Carlile Patchen & Murphy LLP assists owners, buyers, sellers, builders, developers and financial institutions in all types of real estate transactions; from simple purchases or sales to multimillion dollar developments. Whether the project is a shopping center, apartment complex, office building, warehouse building, mixed-use or industrial development, Carlile Patchen & Murphy LLP has the experience to provide counsel in the structuring, zoning, acquisition, financing, construction, leasing, sale or tax-deferred exchange of that project.
Carlile Patchen & Murphy LLP can assist you with commercial leasing, condemnation, environmental issues, tax matters, syndication and title insurance, to name just a few. With the emphasis on financing today, in addition to conventional lending, we can also offer you experienced counsel when dealing with FHLM, FNMA, FHA, HUD, USDA, FHLB, the State of Ohio, Ohio Department of Development and mezzanine and conduit lenders as well.
Our firm has worked extensively with financial institutions, conduit lenders, insurance companies, mezzanine lenders, government authorities, private lenders and borrowers in a variety of commercial real estate transactions. Further examples of our areas of practice include: conventional mortgage financing; industrial revenue and development bonds; sale leasebacks and ground leases; multi-family housing revenue bond backed financing; HUD market-to-market and affordable housing programs; USDA section 538 loans and Federal Home Loan Bank programs; Ohio Housing Finance Agency and Ohio Department of Development programs; adjustable rate taxable securities; securitized loans; mortgage loan defeasances; and credit enhancements, including guarantees, letters of credit and swaps.
We act as counsel to both local and national real estate developers, owners and investors in additional areas, such as: acquisition and development of commercial properties, including office building, office parks, single-family and multi-family residential projects, medical office buildings, warehouses, retail centers, mixed use projects, hotels, condominiums and telecommunication sites; rehabilitation and renovation of existing projects; tax-deferred and tenants-in-common transactions; leasing and property management; land use issues including zoning, variances, planned-unit developments, transfers of development rights and historic preservation; and obtaining economic development incentives in order to renovate, purchase or construct projects including real estate tax abatements, community development incentives, job creation tax credits and tax increment financing.
Our title agency, Cornerstone Title Agency, LLC, is an agent for Old Republic National Title Insurance Company and First American Title Insurance Company, and provides a full range of title and closing services, including 1031 exchange and escrow agent services.
Real Estate And Construction
ECONOMIC DEVELOPMENT INCENTIVES
As a full service law firm, Carlile Patchen & Murphy assists clients to strategically leverage resources to meet their goals and objectives. We help clients grow their enterprise by taking advantage of federal, state and local incentive programs. We have extensive experience with State of Ohio economic development programs involving loans, using bonds for growth, tax credits and grants. We also have considerable depth in negotiating incentives with municipalities for property tax abatement or job-creation type credits.
Some of the programs we have supported our clients in assessing include:
- InvestOhio – an Ohio Development Services Agency which provides non-refundable personal income tax credits to investors who infuse new equity into Ohio small businesses to acquire ownership interest.
- Opportunity Zones – The Tax Reform Act of 2017 included a program where an investor may defer capital gains taxes on the sale of any asset by investing those gains through a Qualified Opportunity Fund. These gains can be potentially deferred until 2026, or upon the sale of the new investment (whichever is earlier). Alongside the deferral, this original capital gains tax is reduced by up to 15% over time.
- Enterprise Zones – Ohio’s Enterprise Zone (EZ) program designates areas of land where businesses can receive tax exemptions on eligible new investments
- Community Reinvestment Areas (CRAs) – This tax incentive program promotes the revitalization of underdeveloped areas by offering property-tax exemptions for increased property valuation as a result of new construction or renovation of existing structures.
- Job Creation Tax Credit – Businesses that create at least 25 new full-time positions at a facility in Ohio and pay a minimum of 150% of the federal minimum wage may be eligible for this credit.
- Jobs Retention Tax Credit – This credit provides Ohio CAT or state income tax credits for businesses that commit to retain a significant number of full-time jobs.
- Training Tax Credit – Ohio provides employers with incentives to train current employees at risk of being displaced because of skill deficiencies or the inability to use new technologies.
