Insights

On June 24th, the Ohio Senate concurred in the Ohio House amendments and passed Amended Senate Bill 4 (S.B. 4), which will now be sent to Governor DeWine for his signature. 

On May 28, 2020, the Ohio Board of Tax Appeals (BTA) issued a decision in Columbus City Schools Dis. Bd. of Edn. v. McClain, et al. (May 28, 2020), BTA No. 2018-649 that reverses real property tax exemptions for permanent supportive housing facilities.

JobsOhio, the private nonprofit economic development organization in Ohio, is developing a new initiative named the Ohio Site Inventory Program (OSIP).

On April 21, 2020, the Ohio Supreme Court (the Court) ruled that the primary use of a barn, rented out for various social events, including weddings, was to facilitate the sale of wine cultivated and produced on the land.

The COVID-19 pandemic has disrupted both our health and our economy. JobsOhio and ODSA are helping businesses cope. 

Commercial landlords should consider communications with commercial tenants who may be eligible for forgivable loans through the CARES Act.

The CARES Act provides relief for residential mortgage holders—both individuals and multifamily borrowers—and tenants, as well as credit reporting protection.

On Friday, March 27th, Governor DeWine signed House Bill 197 (H.B. 197), which enacts several provisions in response to the COVID-19 pandemic. Among the provisions, the new law permits the use of electronic communications in lieu of in-person meetings during the emergency declared by the Governor’s Executive Order 2020-01D (but not beyond December 1, 2020).

The Vorys real property tax team is monitoring the COVID-19 pandemic’s effect on property tax filings and deadlines. 

In this time of broad government actions due to a declared pandemic emergency, it is important to examine your incentive agreements to understand the potential risks your company faces if your company is unable to perform key obligations. 

In the event of government action due to a declared emergency such as a pandemic, performance under construction contracts may become delayed or impossible.

In this edition of Development Incentives Quarterly, we welcome Steve Glickman, founder and CEO of Develop LLC, an advisory firm dedicated to building and supporting Qualified Opportunity Zone (QOZ) Funds to transform low-income communities nationally.

This is the final installment of a two-part series covering the top 10 key points for professionals to understand about Opportunity Zones (OZs).

We welcomed in February more than 300 guests at Vorys’ fifth annual Economic Development Incentives Conference – again making it the nation’s largest conference focused solely on economic development incentives.

On December 19, 2019, two years after the federal Qualified Opportunity Zone (QOZ) program was enacted, the Treasury Department released final regulations providing guidance on how to apply the rules under this program.

This article outlines states/jurisdictions with upcoming real property tax appeal deadlines.

On December 17, 2019, Representatives Green and Skindell introduced a bill (H.B. 449) to apply the conveyance fee tax to transfers of a controlling interest in a pass-through entity that owns real estate.

In this edition of Development Incentives Quarterly, Thomas Bisacquino, the president and CEO of NAIOP, the Commercial Real Estate Development Association, joins us for a Q&A.  Tom answers questions regarding the most pressing issues facing commercial developers nationally and locally.