From left: Steven Mnuchin and Steve Wynn (Credit: Wikipedia) Steve Wynn is a fan of Opportunity Zones, too, evidently. The disgraced casino mogul met with Treasury Department officials last June to discuss the federal tax incentive program for developers, just as the agency was writing new rules for the program, according to the Wall Street […]
Ben Carson says HUD will give preference to developers who build affordable housing in Opportunity Zones
Ben Carson and a map of opportunity zones (Credit: Getty Images) Housing and Urban Development Secretary Ben Carson said the agency will give preference to developers and investors who build affordable housing in federal Opportunity Zones when it comes to certain grants. In an interview with The Real Deal on Tuesday, Carson said HUD will […]
Newsom walks back plan to withhold dollars from cities that don’t meet housing goals
California Governor Gavin Newsom couldn’t overcome resistance from state Democrats (Credit: Wikimedia and Flickr) Governor Gavin Newsom is pulling back on one of his most radical solutions to the state’s growing housing crisis. On his third day in office, Newsom said he planned to withhold state transportation dollars from municipalities that fail to hit state-sanctioned […]
Developers decry city decision to prohibit seizing homeless’ possessions along Skid Row
A tent on Skid Row The Los Angeles City Council agreed to settle a three-year-old lawsuit, effectively surrendering the city’s ability to seize without notice the possessions of people living on the streets. Property owners and developer say the decision will discourage real estate development in Downtown L.A.’s Skid Row and will present health and […]
FBI opens Miami task force to shut door on foreign corruption, money laundering
Miami river skyline (Credit: iStock) The FBI is looking to clamp down on foreign corruption with a new task force in Miami, a city that has long served as a gateway for illicit money laundering. The squad will concentrate on Miami and on international corruption in South America, according to the Associated Press. The FBI […]
White House allows Americans to sue for seized Cuban properties
President Donald Trump and a map of Cuba (Credit: Getty Images and iStock) Americans are now able to sue about 200 Cuban companies that control real estate previously confiscated by the Cuban government. The White House plans to announce the decision Monday, as part of a partial implementation of Title III of the Helms-Burton Act […]