- Technology Investment Credit – Ohio offers a variety of benefits to taxpayers who invest in small research and development and technology-oriented firms.
- Research and Development Sales Tax Exemption – Under this program, significant tax savings are provided for companies undertaking research and development activities in Ohio.
- Manufacturing Machinery & Equipment Sales Tax Exemption – This credit provides an exemption from state and county sales tax for companies that purchase machinery and equipment for manufacturing and equipment.
- Warehouse Machinery & Equipment Sales Tax Exemption – This credit provides an exemption from state and county sales tax for companies that purchase eligible warehousing machinery and equipment.
REAL ESTATE LITIGATION
Our team of litigation attorneys represents lenders, owners, insurance companies, businesses, governments, developers, title agents, and other real estate professions in all areas of real estate ownership, finance, development and management. Our real estate litigators assist our clients to resolve soured deals, issues over ownership. contract breaches, and other real estate and business matters.
We practice in state and federal courts, including bankruptcy and probate courts, to assist our clients’ litigation needs in connection with their real estate disputes. Whether we engage in foreclosure or establish receiverships or work through bankruptcies, our experienced attorneys work efficiently and diligently for our clients.
Our experienced team also has extensive knowledge in representing receivers who have been charged by state or federal courts to oversee, manage or operate business and/or real property. We handle receivership matters from start to finish, including the filing of the bond, motions to sell the real property, and overseeing the management of properties, from single family to multi-family properties.
Our practice spans the entire State of Ohio. CPM’s attorneys have an excellent and well-established reputation in the field of real estate, and we take pride in helping our clients solve their real estate needs.
REAL PROPERTY TAX VALUATIONS
Seeking a reduction in real property valuation can result in significant property tax savings for property owners.
We start with an evaluation of the real property values that have been assessed by your local county auditor to determine if a filing complaint to reduce the current valuation would be cost effective. Depending upon the timing of the county auditor’s valuation cycle, successful property owners could receive up to 3 full years of real estate tax savings. Over the last few years we have saved our clients millions of dollars by challenging property valuation assessments.
We regularly service clients on:
- Filing complaints against the current assessed values as determined by your local county auditor (Board of Revision Complaint).
- Making Tender Payments on your real estate tax bill based on a reduction in value sought in a Board of Revision Complaint, rather than based upon the value assessed by the county auditor.
- Determining expected valuations and real estate taxes based upon new construction and timing of such valuations.
- Assisting farm land owners in obtaining Current Agricultural Use Valuations (CAUV) and ensuring they retain CAUV status.
Real Property Tax Exceptions & Abatements
Additionally, certain real property may qualify for real estate tax exemption or abatement, which can also result in significant tax savings. Our attorneys are skilled in recognizing these opportunities and can explain the benefits of tax abated property and the tax liabilities that will exist once the tax abatement expires. We also routinely file applications for obtaining real property tax exemptions for churches, educational facilities, and numerous types of charitable organizations.
Tax Increment Financing (TIF)/ Community Reinvestment Areas (CRA)
Our attorney’s work with developers and local municipalities on deals involving TIFs and CRAs and can explain the benefits of property owners who have property located within the TIFs and CRAs.
CONSTRUCTION LAW
Our experience stems from successfully representing owners, developers, bankers, general contractors, subcontractors, architects, engineers, and material suppliers on projects throughout Ohio. We understand every stage of the construction process, from bidding to closeout, and estimating to buyout of the project.
Representing Clients Engaged in All Phases of Construction
Our representation of those in the construction industry often ranges from private industrial, commercial and residential projects, to public projects with both multi-prime and design-build contracts. We work with a wide range of clients including owners, developers, residential builders, general contractors, subcontractors, material suppliers, design professionals (architects, engineers, surveyors), and trucking companies. Some of the important legal services we provide within the construction industry are:
- Mechanic’s Liens & Payment Claims
- Litigation of All Construction Claims
- Contract Selection, Negotiation and Preparation
- Construction Defects Litigation
- Insurance Coverage of Construction Disputes
- Prompt Payment Act Claims
- Business & Corporate Law for Construction-related companies
- Bonding and Bonding Disputes
- VSSR Defense
- Employment Matters
- Mergers & Acquisitions
Our attorneys truly understand that “time is money” on each and every construction project. Our goal is to be proactive and always address problems before they start. We understand the evolving challenges facing the construction industry, and work diligently to not only meet, but exceed our client’s unique needs.
