Lender Relies on Larkin Hoffman to Protect Property from Default and Reposition it for Development

03/08/2013

A national lender took control of property after a large mixed-use project failed due to the national economy. By that time the property was encumbered by multimillion dollar tax and assessment obligations, a substantial portion of which were delinquent, the property had been exposed to forfeiture. The firm’s Real Estate, Land Use and Government Relations teams helped our client develop a strategy for avoiding tax forfeiture while securing municipal support for a creative public finance plan that enables the client to pursue a significant taxable use of its property, while meeting the existing tax obligations.