, office and industrial values are expected to trend sideways over the next six months. As predicted in our previous 2Q 2010 Commercial Property Index, the multifamily sector has bounced back. That being said, retail properties are still showing signs of weakness and stabilization will not likely be reached until late 2011."
This quarter's survey shows that lodging (-8 percent) and retail (-8 percent) property experienced the greatest declines in value over the past 12 months. In the past quarter, the multifamily sector is the only sector that increased in value (2 percent). The retail and industrial sectors' rate of decline was the same as last quarter (-1 percent), and the office sector (-2 percent) and the lodging sector (-1 percent) also experienced minor declines in value.
The good news is that in the next six months, only the retail sector is expected to experience a rate of decline (-1 percent), while the multifamily sector is projected to increase in values of 2 percent. Office, industrial and lodging sectors are expected to stabilize without any increase or decrease in value.
When comparing the regions, the East has continually demonstrated the best performance, with its multifamily sector increasing 4 percent in value in the past quarter. The West has performed the worst, with its office sector experience a -6 percent rate of decline and its industrial sector experience a -4 percent rate of decline.
In the next six months, property values are expected to increase across all property sectors in the East, from 1 percent for office, retail and industrial sectors, to 2 percent for the lodging sector and 3 percent for the industrial sector. In the Southern region of the country, all industry sectors are displaying signs of stabilization, with the multifamily sector experiencing an increase of 2 percent. The Central region also shows signs of recovery with office and lodging sectors stabilizing, the multifamily and industrial sectors increasing (2 percent), and retail experiencing a rate of decline (-2 percent). Western multifamily is expected to increase (1 percent), while the industrial and lodging sectors experience a decrease of -2 percent in value and office and retail experiencing a decline of -3 percent.
The Integra survey also shows that commercial real estate continues to be recessionary. The Western and Central regions of the country have held steady with 49 percent and 39 percent, respectively, classified as distressed assets. Southern distressed assets decreased from 52 percent in 2Q 2010 to 45 percent this quarter and Eastern distressed assets decreased from 35 percent to 27 percent.
With corporate offices in New York City, Integra Realty Resources, Inc. is an independent real estate valuation and consulting firm that offers local expertise on a national scale with 59 offices and 850 credentialed consultants and staff located across the United States and in Mexico. Founded in 1999, the Firm specializes in real estate appraisals, feasibility studies, market studies, expert testimony, and related property consulting services. Many of the nation's largest and most prestigious financial institutions, developers, corporations, law firms, and government agencies are among its clients. Because of the high quality of its professionals, integrated systems, and state-of-the-art technology IRR is capable of handling a wide array of assignments and producing high quality, meaningful results on a timely basis. Please call Integra for your next assignment or visit us at www.IRR.com.
"Data Shop, a department of Cityscape, presents short articles or notes on the uses of data in housing and urban research. Through this department, PD&R introduces readers to new and overlooked data sources and to improved techniques in using well-known data. The emphasis is on sources and methods that analysts can use in their own work. Researchers often run into knotty data problems involving data interpretation or manipulation that must be solved before a project can proceed, but they seldom get to focus in detail on the solutions to such problems."
If you are interested in contributing such a note, please send me an abstract by November 12 in order to be considered for the July 2011 issue. The timeline would be I would notify you of selection by December 3, and I would want a draft by February 1, with a final version by February 18. If you are interested in making a contribution but cannot meet these deadlines, please send me an abstract for possible publication in later issues.
Amicus Brief In Columbia Eminent Domain Case: What Level Of Scrutiny Does Kelo Require?
The Pacific Legal Foundation has filed an amicus brief in Tuck-It-Away, Inc. v. New York State Urban Dev. Corp., No. 10-402 (cert. petition filed Sep. 21, 2010), the case in which upper Manhattan property owners have asked the U.S. Supreme Court to review the decision of the New York Court of Appeals in the Columbia "blight" case, Kaur v. New York State Urban Development Corp., No. 125 (June 24, 2010).
This is the case in which the Court of Appeals held that de novo judicial review of the factual record leading to an exercise of the eminent domain power was improper, and whether property can be taken because it allegedly is "substandard or insanitary" is a question for taking agencies, not courts. The record in that case contains fairly convincing evidence that the proffered public use for the takings were not the actual reason, and the Appellate Division concluded that the taking was not valid.
As we noted in several posts criticizing the Court of Appeals' decision (see here and here) and in a post lauding the Appellate Division's decision, "in other words, 'blight' is whatever the agency says it is. Just drum up a 'study' or two, and you're insulated from judicial review."
Under what circumstances does the higher scrutiny described in Justice Kennedy’s concurring opinion in Kelo v. City of New London, 545 U.S. 469 (2005), apply, and what does such scrutiny encompass?
