Real Estate Q & A: Is a commercial tenant responsible for back rent due to calculation error? This week’s legal rub: A landlord miscalculates the total square-footage upon which monthly rent is based. Four years later the landlord discovers the error and delivers a demand to the tenant, effectively saying, “You owe me.” Rose Law Group Real Estate Litigation Department Chairman, Adam Martinez, explains whether the “landlord is entitled to the difference between the correct rent and the amount the tenant has paid,” in Rose Law Group Reporter. http://bit.ly/2nbY4G1
TGen to buy downtown Phoenix research building from city. “City Council on Wednesday unanimously approved selling the [six-story] building [at Fifth and Polk] to the Translational Genomics Research Institute… with no discussion…. [TGen] focuses on using genetics to develop disease diagnostics and treatments.” More on the transaction at AZCentral. http://bit.ly/2nsdVSX
DOUBLE DENSITY – Zoning approved for controversial Scottsdale condos. “[C]ouncil approval… will shift the land [near Dove Valley and Scottsdale] from commercial… to medium-density residential… despite petitions, with more than 600 signatures, that had objections from neighboring residents…. The plan [for ‘Scottsdale Heights’] calls for 5.57 units per acre, which is more than double the density of some neighboring developments [and ‘under the new zoning… up to 12.93 units per acre would be allowed’]. See “reasons for the yes vote” and view an aerial rendering (and judge for yourselves how dense it is) — at AZCentral. http://bit.ly/2nNhS5s
30-acre shopping center one step closer to coming to south Peoria, to be anchored by Fry’s Marketplace. “The Planning Commission recommended a request [from Empire Residential Communities Fund] for a Minor General Plan Amendment and rezoning from Intermediate Commercial and Multi-Family Residential to the Olive Crossroads [PAD]… The center [is] located at the [SW] corner of 83rd and Olive avenues…” YourWestValley has more on Olive Crossroads including a bird’s-eye view of the site. You can’t miss it; it’s a big red-colored parcel right next to the words ‘Bowling Alley.’ Check it out! http://bit.ly/2nHG60u
Trump budget cuts loan program sought by Lucid. “The… company is pursuing a loan from the U.S. Energy Department’s Advanced Technology Vehicles Manufacturing program to develop a $700 million production facility…” However, according to Pinal Central (citing a Washington Post report): “[The] federal loan program that could assist Lucid… in building its electric car assembly plant in Casa Grande is not included in President Donald Trump’s proposed budget.” Will this short-circuit Lucid’s plans? —> http://bit.ly/2o9ARmR
Casa Grande council members optimistic about Dreamport project. (Disclosure: Rose Law Group represents the developers of Dreamport Villages.) “The City Council received a thorough briefing Monday night on [the] proposed 1,500-acre recreation resort… in advance of a pending decision to approve a land-use request for the property [at the I-8 and I-10 junction]….” Read coverage of the briefing along with some of the upbeat comments, in Pinal Central. http://bit.ly/2mYTc64
Queen Creek Impact fee draft study could be posted April 6. Why “couldbe”? Because even though “[m]embers of the… Town Council agree there needs to be an increase in… transportation impact fee rates… they disagree about [when] the rate increase draft study document will be released for the public to view…” Further details on impact fees, including what it will take to increase this one (it’s a two-phase, 11-month process); plus, what COULD BE the “calendar for public hearings and community involvement” on the matter — at Pinal Central. http://bit.ly/2mV9goE
‘We just want our house back; Residents speak out on Casa Grande historic district. “More than a dozen people took turns addressing the council, some vocalizing their support of keeping the [Evergreen Historic District] and others asking for some changes. The general concern… was that the district’s rules interfere with a homeowner’s right to make exterior changes to the property.” If you’ve ever wondered what a “Certificate of No Effect” is or a “Certificate of Appropriateness,” and under what circumstances they apply, then this Pinal Central piece is for you. http://bit.ly/2nHV46U
Feds scrutinize Navajo housing agency; new records suggest remodeling costs $1M per unit. “[HUD] officials visited the reservation [in] mid-March after seeking information on flawed or failed Navajo Housing Authority construction projects…The Republic… found the NHA, which has received more than $1.66 billion in federal funds since 1998, built fewer than 300 new residences in the past five years…. As the new federal inquiry was being launched, The Republic obtained records of other questionable expenditures….” Here they are —> http://bit.ly/2mVgkBr
Home prices slam on the brakes after 5-year run. From Mortgage News Daily: “After posting a monthly price increase in all but one month since early 2012, the Federal Housing Finance Agency reported on Wednesday that its House Price Index… remained unchanged in January.” Tap through for HPI data along with a breakdown by census division (“three of nine… saw prices decline from December to January”). http://bit.ly/2mV4uaA
As a supplement to the Dealmaker, we thought you might enjoy these articles!
Range of factors combine to keep state on ‘solid’ job growth pace. And one factor this Cronkite News piece points to? “[President] Trump’s rhetoric on limited government” which has “increased private-sector confidence.” Cronkite News is quick to add, however, that “the latest numbers [which put us ‘near the top of states for job growth’] are a continuation of a national economic climb that began midway through the Obama administration.” Click through for the other factors and get the job numbers which White House spokesman Sean Spicer says “may have been phony in the past, but [are] very real now.” —> http://bit.ly/2o9sx6GAs ‘Obamacare’ repeal vote looms, here’s where Arizona lawmakers stand. “Most of Arizona’s congressional delegation appears to oppose the Republican plan to repeal and replace the Affordable Care Act… Democrats oppose the GOP’s American Health Care Act outright, and most of the state’s Republicans saw the plan as insufficiently conservative. AZCentral looks at “where the… delegation stands so far” and has info on “how to reach all of them.” http://bit.ly/2o9qLlY
APS customers raise concerns about potential rate hike at Arizona Corporation Commission hearing. “Tempers flared at Wednesday’s public hearing over a proposed rate hike… [that] would raise monthly bills by about $6 a month for a typical user.” (And some of the remarks from APS customers were so HEATED, it makes you wonder if they might see a charge for it on their next bill!) At Cronkite News. http://bit.ly/2o9v4Og
State election chief seeks new funds for hobbled campaign finance website overhaul. “[A]fter spending $494,000 in 2015 and 2016 to create a new campaign finance reporting website that never saw the light of day, [Arizona Secretary of State Michele Reagan’s] office is now asking the Citizens Clean Election Commission to pay $200,000 of an estimated $462,000 cost to develop a new… website, plus $50,000 per year in maintenance.” Evan Wyloge at Arizona Center for Investigative Reporting looks into what’s behind this ‘mindset.’ http://bit.ly/2mV9SKV
Court rejects cases on Navajo Generating Station impact. A three-judge panel of the 9th… Circuit… turned away an argument by environmental groups that the [EPA] cut corners when it developed its plan to regulate nitrogen oxide emissions from the plant to reduce regional haze. The same panel rejected a separate claim by the Hopi Tribe that it was improperly left out of discussions on the federal emissions plan, which calls for the plant to ultimately close by 2044 at the latest.” For the impact of these rulings and reactions to them, click to Cronkite News. http://bit.ly/2nbZAbb
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