The Role of Planning in Stabilizing Distressed Properties
August 30, 2011
Many communities have a glut of entitled but unfinished development projects. Depending on the context and scale of the problem, traditional stabilization tools such as code enforcement may prove inadequate or ineffective. In some cases, the best solution for the community may involve relaxing certain regulatory requirements or renegotiating the terms of development agreements.
In this program, Daniel Shapiro from Robbins, Salomon & Patt and Jessica Schramm from Thompson Coburn discussed a wide range of strategies planners can use to stabilize and reposition distressed properties. Specific strategies covered included reviewing agreements recorded against property, negotiating development fees, and re-entitling property. They also addressed how planners can assist when development deals turn sour.
Daniel Shapiro is an attorney with Robbins, Salomon & Patt, Ltd., where he practices in the areas of land use, zoning, governmental relations, municipal law, and civil litigation. He represents a wide variety of private developers as well as governmental entities. Shapiro has handled complex multimillion dollar projects by working closely with his clients to seek necessary zoning entitlements or private-public partnership financing mechanisms.
Jessica Schramm focuses her practice at Thompson Coburn on land use and zoning entitlements, municipal representation, and litigation in the City of Chicago and throughout the State of Illinois. She represents property owners and developers appearing before municipal and county boards, commissions, and committees on matters of land use entitlement, which include zoning, subdivision/vacation/dedication, use of the right-of-way, redevelopment, TIF and other financial incentives, historic preservation, and lakefront and industrial corridor protections.