The Internal Revenue Service, in Revenue Procedure 2016-44, has loosened the restrictions on safe harbors for management contracts entered into by governmental issuers of tax-exempt bonds in connection with facilities financed by such bonds. The revenue procedure, which will be published in the Internal Revenue Bulletin on September 6, 2016, is a welcome development for
real estate
Real Estate Matters in Monetizing Municipal Assets
I recently published an article in The Legal Intelligencer titled, “Real Estate Matters in Monetizing Municipal Assets.” From the article:
Municipalities under financial pressure from rising budgetary costs and long-term obligations are increasingly looking for options to “monetize” publicly owned assets through transfers to private entities. Especially attractive are municipal water and wastewater systems. With
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Two Down, One to Go: Harrisburg School District Approves 10-Year Tax Abatement Program
Nearly two years after Harrisburg Mayor Eric Papenfuse first proposed it, the Harrisburg School District has approved a new, ten-year tax abatement program for residential and commercial development in the city.
As reported by The Patriot News:
The program would provide a 100-percent tax break for 10 years to improvements on residential properties
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