As we originally reported in our June 2022 Otten Johnson Alert, in June of 2022 Denver’s City Council passed a number of amendments to the municipal and zoning codes in an effort to expand affordable housing in the City. Denver’s Expanded Housing Affordability policy (the “EHA Policy”) included a period of time under which existing development projects could continue through the approval process under the prior regulations. On May 22, 2023, Denver’s City Council passed two bills extending certain approval process deadlines. While the concept plan submission deadline remains unchanged (June 30, 2022), the site development plan (“SDP”) approval process dates for projects to be evaluated under the prior regulations have been adjusted as follows:Continue Reading Denver’s City Council Extends Deadline Requirements for Developers While New Denver Mayor Pledges to Push for Affordable Housing
As we originally reported in our September 2018 Otten Johnson Alert, the London Interbank Offered Rate (“LIBOR”), once the primary benchmark used for floating rate commercial loans, is nearing its end. As of December 31, 2021 lenders stopped using LIBOR as a benchmark rate for new loans and one week and two month USD LIBOR rates were discontinued. All remaining USD LIBOR rates will be discontinued on June 30, 2023.
Continue Reading The LIBOR Act: A federal legislative solution for legacy contracts as LIBOR ends