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The Experts below are selected from a list of 9372 Experts worldwide ranked by ideXlab platform

Seow Eng Ong - One of the best experts on this subject based on the ideXlab platform.

Christopher K Odinet - One of the best experts on this subject based on the ideXlab platform.

  • how will trump s tax reform affect Real Estate investments and capital markets
    2017
    Co-Authors: Christopher K Odinet
    Abstract:

    This article gives a brief overview of how changes to the federal tax code, as envisioned by the Trump administration and the Republican-led Congress, will impact Real Estate Finance in the U.S.

  • super liens to the rescue a case against special districts in Real Estate Finance
    2015
    Co-Authors: Christopher K Odinet
    Abstract:

    In a time of limited resources and sluggish economic growth, competition between cities has become palpable, and the race for new investment often dictates the public agenda. To that end, the explosive growth of public-private partnerships between local governments and private investors has resulted in the creation of a myriad of special taxing districts, the purposes of which are limited only by the imagination. Of particular concern has been the growth of certain Real Estate development-related districts. Although first conceived to fund critical improvements where conventional credit was not available, in more recently years these special districts have been used to Finance improvements for private developments in areas that do not suffer from economic distress in the least.Of particular note, because special district assessments constitute super liens that are accorded priority on par with Real property taxes, existing rights of secured parties are unjustly subordinated to the rights of the special district (the board of which is often controlled by the developer himself). This impact on priority has an adverse effect not only on the property rights of pre-existing lien creditors, but also on the overall availability of credit as lenders become more hesitant to make Real Estate-backed loans in special district areas (particularly low-income and blighted areas), and community lending as a whole suffers.This Article argues for the reconsideration of the widespread delegation of municipal power to Real Estate-special districts by analyzing the private benefit-oriented nature of these public-private financing devices. This Article concludes by urging courts to adopt a flexible two-pronged test for the equitable subordination of special district liens. In adopting such a test not only are the property rights of private parties accorded needed protection, but also the legitimate use of Real Estate-related special district financing, including community lending more broadly, is preserved.

Piet Eichholtz - One of the best experts on this subject based on the ideXlab platform.

Darien Shanske - One of the best experts on this subject based on the ideXlab platform.

  • local government Finance as integrated system the uneasy case for using special districts in Real Estate Finance a response to odinet s super liens to the rescue a case against special districts in Real Estate Finance
    2015
    Co-Authors: Darien Shanske
    Abstract:

    Local governments have long used special financing districts to build infrastructure. If a local project, say building a pocket park, is likely to increase the values of properties very close to the park, then why should those properties not pay for the park in the first place? Though efficient and fair in many cases, the use of these districts can also be problematic. For instance, it seems likely that wealthier residents, with higher property values to leverage, are especially likely to use these districts effectively. It has also been the case that developers have used these districts speculatively, which had serious repercussions during the last recession. Christopher Odinet develops an additional, and important, critique of these districts. Odinet observes that these districts obtain a lien on benefiting properties, and that this lien takes priority over the liens of conventional lenders. Odinet then argues that this super-priority should only be honored if the district has served some substantial public purpose. In this short Response, I agree with Odinet that these districts are problematic, but wonder whether his solution is the best one. This is because traditional lenders will generally know about these districts before lending. Furthermore, his solution only kicks in if there is an event of default, which is unusual, and thus this solution does not do much to counter the run of the mill socio-economic stratification that these districts often enable. I argue that an ex ante approach limiting the use of these districts therefore seems preferable. I conclude with the argument that, despite all their flaws, these districts should not be abolished outright. Local government Finance is a dynamic system and the absence of any tool, even one prone to abuse, can have severe consequences, as illustrated by the recent history of California.

  • local government Finance as integrated system the uneasy case for using special districts in Real Estate Finance a response to odinet s super liens to the rescue a case against special districts in Real Estate Finance
    Washington and Lee Law Review Online, 2015
    Co-Authors: Darien Shanske
    Abstract:

    Local governments have long used special financing districts to build infrastructure. If a local project, say building a pocket park, is likely to increase the values of properties very close to the park, then why should those properties not pay for the park in the first place? Though efficient and fair in many cases, the use of these districts can also be problematic. For instance, it seems likely that wealthier residents, with higher property values to leverage, are especially likely to use these districts effectively. It has also been the case that developers have used these districts speculatively, which had serious repercussions during the last recession. Christopher Odinet develops an additional, and important, critique of these districts. Odinet observes that these districts obtain a lien on benefiting properties, and that this lien takes priority over the liens of conventional lenders. Odinet then argues that this super-priority should only be honored if the district has served some substantial public purpose. In this short Response, I agree with Odinet that these districts are problematic, but wonder whether his solution is the best one. This is because traditional lenders will generally know about * Professor of Law and Political Science, U.C. Davis. All mistakes are my own. 192 71 WASH. & LEE L. REV. ONLINE 191 (2015) these districts before lending. Furthermore, his solution only kicks in if there is an event of default, which is unusual, and thus, this solution does not do much to counter the run of the mill socioeconomic stratification that these districts often enable. I argue that an ex ante approach limiting the use of these districts therefore seems preferable. I conclude with the argument that, despite all their flaws, these districts should not be abolished outright. Local government Finance is a dynamic system and the absence of any tool, even one prone to abuse, can have severe consequences, as illustrated by the recent history of California.

David Geltner - One of the best experts on this subject based on the ideXlab platform.

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