City Of Los Angeles Moves To Increase Building Standards For New Construction

Yesterday the Los Angeles City Council adopted a motion entitled Building a Safer Los Angeles (“Motion”) that would significantly expand the fire rating requirements for new buildings and restrict the use of light wood-frame construction throughout large parts of the City of Los Angeles.  The Motion is broadly written and, contrary to some reports in the press, it does not call for exemptions based on building size or square footage.

In summary, the Motion directs City staff […]

By | Apr 21, 2021 ||

Making Sure The Ground Tenant Builds

Once the building on a ground-leased property is completed, the ground landlord has a very secure rent stream. While the rent under the ground lease is based on the value of the unimproved land, if the ground tenant defaults and the tenant’s lender does not step up and cure the default, the landlord’s remedy is to terminate the lease and to retain ownership of the land and the building free and clear of the […]

By | Apr 19, 2021 ||

“Build Back Better Plan” Expected To Be Released

President Biden’s promised infrastructure legislation, sometimes known by the slogan the “Build Back Better Plan” is still under wraps, but some information is beginning to leak out. According to the New York Times, in an article from March 22, 2021 (updated on March 25, 2021), the total package could be as high as $3 trillion, but would be structured in parts.

One part would address traditional infrastructure projects, such as roads, bridges, rail lines, ports, […]

By | Apr 17, 2021 ||