The brief points out that the Kelo majority opinion -- and Justice Kennedy's concurring opinion (which provided the fifth and conclusive vote) -- requires that trial courts take seriously allegations that the condemnor's claimed reason for a taking is not the actual reason. The brief notes that several courts, including most notably the courts of New York, have not paid heed to Kelo's "authorization of heightened scrutiny." Br. at 6-11. Even those courts that adhere to Kelo's mandate, the brief suggests, have been "inconsistent" in what level of judicial scrutiny to apply.
Download the PLF brief here. The Court's docket report is here.
What does CRE Console do?
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Electronic availability announcements. Send electronic marketing announcements to promote a single property or even a “Hot Sheet” of all your listings. We’ll even test email campaigns against the most popular spam filters to ensure the highest possible e-mail delivery rates.
Online CAs and due diligence centers. Your properties will have electronic confidentiality forms linked to a straightforward, easy-to-use document center. We’ll even email you each time a new CA is executed.
Highly detailed tracking info. Enjoy one of the most advanced response tracking reports in the industry, showing you (in real time!) who opened your messages, visited your property web page, and downloaded which documents.
NEW FEATURE: Automated investor reporting. CRE Console has designed a proprietary and automated investor reporting application which generates all your client reports with only a few clicks of a mouse. Then, we automatically update the report in real time. View an example.
NEW FEATURE: Featured property banner ads. Brokers can elect to have their property featured on our blog to gain even more market exposure to commercial real estate investors and brokers. This banner ad is in a Flash-based format and includes both a text description and property photos and is linked directly to your property website.
You may see an example in the upper right hand corner of this page. This same banner ad can even be displayed on your own personal blog.
So what does this mean for you? CRE Console provides these user-friendly and best-in-class marketing practices, so that you can focus on what is most important part: closing the sale.
Interested in learning how CRE Console can become a part of your team? Please contact us directly.
The “Real Estate Project Workshop,” also known as the “Capstone Course” is a major highlight of Cornell’s Program in Real Estate (PRE). The PRE requires all second-year students to participate in the Capstone experience during the spring semester. This class involves a semester-long applied project that integrates what real estate students have learned to date during their course of study.
The Capstone Course is led by Professor Mark Foerster, a seasoned real estate executive with diverse experience in both acquisitions and development. Mr. Foerster is currently the Executive Vice President of Northern Capital Group, a real estate investment, management and development company based in Rochester, New York. He is also the Executive Vice President of Macerich East Development, LLC; the east coast development affiliate of The Macerich Company, a NYSE-traded retail REIT. Among Mr. Foerster’s real estate achievements is the rezoning and subsequent development of 3.5 million feet of mixed-use space in Tysons Corner Center in McLean, Virginia, one of the premier enclosed regional malls in the U.S.
Foerster is currently working with site owners to identify a project for the spring 2011 course. He is looking in New York City, Philadelphia and Washington, D.C.. Past projects include a Boston Properties owned-site in Reston, VA and a Macerich owned-site in Tysons Corner, VA. Last year’s sites were both an 8.5 acre site owned by The Akridge Company and a 4.0 acre site owned by William C. Smith & Company, both located in the Capitol Riverfront/Navy Yard area of Washington, D.C. The Capitol Riverfront/Navy Yard area is bordered by the Capitol Building on the north and the Potomac River on the south, and includes the Washington Nationals baseball stadium and excellent public transit options.
REALTOR.com® puts real estate listings for thousands of commercial properties for sale and for lease at your fingertips in regions across the United States.
Simply enter a city and state in our search bar to gain access to REALTOR.com’s® database of commercial real estate listings and other investment properties currently on the market. So whether you’re looking for commercial real estate in Houston or detailed Grand Rapids commercial property listings, look no further than REALTOR.com®.
Our goal in creating this blog is to be the place for commercial real estate practitioners to share their views and perspectives on current industry news, issues and frankly – about what is going on in your market area.
The CommercialSource.com website exists to be an aggregator of commercial property listings, news, resources – and you. Here we’ll post industry data, new technologies and articles on relevant issues. You’ll find insight and commentary on legislative advocacy, information and analysis on trends, and tips on how to use new tools to help you in your daily business practices. We’ll also share with you thoughts from the road – as we take CommercialSource.com to various industry conferences and REALTOR® conventions. And, there will be a recurring Member Spotlight - where you can be the featured post! Look for details at the end of this week on how you can participate in this interactive feature.
One of the things you’ll notice about the layout of this blog, along the right-hand side of the page, is a Twitter feed of our “tweets” from @commsource – the voice of NAR’s Commercial team, and CommercialSource.com. Keep up with our daily conversation, by following us there – and, if you are unfamiliar with Twitter and how to get started, we can help.
We’d love to hear what you want to see here – Share your comments and feedback!
