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Economic Development


The Tax Cuts and Jobs Act of 2017 (the “Act”) provides for the designation of certain low-income community population census tracts as qualified opportunity zones and creates some tax incentives for those that have capital gains they would like to roll over into another investment on a tax-deferred basis to encourage investment in such qualified opportunity zones.
As a result of Louisiana’s continuing budget woes, Governor John Bel Edwards’ administration has conducted a review of the economic impact and effectiveness of the state’s generous economic development incentives.
Landowners, lenders, contractors and title agents should familiarize themselves with the new requirements. Land title surveys are performed for a number of reasons by land owners, purchasers and lenders. The surveys generally: confirm the validity of the legal description of the property; identify the relationship of the property to adjoining properties; confirm the relationship of the recorded description of the property lines to the measured description of the property lines; identify the location of buildings and other improvements; and identify the location of easements or rights set out in recorded documents and by an inspection of the property which may reveal matters not of record.
In the most recent edition of Southern Business and Development, the 2015 Best of Economic Development in Louisiana were named in a series on “The Best of Economic Development in the American South.” In covering everything from Louisiana’s Three Best Assets to Louisiana’s Three Best Restaurants, the law firm of Adams and Reese was named as a 2015 Best Economic Development Law Firm.
Court rules that actions that disproportionally affect minority groups can support lawsuits under the Fair Housing Act. The U.S. Supreme Court recently ruled that certain actions that adversely affect minorities in poor neighborhoods violate the Fair Housing Act (FHA), even if there is no proof that discrimination was intentional.
"EB-5 Financing for U.S. Developers and Businesses" - Lexology, author: Adams and Reese attorney Christopher Kane, March 7, 2014
"Federal Grants: A Strategic Approach for Project Funding" - Published in the Alabama Municipal Journal, September 2013, Author: C. Britton Bonner, attorney, Adams and Reese
P3s are contractual agreements formed between a Florida public agency and a private sector entity. The law creates a process for greater private sector participation in the delivery and financing of public building and infrastructure projects. P3 agreements will provide for shared skills, assets, resources, risks, and rewards by both private and public sectors for the delivery of a service or to create a facility for public use. "The signing of this legislation further ensures that Florida is a pro-business state, and that we will not stop until every Florida family has the opportunity to live their version of the American dream," said Florida Governor Rick Scott.