Redevelopment tax increment financing in California was eliminated by Governor Brown and the State Legislature in 2011. This new legislative development poses a major financial setback for local governments and local businesses. Nonetheless, there are alternative means of financing urban development projects. Our firm has developed cutting-edge programs for economic development and local business outreach. For example, Tax Credit Allocations, California Infrastructure and Economic Development Bank (I-Bank), special financing districts, public or private bonds, tax sharing agreements, business improvement districts, and other infrastructure financing mechanisms are all viable alternatives to redevelopment funding.
In terms of redevelopment dissolution, we have also had much success in negotiating satisfactory financial outcomes for cities dealing with the State Department of Finance (“DOF”) through the redevelopment dissolution process. We are actively working “outside the box” to find ways to move forward with economic development notwithstanding the elimination of traditional redevelopment agencies.
We also have significant expertise in laws applicable to the disposition of public agency property, including compliance with the California’s Surplus Land Act (SLA) (Government Code sections 54220 to 24234). We have advised our public agency clients on how to navigate SLA procedures to either find applicable exceptions to the SLA or advertise property to affordable housing developers, local park and recreation districts, or school districts, as applicable. Our Firm has further overseen or handled all negotiations with such parties when legally required. When appropriate, we have guided our clients on properly terminating the negotiations to allow the public agency clients to proceed with their plans to leverage the properties for economic development uses.
We have attempted through award-winning projects to help our cities meet the strong state legal mandates encouraging the provision of low and moderate income housing. Our experience extends to all areas of commercial real estate, which allows us to assist the client in developing creative strategies and negotiating and documenting successful transactions. Our expertise includes acquisitions, financing, development and leasing for commercial, retail, industrial, and office projects. In addition, our in-depth knowledge of title insurance and underwriting practices and escrow/settlement services (including strong relationships with senior underwriters with the major insurers) allows us to successfully and efficiently consummate transactions.
We also specialize in eminent domain, inverse condemnation and property valuation law. The Firm's attorneys have handled numerous eminent domain and property valuation matters. These have included cases involving freeway and road projects, government buildings, schools, shopping centers, car dealerships, public utility facilities, dams and water projects, natural gas pipelines, oil drilling projects, redevelopment projects, low-mod housing projects, and etc. Our attorneys become involved in the process from the inception, at the valuation level, and using their experience provide the client with sound advice from the beginning.
Finally, with its own public finance specialty area, the Firm is one of the few which can offer attorneys with expertise in financing innovative projects.
Expertise in Action
Aleshire & Wynder has negotiated, overseen and documented various complex economic development transactions, yielding tremendous value for our clients. Examples of such transactions include the negotiation of a $100 million cleanup of a landfill and for the conversion of the 157 acre site to a $1 billion outlet, entertainment, and retail center, and negotiations of a transaction for a $1.8 billion NFL stadium in the City of Carson. We also have negotiated and drafted documentation for a multitude of auto centers and individual auto dealer transactions, commercial town center projects, mixed commercial/residential projects, big box centers, entertainment complexes, neighborhood commercial projects, grocery/drug store complexes and industrial complexes.
We were instrumental in the negotiation and documentation of a 2.5 million square foot award-winning Trammel Crow industrial/commercial project in Irwindale on a refilled former mining pit. For the Cities of Signal Hill and Banning, we crafted new “Economic Development Program” ordinances to incentivize tax sharing and other commercial development incentives.
Our attorneys specializing in this area are also experienced in the formation of Community Facility Districts, special tax vehicles, assessment districts, and facility improvement districts. Our expertise allowed the City of Banning to progress with key downtown mixed-use project despite redevelopment dissolution due to negotiations between Aleshire & Wynder and State Auditor-Controller. We were also instrumental in enabling the City of Signal Hill to retain and expand major job-generating Office Depot operations through tax sharing incentives.
Our attorneys are experienced in ground lease or sale of publicly-owned land, development agreements, design-build, lease-leaseback, and eminent domain. We also have experience in lease revenue bonds, industrial development bonds, private activity bonds (for market-rate and affordable housing), and certificates of participation.