Development, Financing and Other Property News from Colorado's Leading Real Estate Law Firm
A client recently raised concerns regarding a potential change in property tax assessment methodology that may be upcoming in the next Colorado state legislative session. With revenues continuing to decline, local governments are seeking opportunities to capture property taxes from new sources. The issue concerns residential property owners claiming an agricultural tax classification without having
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Last month the Town of Berthoud, Colorado approved a mixed use development known as PrairieStar. The development is anticipated to contain residential housing, a school, a research and development facility, an equestrian center, retail and business components, and, most notably, a 25 acre solar farm. Developers of the project, Scott Sarbaugh and partner Richard…
Residents of the northern Douglas County City of Castle Pines North, or Castle Pines as it’s now known, voted on Tuesday to abolish the City’s recently established urban renewal authority. The yes votes on Question 300 outnumbered the no votes by almost 2 to 1. In abolishing the City’s urban renewal authority, residents decided not…
Despite today’s economic reality, real estate developers should consider the unique opportunities of pursuing land use entitlements now. While there is expense entailed in pursuing annexation, zoning, subdivision and related approvals, many jurisdictions are experiencing a significant drop in tax and fee revenues due to reduced development activity. Accordingly, developers who are able to pursue…
The Federal Housing Finance Authority (“FHFA“) is proposing new guidance on transfer fee covenants for Fannie Mae, Freddie Mac and the Federal Home Loan Banks, restricting such entities from dealing in mortgages on properties encumbered by such covenants. Typically, transfer fee covenants direct a specified percentage of the sale price on real estate encumbered by the covenant to an individual…