Here's what's on our mind.
Court Decision Favors Businesses Claiming Insurance Coverage for COVID-Related Losses
Companies across the state, and around the country, have suffered significant loss of income due to interruptions to their business caused by the spread of COVID-19 and the ensuing government-ordered closures. These companies have been disappointed…
Portland City Council Passes the Residential Infill Project
Back in 2019, I wrote a blog post discussing how allowing so-called “middle housing” – duplexes, triplexes, and quadruplexes – could help alleviate Portland’s affordable housing crisis. The more units you have on a piece of land, the more you can…
Real Estate Adapts to the New COVID Normal
Like most other industries, the real estate business was turned upside-down in March when the COVID-19 outbreak got real. Now that five months have passed and life with COVID-19 appears to be the new normal, some real estate trends are starting to…
Three Overlooked Ways to Reduce Development Costs
A recent study evaluated three overlooked steps that developers can take that will often result in surprising savings in development costs. The study focused on the development of wind energy generation facilities, but the lessons offered seem…
IRS Proposes New 1031 Regulations – Sculptures Are Real Property, Walls Are Not
The IRS issued Proposed Regulation 117589-18 on June 11, 2020 (the “Proposed Regs”), in response to legislative changes applicable to like-kind exchange transactions (“1031s”). The Proposed Regs address transactions involving both real property and…
Oregon Clarifies State Jurisdiction Over Solar Energy Projects
On June 30, 2020, the Oregon Energy Facility Siting Council (EFSC) issued a permanent administrative order adopting rule changes to hopefully clarify when new solar energy projects in the state must get a land use permit from EFSC.
Top Three Investor-Friendly Rules from the Newest IRS Opportunity Zone Notice
The IRS issued Notice 2020-39 on June 5, 2020 in response to the COVID-19 pandemic, which extended several deadlines applicable to Opportunity Zone investments.
Portland's Residential Real Estate Market Responds Surprisingly to COVID-19
The COVID-19 health crisis has indelibly affected society, impacting our behaviors, habits, and priorities. Unlike previous recessions, our relationship to spending and saving may be markedly different in our current circumstance. One clear example…
New Law Prohibits Foreclosures in Oregon Until September 30, 2020
During the special session held between June 24 and June 26, the Oregon legislature passed, and Governor Brown signed into law, HB 4204, which prohibits foreclosures in Oregon from March 8, 2020 until September 30, 2020. It applies to both…
Oregon Legislature Extends Eviction Moratorium to September 30
On June 26, state lawmakers approved House Bill 4213 extending Governor Brown’s executive order temporarily prohibiting evictions of both residential and commercial tenants for non-payment of rent or other charges under a lease. Under the Governor’s…
Force Majeure Clause Hitz the Spot for Restaurant Tenant
In previous updates Tonkon Torp attorneys have addressed the applicability of force majeure clauses in commercial contracts. As expected, commercial renters are taking a beating, and many have been forced to close as a result of the pandemic.
The Battle Continues Between Residential Landowners and Industrial Polluters
In April, the U.S. Supreme Court published their opinion in Atlantic Richfield v. Christian, further tangling the rules of engagement in the fight between residential property owners and industrial polluters.
More Proof that Environmental Site Assessments Are Critically Important in CERCLA Cases
In 1980, Congress enacted the Comprehensive Environmental Response, Compensation, and Liability Act (“CERCLA”), frequently referred to as Superfund. This legislation was passed in response to mounting concerns regarding releases or threatened…
COVID-19 Creates Short-Term Liquidity Problems in Commercial Real Estate
It is the first day of May, and in normal times the rent would be due again. But these are far from normal times, and in many cases the likelihood that rent will actually be paid (or paid in full) is quite low. As tenants search their couches for…
COVID-19 Relief for 1031 Exchanges: Deadlines Moved to July 15, 2020
On April 9th, the IRS released Notice 2020-23. The Notice pertains to Section 1031 like-kind exchanges to defer capital gains tax on the sale of real property. Under the Notice, the 45-day identification deadlines and 180-day exchange deadlines that…
Coronavirus and Commercial Evictions: Oregon’s New Moratorium
On April 1, 2020, Oregon Governor Kate Brown issued Executive Order 20-13, expanding certain coronavirus-related eviction protections to include commercial tenants. This order follows a series of emergency moratoria issued by Governor Brown, the City…
COVID-19 Crisis Renews Interest in e-Notarization
Remote online notarization of documents, often called e-notarization, permits the execution of notarized documents via an audio-visual link between the signer and the notary. This eliminates the need for the signer and notary to be physically present…
Commercial Real Estate and the Coronavirus Stimulus Bill
On Wednesday evening the Senate passed a $2 trillion stimulus package. What follows are some of the highlights of the bill that are most pertinent to commercial real estate.
Will Financial Impacts from COVID-19 Pandemic Suffice to Breach a Contract Under a Force Majeure Clause?
Force majeure clauses in contracts are intended to allow performing parties to avoid liability if certain natural or unavoidable events or catastrophes interrupt the expected course of events and impact the parties’ ability to perform.