The first task under the Supreme Court's three-part test for an ad hoc regulatory taking under Penn Central is to measure the "economic impact of the regulation." Professor Steven Eagle wrote in the recent edition of his treatise Regulatory Takings that "[d]iscerning the correct measure of economic impact has been the subject of much dispute."
Thanks to the folks at the Environmental Law Institute, who have allowed us to reprint an article from a recent Environmental Law Reporter which brings some clarity to the subject.
Faulty understanding of standard economic and financial analysis within regulatory takings cases continues to set this jurisprudence apart from standard tort cases, where state of the art economic methods typically are applied within both liability and damages phases of the trial. Clear examples of economic nonsense can be found in three recent decisions by the U.S. Court of Appeals for the Federal Circuit that ignored competent economic evidence within the Penn Central test to overturn temporary takings decisions. The Federal Circuit’s flip-flop between its 2003 decision in Cienega Garden VIII and its more recent decisions in Cienega Gardens X, Rose Acre Farms, and CCA reveals both misapplication of "parcel as a temporal whole" from Tahoe Sierra, a Lucas case, to Penn Central cases and faulty use of valuation methods appropriate for real property to evaluate the severity of economic impact of temporary business income losses. Confused legal theories cannot be shoehorned into standard economic methods essential to evaluate the Penn Central test.
Director Gambrell will be the keynote speaker at the Community Loan Fund of the Capital Region's 25th Anniversary Celebration in Albany, New York. Director Gambrell’s remarks will emphasize the importance and effectiveness of the work that CDFIs are doing in the state of New York and across the nation. Community Loan Fund of the Capital Region (formerly known as Capital District Community Loan Fund) is one of the oldest Community Development Financial Institutions in the country. Director Gambrell will be introduced by Congressman Paul Tonko (NY-21).
This event is open to the press. Interested members of the media should contact Lissa D'Aquanni at (518) 436-8586 or at Lissa@cdclf.org.
Ms. Jaure and Mr. Yagley will conduct two application workshops, and be available to answer questions regarding the FY 2011 CDFI Program. The Financial Assistance application workshop will be conducted from 9:00 AM to 12:00 PM, and the Technical Assistance application workshop will be conducted from 1:00 PM to 4:00 PM.
Mr. Yagley will conduct a workshop entitled “What Is a CDFI and How Does My Agency Become One” at the 2010 Community Investment Futures Annual Conference. The workshop is designed to provide an overview of the CDFI Fund and the steps that are needed to become a certified CDFI. The Community Investment Futures conference combines training in the fundamental skills organizations need to build more sustainable, affordable communities with analysis and practical visions of economic growth.
This event is open to the press. Interested members of the media should contact Kellie Baker at 202-842-2092 or kelliebaker@ncaf.org.
Ms. Jaure and Ms. Coram will conduct two application workshops, and be available to answer questions regarding the FY 2011 CDFI Program. The Financial Assistance application workshop will be conducted from 9:00 AM to 12:00 PM, and the Technical Assistance application workshop will be conducted from 1:00 PM to 4:00 PM.
The registration period for this workshop is currently open. To register, please visit: http://www.cdfifund.gov/news_events/workshopregistration.asp.
Materials And Links From The Webconference "Eminent Domain After Kelo"
Here are the slides that I used and links to the cases I discussed in "The Whacky and Wonderful World of Eminent Domain After Kelo."
My presentation was entitled "Schlimmbesserung - Eminent Domain for Redevelopment." Schlimmbesserung is one of those wonderful German compound words that have no direct translation into English, and means "worsening by improvement." That term summed up for me how several of the more notorious efforts to use eminent domain in redevelopment efforts have fared (e.g., Poletown, Kelo). Professor Gideon Kanner recently posted some thoughts on "redevelopment blunders" here.
Joining me on the panel was Andrew W. Schwartz, a partner in San Francisco's Shute, Mihaly & Weinberger, who suggested that redevelopment was good, and that eminent domain was a necessary part of the process when market forces break down, or there are holdouts. The session was moderated by John Clapp, Ph.D. of the UConn Center for Real Estate, and Michele Maresca, a land use attorney at Robinson and Cole in Hartford.
I'm usually reluctant to post slides from presentations without the accompanying narration, but we received quite a few requests, so here you go. Some of the slides lack context, but I'll bet you get the drift in most of them. Links to the cases below the window.
View more presentations from inversecondemnation.
§ Uptown Holdings, LLC v. City of New York, No. 2882 (Oct. 12, 2010) (notable for Judge Catterson's concurring opinion: "[T]here is no longer any judicial oversight of eminent domain proceedings [in New York]."
§ 49 Wb, LLC v. Village of Haverstraw, 44 A.D.3d 226 (2007), a case in which the Appellate Division invalidated a taking because the condemnor's "sole purpose [was] assisting private entities by means of condemnation."
