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Earlier this year, the Legislature enacted SB1271, which made a number of changes to the Purchaser Dwelling Act (the “PDA”). The PDA governs construction defect litigation involving single-family and multi-family homes. SB1271 went into effect on August 27, 2019.
The legislation arose out of recommendations from the Construction Liability Apportionment Study Committee. This committee was established by the Legislature in 2018 to study how liability for construction defects is apportioned and recommend changes to the law. SB1271 was the committee’s final product.
The new law makes the following changes to the PDA and construction-defect litigation:
Indemnity: One of SB1271’s foremost goals is to apportion liability for construction defects based on each party’s own share of fault for that defect.
Congratulations to Gammage & Burnham clients Greenwood Brewing and Made, LLC on the land use entitlement approvals for Greenwood Brewing Brewery & Taproom! We are happy to be part of helping Megan Greenwood, Greg Esser and Cindy Dach bring a unique combined microbrewery and art space to Roosevelt Row.
Gammage & Burnham partner Manjula Vaz and associate Mike Maerowitz recently secured approval of land use entitlements for Greenwood Brewing Brewery & Taproom coming to Roosevelt and 5th Street in downtown Phoenix. This new adaptive reuse project will serve locally brewed beer in a welcoming bar and beer garden environment at Roosevelt and 5th Street.
Posted by Chris Raddatz
The Internal Revenue Service (IRS) released its second batch of guidance late last month regarding “opportunity zones.” Opportunity Zones were created as part of the Tax Cuts and Jobs Act of 2017 to incentivize investment in designated, economically distressed communities. The 169 pages of proposed regulations provide additional guidance to investors, fund managers and others seeking to bring equity capital to operating and real estate businesses within the OZs.
While many investors and fund managers have been active in investing in the OZs, the lack of regulatory guidance has somewhat limited the activity, especially as to operating businesses (versus real estate investment).
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