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
Commercial Real Estate
Aspen City Counsel Extends Moratorium
By Mike Davidson on
On Tuesday, April 26, 2022, the Aspen City Council (the “Council”) voted to extend its residential moratorium on (i) any new land-use applications for development approval and (ii) certain building permits for residential uses. The original Ordinance #27 was enacted on December 8, 2021 and was originally set to expire on June 8,…
3D Printed Houses: The Potential for Positive Change in the Housing Industry
By Seth B. Weiland on
3D printers are already being used across industries to produce a number of products. A quick Google search provides an astonishing number of uses. One industry to keep an eye on is the housing industry and the use of 3D printers to build houses on-site.
Continue Reading 3D Printed Houses: The Potential for Positive Change in the Housing Industry
Work from Where?
By Otten Johnson on
The COVID-19 pandemic has accelerated remote work capabilities of many companies (including Otten Johnson), but is this a permanent change? Here are some major companies that provide a glimpse into the future of working from home:
Continue Reading Work from Where?
COVID-19 and the WELL Building Standard
By Brittany Wiser on
Posted in Commercial Real Estate, Real Estate Development
Now that states are starting to lift Stay at Home orders and people are beginning to return to work, many are concerned about the health and safety of their workplace environments. A recent article suggests that the COVID-19 pandemic will spur innovation and investment in healthy buildings. In January 2019, I wrote an Alert about…