§ The cert petition in Tuck-It-Away, Inc. v. New York State Urban Dev. Corp., which seeks U.S. Supreme Court review of the New York Court of Appeals' decision in the Columbia "blight" case, Kaur v. New York State Urban Development Corp., No. 125 (June 24, 2010).
This seminar was part of the 2010 Real Estate Teleconference Series sponsored by the Counselors of Real Estate, the University of Connecticut, and Robinson & Cole.
This course aims to give students the tools and training to recognize convex optimization problems that arise in scientific and engineering applications, presenting the basic theory, and concentrating on modeling aspects and results that are useful in applications. Topics include convex sets, convex functions, optimization problems, least-squares, linear and quadratic programs, semidefinite programming, optimality conditions, and duality theory. Applications to signal processing, control, machine learning, finance, digital and analog circuit design, computational geometry, statistics, and mechanical engineering are presented. Students complete hands-on exercises using high-level numerical software.
The course materials were developed jointly by Prof. Stephen Boyd (Stanford), who was a visiting professor at MIT when this course was taught, and Prof. Lieven Vanderberghe (UCLA).
This subject provides a first course in thermo-sciences for students primarily interested in architecture and building technology. It introduces the fundamentals important to energy, ventilation, air conditioning and comfort in buildings. It includes a detailed treatment of different forms of energy, energy conservation, properties of gases and liquids, air-water vapor mixtures and performance limits for air conditioning and power producing systems. Heat transfer principles are introduced with applications to energy losses from a building envelope. The subject is a prerequisite for more advanced thermo-science subjects in Architecture and Mechanical Engineering.
Applications for the 2011 Housing and Urban Development Design Awards program are currently being accepted by the Residential Knowledge Community of the American Institute of Architects (AIA), in conjunction with the Office of the Secretary of Housing and Urban Development. These annual awards recognize excellence in affordable housing, community-based design, participatory design, and housing accessibility.
Award recipients will have their projects publicized by HUD and in AIA's online newsletter, AIArchitect, at info.aia.org/aiarchitect/. The winning designs will also be honored at the 2011 AIA National Convention in New Orleans, on May 12–14.
Applications are due December 10, 2010. The criteria and instructions for online submissions are located at http://www.aia.org/practicing/awards/AIAS075324. Questions should be directed to AIA at (202) 626-7586 or by email to honorsawards@aia.org. Go to http://www.huduser.org/portal/research/secaward.html#des to read about past winners.
FDIC speeches, testimony, and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200).
Kanjorski is a supporter of the The Appraisal Institute, however is a strong Supporter of the AFI. Kanjorski is aware now that the AI only represents about 28% of Appraisers and only 7% of those actually perform appraisals, whereas the AFI represents everyone else.
Subject: Upcoming Events in L.A.
I’ll be having my next commercial real estate cocktail mixer in Santa Monica next Wednesday evening, October 27. We're expecting 500+ people and it should be a great time, so feel free to stop by for a drink after work. Attendance is free - see details at www.ladealmakers.com/oct27.
Also, for those interested in hotel deals, I highly recommend attending IMN’s upcoming Distressed Hotel conference, November 8-9. It's an outstanding event, so hopefully I'll see you there. Details are at www.imn.org/distressedhotels_cbp.
WASHINGTON – The U.S. Environmental Protection Agency (EPA) has chosen eight communities to receive technical assistance on sustainable growth and development issues. The assistance will help local governments address infrastructure constraints, protect water quality, set development standards, and create options for housing and transportation. EPA will work in collaboration with its partners at the Department of Housing and Urban Development (HUD) and Department of Transportation (DOT) to help communities become more environmentally and economically sustainable as part of the agency’s broader work through the Partnership for Sustainable Communities.
The smart growth assistance projects will focus on key topics central to the partnership’s work: cross-departmental coordination of sustainability policies, cities undergoing economic transition, infrastructure financing, historic preservation as part of downtown revitalization and, incorporating climate change adaptation as part of long-term plans.
The projects will be based in Washington, D.C.; Saginaw, Mich.; Wheat Ridge, Colo.; Chicago, Ill.; Salt Lake City, Utah; Concord, N.H.; Cumberland and Cobb counties in Ga.; and a statewide project in Rhode Island.
The projects are being coordinated through the Partnership for Sustainable Communities, which began in June 2009, with EPA Administrator Lisa P. Jackson, HUD Secretary Shaun Donovan, and DOT Secretary Ray LaHood coming together to coordinate federal actions on housing, transportation, and environmental protection. This interagency collaboration achieves efficient federal investments in infrastructure, facilities, and services that meet multiple economic, environmental, and community objectives.
