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Will the new Water Resources and Reform Development Act Encourage Private Investment?

On June 10, 2014, President Obama signed into law the new Water Resources and Reform Development Act of 2014 (“WRRDA”). The Act’s primary purpose is to improve America’s water infrastructure through the funding of construction programs and projects. Introduced in 2012 by Senators Barbara Boxer (D) and David Vitter (R), the bill garnered unusual bi-partisan support. The WRRDA is also noteworthy because of something the Act is missing. No earmarks. As noted by Speaker John Boehner (R), “this is quite a departure for a bill whose claim to fame -or infamy, as it were – was being saturated with earmarks.  Hundreds of them.” Of significant importance, the WRRDA provides an avenue for the use and acceleration of private investment. [Read more…]

Kentucky’s New Uniform Trust Code

On July 15, 2014, Kentucky officially adopted the Uniform Trust Code (“UTC”), joining twenty-eight states that have officially adopted the UTC including Virginia, West Virginia, Tennessee and Ohio. Kentucky’s adaptation of the UTC will be codified under KRS Chapter 386B and as with any uniform law; the intent of the UTC is to provide clarity and stability to areas of the law typically governed by common law doctrine.  The Kentucky UTC brings with it some substantive changes to the law of trusts and estates, most notably: [Read more…]

“Environmental Issues in the Foreclosure Process”

I will be speaking on “Environmental Issues in the Foreclosure Process” at the seminar presented by National Business Institute. I will be specifically addressing: (1) Environmental Conditions at Foreclosed Properties; (2) Assessment/Reassessment of Environmental Risk; and (3) Liability Protection for Lenders. The seminar will be held on April 8, 2014 at the Hilton Garden Inn Airport, 2735 Crittenden Dr., Louisville, KY. For more information and/or registration please go to http://www.nbi-sems.com/Details.aspx/R-65441ER . I hope that you can join me along with other presenters who will address foreclosure matters outside of the environmental arena.

LEGAL TIPS FOR START-UP BUSINESS OWNERS AND OPERATORS

BUSINESS STRUCTURE

A typical mistake of a small start-up business is not availing itself of a business structure that may shelter the business owner from personal liability.  Corporations and Limited Liability Companies may afford such protection.

BUSINESS PLAN

A well thought-out and well vetted business plan is an essential element to business success. Business plans should include, without limitation, market analysis and planning, financial projections and cash flow analysis, organization of management team, sales strategies, just to name a few items. A business may be subject to liability and incur significant legal costs due the lack of sufficient forethought. [Read more…]

Dancing with the Prospect Stars

I will be putting one foot after another Dancing With the Prospect Stars in support of the Special Olympics. Come join me on 2/9/14 at the Mellwood Arts Center in Louisville, KY. To learn more please go to www.dancingwithprospectstars.org.

NEW LAW PROVIDING LIABILITY PROTECTION FROM CONTAMINATED PROPERTY

As part of the Commonwealth of Kentucky Brownfield’s Initiative, the Commonwealth of Kentucky Legislature has recently passed new law that affords certain environmental protections to present owners or prospective purchasers of real property. KRS 224.1-415 addresses conditions which a property owner is not liable for remediating contamination at the real property.

The threat and scope of environmental liability is so great that one can actually be required to take timely and costly corrective action to remediate contamination that may not even have been caused by that individual or entity.  The presence of contamination, or the perception that contamination exists, may significantly diminish the property’s value.  This threat has thwarted many transactions. [Read more…]

Product to Market – Temporal Viability

I recently returned from Israel where I had the privilege of watching my daughter, Peyton, compete in the 19th Maccabiah Games representing the United States of America in swimming. The Maccabiah Games is the third largest international sporting event in the world. Thousands of athletes from around the world converge every four years in Israel to excel in their respective events. (By the way, Peyton won a gold and two silver medals).

The sporting venues are filled with fans cheering on their countries and athletes. At the swimming venue, there was downtime from the competition that allowed me to intermingle with the other spectators. [Read more…]

Procurement of Growth Capital & Entrepreneur Support in Metropolitan Louisville

The Louisville, Kentucky business community holds a gem that is harbored by Greater Louisville, Inc. (Louisville, KY’s chamber of commerce). It is known as “EnterpriseCorp”. EnterpriseCorp provides advice and growth capital services for local businesses.

EnterpriseCorp assesses and assists your business through the use of benchmarking, operational analysis, strategic development, and implementation of the strategies. EnterpriseCorp’s advisory counsels are comprised of successful individuals who provide beneficial advice.

Growth Capital is imperative in the development and the continuation of your business. EnterpriseCorp can be used as a mechanism to help identify capital streams in various forms (e.g. grants, angel investors, accelerators, venture capital, and equity funds). EnterpriseCorp can introduce you to the players in the growth capital arena. [Read more…]

Louisville, Kentucky: Where Are You Now & Where Will You Be?

Just recently, the Louisville Economic Chamber of Commerce (“Lou-E”) www.lou-e.org held its kick-off function at the University of Louisville, Shelby Campus. LouE is the result of the merger of the Northeast Lousiville Business Association and the Lyndon Area Business Association. As part of the celebration, the Mayor of Louisville, KY, Greg Fischer, was the keynote speaker. This presented the Mayor an opportunity to address some of his economic and cultural plans.

  • Growing Economy — Jobs in the Louisville Metropolitan region have expanded by approximately 4% over the last two years. The Brookings Institution has stated that Louisville is the 4th fastest growing metropolitan economy in the nation.
  • Vision Louisville — The Mayor has established a program which he calls “Vision Louisville”. This is a long term approach to how the City will look over the next 50 years. Vision Louisville is divided into short, intermediate and long term visions. The Mayor is developing programs that would make Louisville the “Digital” city of the future. [Read more…]
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