- InvestOhio – an Ohio Development Services Agency which provides non-refundable personal income tax credits to investors who infuse new equity into Ohio small businesses to acquire ownership interest.
- Opportunity Zones – The Tax Reform Act of 2017 included a program where an investor may defer capital gains taxes on the sale of any asset by investing those gains through a Qualified Opportunity Fund. These gains can be potentially deferred until 2026, or upon the sale of the new investment (whichever is earlier). Alongside the deferral, this original capital gains tax is reduced by up to 15% over time.
- Enterprise Zones – Ohio’s Enterprise Zone (EZ) program designates areas of land where businesses can receive tax exemptions on eligible new investments
- Community Reinvestment Areas (CRAs) – This tax incentive program promotes the revitalization of underdeveloped areas by offering property-tax exemptions for increased property valuation as a result of new construction or renovation of existing structures.
- Job Creation Tax Credit – Businesses that create at least 25 new full-time positions at a facility in Ohio and pay a minimum of 150% of the federal minimum wage may be eligible for this credit.
- Jobs Retention Tax Credit – This credit provides Ohio CAT or state income tax credits for businesses that commit to retain a significant number of full-time jobs.
- Training Tax Credit – Ohio provides employers with incentives to train current employees at risk of being displaced because of skill deficiencies or the inability to use new technologies.
- Technology Investment Credit – Ohio offers a variety of benefits to taxpayers who invest in small research and development and technology-oriented firms.
- Research and Development Sales Tax Exemption – Under this program, significant tax savings are provided for companies undertaking research and development activities in Ohio.
- Manufacturing Machinery & Equipment Sales Tax Exemption – This credit provides an exemption from state and county sales tax for companies that purchase machinery and equipment for manufacturing and equipment.
- Warehouse Machinery & Equipment Sales Tax Exemption – This credit provides an exemption from state and county sales tax for companies that purchase eligible warehousing machinery and equipment.
- InvestOhio – an Ohio Development Services Agency which provides non-refundable personal income tax credits to investors who infuse new equity into Ohio small businesses to acquire ownership interest.
- Opportunity Zones – The Tax Reform Act of 2017 included a program where an investor may defer capital gains taxes on the sale of any asset by investing those gains through a Qualified Opportunity Fund. These gains can be potentially deferred until 2026, or upon the sale of the new investment (whichever is earlier). Alongside the deferral, this original capital gains tax is reduced by up to 15% over time.
- Enterprise Zones – Ohio’s Enterprise Zone (EZ) program designates areas of land where businesses can receive tax exemptions on eligible new investments
- Community Reinvestment Areas (CRAs) – This tax incentive program promotes the revitalization of underdeveloped areas by offering property-tax exemptions for increased property valuation as a result of new construction or renovation of existing structures.
- Job Creation Tax Credit – Businesses that create at least 25 new full-time positions at a facility in Ohio and pay a minimum of 150% of the federal minimum wage may be eligible for this credit.
- Jobs Retention Tax Credit – This credit provides Ohio CAT or state income tax credits for businesses that commit to retain a significant number of full-time jobs.
- Training Tax Credit – Ohio provides employers with incentives to train current employees at risk of being displaced because of skill deficiencies or the inability to use new technologies.
- Technology Investment Credit – Ohio offers a variety of benefits to taxpayers who invest in small research and development and technology-oriented firms.
- Research and Development Sales Tax Exemption – Under this program, significant tax savings are provided for companies undertaking research and development activities in Ohio.
- Manufacturing Machinery & Equipment Sales Tax Exemption – This credit provides an exemption from state and county sales tax for companies that purchase machinery and equipment for manufacturing and equipment.
- Warehouse Machinery & Equipment Sales Tax Exemption – This credit provides an exemption from state and county sales tax for companies that purchase eligible warehousing machinery and equipment.
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Phone: 614.228.6135|
Fax: 614.221.0216