On Thursday, October 21, 2010, from noon to 1:00 p.m. EDT, please tune in for the free web conference "The Whacky and Wonderful World of Eminent Domain After Kelo."
I'm not sure I can live up to making eminent domain "whacky and wonderful," but I will be speaking about what the Court in Kelo really decided, and how courts in the intervening five years have viewed the decision. We will be looking at cases from New York, D.C., Hawaii, and Pennsylvania, among others.
Kelo v. City of New London has been viewed by property rights advocates as the virtual gutting of the Fifth Amendment's limits on the use of eminent domain for transfer to private developers, while advocates of governmental and redevelopment authority power have argued that the decision was simply the continuation of long-standing takings doctrine. Which is it? With the perspective that five years provides, this webinar will look at what the Court decided and what it didn't and recent cases where eminent domain was used for public/private partnerships.
This seminar is part of the 2010 Real Estate Teleconference Series sponsored by the Counselors of Real Estate, the University of Connecticut, and Robinson & Cole.
Did I mention that the registration fee is $0, and that all you need do is register as instructed on this form? Hope you can join us.
We would like to invite you to attend the upcoming FREE seminars taking place in Santa Clarita and Ventura.
Learn how to perform an on-site energy efficiency survey during this informative seminar designed for building owners, maintenance professionals, business owners, and facility managers. At this session, you will learn how to identify energy savings potential that will help you save energy and save money. You will become familiar with common energy systems such as HVAC, lighting, and refrigeration, as well as more complex field equipment, including motors, fans, and pumps. Classroom instruction will include case studies and a hands-on exercise to perform an on-site survey of a facility.
Contractors and vendors will benefit from attending this workshop that explores approaches and tools that can be used to overcome customer resistance toward investment in energy efficient products and services. The seminar emphasizes financial considerations that go beyond the traditional “first cost” and “simple payback” methods. Attendees will learn how to use return on investment (ROI), life-cycle cost analysis, capitalization rate, and tax effects to help business owners understand the long-term financial benefits of energy efficiency for their operation.
Explore premium motor efficiency to reduce energy costs for commercial and industrial facilities.
You may have read recent news reports that MIT was considering placing OCW behind a paywall. This rumor was untrue, but the attention it was given in the press shows just how many people believe that MIT can't keep OCW free and open in the long term.
We need your help to show that it can.
Donations from our visitors are an important part of our long term funding strategy, and your gift of whatever amount you can afford not only sustains OCW but also makes a powerful statement supporting knowledge as a public good.
OCW's annual budget is $3.7 million dollars. MIT pays for half of the costs directly and the rest is funded by grants, corporate underwriters, and donations from our supporters. Last year alone, our site visitors provided more than $200,000 through gifts that averaged $50. Our goal over the next several years is to increase donations from individuals to $500,000 annually. While this is a modest piece of the overall budget, it is a crucial one, as it demonstrates to our sponsors and grantors the value our visitors place in access to MIT's curricular materials.
What would it take to raise $500,000? We know that the vast majority of visitors to our site cannot afford to donate, and our core mission is to provide access to exactly these audiences--educators in developing countries, workers displaced by the financial crisis, homeschooling parents, self learners unable to continue formal study. But if you are able to donate, your support at any level can make a tremendous impact. If just over one tenth of one percent of the 9 million visitors our site received last year donated $50, we would reach our annual goal.
OCW can make a difference in improving the lives of millions of others around the world. Please give generously during our fall fundraising campaign. Your contribution of $25, $50, $100 – or whatever amount is right for you – helps us show that OCW is here to stay as a free and open resource for all.
Please visit http://ocw.mit.edu/donate to make your donation now.
0 This document is incorporated by reference into the Fannie Mae Selling Guide.
(9) Any other act or practice that impairs or attempts to impair an appraiser’s independence, objectivity, or impartiality or violates law or regulation, including, but not limited to, the Truth in Lending Act (TILA) and Regulation Z, or the Uniform Standards of Professional Appraisal Practice (USPAP).
A Seller must not order, obtain, use, or pay for a second or subsequent appraisal in connection with a Mortgage financing transaction unless: (i) there is a reasonable basis to believe that the initial appraisal was flawed or tainted and such basis is clearly and appropriately noted in the Mortgage file, or (ii) such appraisal is done pursuant to written, pre-established bona fide pre- or post-funding appraisal review or quality control processes or underwriting guidelines, and so long as the Seller adheres to a policy of selecting the most reliable appraisal, rather than the appraisal that states the highest value, or (iii) a second appraisal is required by law.
The Seller shall ensure that the Borrower is provided a copy of any appraisal report concerning the Borrower’s subject property promptly upon completion at no additional cost to the Borrower, and in any event no less than three days prior to the closing of the Mortgage. The Borrower may waive this three-day requirement if such waiver is obtained at least three days prior to the closing of the Mortgage. The Seller may provide the Borrower at closing, a revised copy of an appraisal and information as to the nature of any revisions, so long as the revisions had no impact on value.
