Paul Mattingly, chair of Seyfarth’s Real Estate department, and Thomas Michaelides, Real Estate associate, will present the Strafford webinar "Real Estate Provisions of the 2021 Appropriations Act: Emergency Rental Assistance and Extended Eviction Moratorium – Grants for Shuttered Venue Operators, Depreciation of Certain Residential Rental Property, Housing Cooperatives" on March 30, 2021.
This webinar will provide real estate counsel with advice and guidance on the $2.3 trillion Consolidated Appropriations Act 2021 (CAA) provisions that relate directly to real estate, particularly leasing. The panel will address the provisions that provide rental assistance and the extent and restrictions on the current eviction moratorium. Real estate counsel will be advised on the types of grants available for commercial property owners of closed venues and the new tax depreciation for residential rental properties.
Congress has extended both the eviction moratorium and rental assistance program. The regulations for applying for this assistance and qualifications are limited, and tenants should not presume any provision of the 2021 CAA will apply to them. Counsel must prepare to assist tenants in securing properties and current landlords in understanding its impact. On the consumer side, the current CAA provides several provisions that extend depreciation to residential rental properties.
Additionally, the 2021 CAA provides limited grants for closed commercial venues to access federal funds and extend the real estate provisions to housing cooperatives. Real estate counsel will need to be aware of the grant requirements to assist clients seeking funds to remain on a property while closed.
The panel will address landlord and tenant concerns related to how appropriations can assist clients in remaining in properties while seeking federal funds.
The panel will review these and other important issues:
How has the CAA extended the eviction moratorium, and what are the restrictions?
What type of rental assistance is available under the CAA, and what are the qualifications for receipt?
What grants are available for closed venues, and what is the process for application?
How has the CAA extended the depreciation of certain residential rental properties?
How has the extension of CAA benefits impacted housing cooperatives?