The Seller may require the Borrower to reimburse the Seller for the cost of the appraisal.
IV. Appraiser Engagement A. The Seller or any third party specifically authorized by the Seller (including, but not limited to, appraisal companies, appraisal management companies, and Correspondent lenders) shall be responsible for selecting, retaining, and providing for payment of all compensation to the appraiser. The Seller will not accept any appraisal report completed by an appraiser selected, retained, or compensated in any manner by any other third party (including Mortgage Brokers and real estate agents). B. There must be separation of a Seller’s sales or Mortgage production functions and appraisal functions. An employee of the Seller in the sales or Mortgage production function shall have no involvement in the operations of the appraisal function.
(a) Selecting, retaining, recommending, or influencing the selection of any appraiser for a particular appraisal assignment or for inclusion on a list or panel of appraisers approved or forbidden to perform appraisals for the Seller; and © 2010 Fannie Mae. Trademarks of Fannie Mae 3 of 4 October 15, 2010 This document is incorporated by reference into the Fannie Mae Selling Guide.
(b) Having any substantive communications with an appraiser or appraisal management company relating to or having an impact on valuation, including ordering or managing an appraisal assignment.
Any person whose immediate supervisor is not independent of the Mortgage production staff and process.
Seller personnel not described in Section IV.B (1)(i) through (iii) above are not subject to the restrictions described above, and may engage in communications with an appraiser. In addition, any party, including the parties described in Section IV.B (1)(i) through (iii) above, may request that an appraiser provide additional information or explanation about the basis for a valuation, or correct objective factual errors in an appraisal report. (2) If absolute lines of independence cannot be achieved as a result of the Seller’s small size and limited staff, the Seller must be able to clearly demonstrate that it has prudent safeguards to isolate its collateral evaluation process from influence or interference from its Mortgage production process. C. Any employee of the Seller (or if the Seller retains an appraisal company or appraisal management company, any employee of that company) tasked with selecting appraisers for an approved panel or substantive appraisal review must be: (1) Appropriately trained and qualified in the area of real estate appraisals; and (2) In the case of an employee of the Seller, wholly independent of the Mortgage production staff and process.
(c) An entity that is owned, in whole or in part, by the Seller; or © 2010 Fannie Mae. Trademarks of Fannie Mae 4 of 4 October 15, 2010 This document is incorporated by reference into the Fannie Mae Selling Guide.
(d) An entity that owns, in whole or in part, the Seller.
(2) Prepared by an appraiser employed, engaged as an independent contractor, or otherwise retained by an appraisal company or any appraisal management company affiliated with, or that owns or is owned, in whole or in part, by the Seller or an affiliate of the Seller, provided that the Seller complies with the provisions of these Appraiser Independence Requirements. B. The Seller also may use in-house staff appraisers to: (1) Order appraisals; (2) Conduct appraisal reviews or other quality control, whether pre-funding or post-funding; (3) Develop, deploy, or use internal Automated Valuation Models; or (4) Prepare appraisals in connection with transactions other than Mortgage origination transactions (e.g., Mortgage workouts), if the Seller complies with the provisions of these Appraiser Independence Requirements.
A Seller may deliver to Fannie Mae a conventional Mortgage with an appraisal prepared by an appraiser selected by another lender, including where a Mortgage Broker has facilitated the Mortgage application (but not ordered the appraisal). The Seller delivering the loan to Fannie Mae makes all representations and warranties to Fannie Mae regarding the appraisal set forth in the Mortgage Selling and Servicing Contract, the Selling Guide and related documents, including the representation that the appraisal is obtained in a manner consistent with these Appraiser Independence Requirements.
Any Seller that has a reasonable basis to believe an appraiser or appraisal management company is violating applicable laws, or is otherwise engaging in unethical conduct, shall promptly refer the matter to the applicable State appraiser certifying and licensing agency or other relevant regulatory bodies.
NY Appellate Judge: "there is no longer any judicial oversight of eminent domain proceedings"
It is truly a sad (and despicable and dangerous) state of affairs when New York's judicial branch admits that it has explicitly turned itself into a bystander when it comes to the 5th Amendment (perhaps the SCOTUS will have something else to say about this soon).
Mazzarelli, J.P., Sweeny, Catterson, Renwick, Manzanet-Daniels, JJ.
City of New York, et al., Respondents.
In my view, the record amply demonstrates that the neighborhood in question is not blighted, that whatever blight exists is due to the actions of the City and/or is located far outside the project area, and that the justification of under-utilization is nothing but a canard to aid in the transfer of private property to a developer. Unfortunately for the rights of the citizens affected by the proposed condemnation, the recent rulings of the Court of Appeals in Matter of Goldstein v. New York State Urban Dev. Corp., 13 NY3d 511, 893 N.Y.S.2d 472, 921 N.E.2d 164 (2009) and Matter of Kaur v. New York State Urban Dev. Corp., 15 NY3d 235, —- N.E.2d —— (2010), have made plain that there is no longer any judicial oversight of eminent domain proceedings. Thus, I am compelled to concur with the majority.
If New York courts aren't going to do their job when it comes to powerful interests taking New Yorkers' homes and businesses, and New York's elected officials are happy to pretend this isn't a problem, what is a New Yorker supposed to do?
You are cordially invited to attend the 10th Annual Bank Research Conference: Finance and Sustainable Growth, October 28-29, 2010 – sponsored by the Federal Deposit Insurance Corporation and the Journal of Financial Services Research.
Conference attendance is limited to registered participants, seating is limited, so early registration is recommended. Those requesting admission will be notified via e-mail when their registration is confirmed.
Registration can be done electronically. There is no conference registration fee. Alternatively you may register by e-mail to nrose@fdic.gov, or contact N. Michelle Rose at 202-898-7204.
Registration Deadline: October 18, 2010.
Hotel accommodations are available through the FDIC at the L. William Seidman Center at the rate of $176.40 per night (tax included), please contact N. Michelle Rose for reservations. Reservations should be made by October 20, 2010 to ensure room availability.
Special BOGO registration rate until October 15! From now until October 15, register yourself and receive a code to register a colleague for half off!* Plus, registration rates go up to $895 after October 15, so don't forget to register by Friday. By attending the Summit, you'll learn about recovery on the upswing and the four 'R's of distressed asset management: Recapitalization, Repositioning, Receivership and Recovery. Presented by Hotel & Motel Management, this Summit will feature in-depth discussions of distressed assets for management companies, lenders and owners and buyers of distressed properties. Visit www.distressedhotelsummit.com today to register and to view the newly updated educational program. *New registrations only.
I would like to introduce you to my architectural newsletter, a weekly brief that will deliver short articles on unique architectural topics. By way of introduction, I am Mario Ortner, principal at Ortner Design, an architectural firm specializing in residential design.
I have recently returned from a 4-month-around-the-world journey. I spent my days admiring the architecture of ancient streets, getting lost in back alleys and exploring historical sites. On occasions I wondered about the style of a particular building, the year it was built and so on. Many people share my curiosity, people who had seen a house they liked and had asked me to identify its style by name. My goal is to provide a snippet of each and all known architectural styles, famous architects, fascinating buildings, green architecture and so on.
This is new territory for me but I have always enjoyed writing and hope to make this architectural newsletter entertaining and informative. You can help too. Please feel free to leave comments and let me know if there is a specific subject that interests you.
The California Tax Credit Allocation Committee (TCAC) is pleased to announce a third funding round for federal four percent (4%) tax credits along with State tax credits. TCAC is making available approximately $30 million in State low income housing tax credits in this third round.
Application Due Date: Applications must be hand-delivered or otherwise received by TCAC no later than 5:00 P.M., November 3, 2010.
Eligible Applicants: Projects located outside of federally-designated Difficult to Develop Areas (DDAs) and outside of Qualified Census Tracts (QCTs).
If the tax credit factor exceeds the limits outlined in the application, please send an email request along with the electronic application to Gina Ferguson at gferguson@treasurer.ca.gov.
Regulation 10305(h) states gives the Committee the sole discretion to reject an application if the proposed project fails to meet the minimum point requirements established by the Committee prior to that funding round. For 2010 the Committee established a 110-point minimum under the 124-point scoring system. However, the Committee may elect to fund projects in spite of scores below the established minimum score. Therefore, TCAC staff welcomes applications even where self-scoring is below the established minimum.
Applications must be complete and proposals must comply with the provisions of TCAC regulations Section 10317(g) and all other relevant statutory and regulatory provisions. TCAC staff anticipates presenting funding recommendations at the December 15, 2010 meeting of the Tax Credit Allocation Committee.
If you have any questions, please contact your regional analyst at (916) 654-6340.
The Regional Economic Conditions, RECON, is now available on line with the second quarter 2010 update.
RECON is a compilation of key economic data in graphic format for the United States as a whole and for each state, county and certain metropolitan statistical areas. The table below displays the RECON data offerings by geographical levels (national, state, MSA or county). Available geographies are denoted by an "X". The "Data As Of" column indicates the latest date available for each RECON offering.
Please remember to periodically check Regional Economic Conditions, RECON for third quarter 2010 updates. Updates will be made throughout the fourth quarter of 2010 as 2010Q3 data becomes available to the RECON system.
California Attorney General Jerry Brown seeks to recover $60 million in civil penalties in an action he filed against three lawyers and two companies in Sacramento County, Calif., Superior Court. According to Brown's complaint, since early 2009 the companies sold "forensic loan audits" -- computerized reviews purporting to show homeowners how their mortgage lenders had violated the law. The audits encouraged homeowners to pay thousands of dollars in up-front fees, instead of paying their mortgages, to bring lawsuits against those lenders.
NAREIT Members Save at Least $700 on Registration Fees. Become a NAREIT Member Today!
The senior management teams of leading REITs will convene in New York at the Waldorf=Astoria, November 15-17 for REITWorld: NAREIT's Annual Convention for All Things REIT. REIT executives attend REITWorld to meet with real estate investors and service providers to discuss industry trends, investment principles, and the current market environment.
REITWorld registration is open to the public and provides all attendees the opportunity to get to know the senior leadership teams of participating REITs and to gain deeper insight into the publicly traded real estate market, REIT company positionings, and the future directions they are taking.
Moderator: Bryce Blair, Chairman and CEO, AvalonBay Communities, Inc.
2009 NEHRP Provisions (FEMA P-750 and FEMA P-750 CD) Now Available in Print and Online!
The Department of Homeland Security’s Federal Emergency Management Agency (FEMA) is pleased to announce that the 2009 edition of the NEHRP Recommended Seismic Provisions for New Buildings and Other Structures, FEMA P-750 and FEMA P-750 CD, are now available, at no cost, from the Publications Warehouse and online from the FEMA Library.
One of the goals of the National Earthquake Hazards Reduction Program (NEHRP) is to encourage design and construction practices that reduce the seismic risk to property and life. FEMA’s publication of the 2009 NEHRP Provisions, which serve as a national resource for design professionals and the standards and codes development community, is a major ongoing commitment to achieving this goal.
In a series first published in 1985, the 2009 NEHRP Provisions marks the seventh update of this key resource document. This new edition adopts by reference the national load standard, ASCE/SEI 7-05, which allows the Provisions to resume its role as a research-to-practice resource for introducing new knowledge, innovative concepts, and design methods to improve the national seismic standards and codes.
Consensus-approved technical modifications of the seismic requirements in the reference standard. The modifications include the adoption of new seismic design maps based on seismic hazard maps issued in 2008 by the U.S. Geological Survey (USGS), along with some design-related adjustments.
Completely rewritten, up-to-date commentary for the reference standard.
Series of resource papers that focus on emerging seismic design concepts and methods for exposure to and trial use by the design community and on issues that have proven historically difficult or complex to adequately codify.
The accompanying CD (FEMA P-750 CD) contains the digital version of the Provisions, the USGS Seismic Design Maps, the Provisions-based design maps proposed to ASCE7-10 and 2012 I-codes, and other supporting materials.
To order your copy of FEMA P-750 with FEMA P-750 CD from the FEMA Publications Warehouse, call 1 (800) 480-2520 or fax your request to (240) 699-0525.
To view or download other NEHRP publications and products or to sign up for updates on earthquake risk mitigation publications, news, and events, visit Earthquake Publications and Tools.
Welcome to APARTMENTS 2010 – the leading networking event for the multifamily real estate industry!
When it comes to securities fraud litigation, the BankAtlantic Bancorp trial slated for jury selection Friday could be dramatic. If the trial moves ahead as scheduled, it will be only the 12th since Congress clamped down on shareholder lawsuits in 1995, attorneys in the case say. The jury will be asked to decide whether BankAtlantic Bancorp CEO Alan Levan's statements about nonperforming loans on the watch list at the bank with $4.6 billion in assets were intentionally false and deceiving.
introduction to Online Lead Generation. Today, over 87% of all real estate transactions start online !
from 1:00pm – 2:00pm. Hope to see you there !!
City of Culver City, Pasadena, Lynwood and many others.
Stabilizing operating conditions, firming values and strengthening recovery rates will inspire lenders to increase their disposition of distressed properties, though a flood of liquidations will not occur. Many lenders extended loans or warehoused reclaimed assets through the downturn, waiting for values and operations to improve before taking REO properties to market. As buyer activity has increased this year, lender confidence has improved, and more lenders have begun moving distressed assets to market. Distressed sales activity during the first half of 2010 nearly tripled the activity levels recorded in the same period in 2009, with assets under $5 million comprising over 80 percent of the transactions. This controlled liquidation will continue over the next year as lenders clear their balance sheets of bad commercial real estate debt, whether through note sales, short sales or REO dispositions.
Please don't delay--register today! Questions? Contact Thom Amdur at 202-939-1753 or tamdur@housingonline.com or Greg Sidorov at 202-939-1773 or gsidorov@dworbell.com.

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