Madison to seek replacement property for homeless men’s shelter ‘with all due haste’ | Local Government

Earlier Tuesday, the mayor and Dane County Executive Joe Parisi held a press conference announcing the project, which aims to provide an overnight shelter that could accommodate laundry services and a kitchen.

Josh Wescott, chief of staff to Parisi, said in a statement Wednesday that the city and county have demonstrated a “clear financial and moral commitment” to this project.  

“The partnership that’s come together to create a new night shelter is unprecedented,” Wescott said in a statement. “City and county staff are already mapping next steps to identify potential community partners.”

The city would provide $3 million with Dane County contributing another $3 million, which Executive Joe Parisi included in his 2021 Capital Budget proposal. The property at 4111 East Towne Boulevard would cost $1.3 million.

“Together we have laid out a $6 million dollar commitment to this project, and we are focused on moving it forward as expeditiously

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Six Top Tips For Identifying 1031 Exchange Replacement Property

There is no argument that the IRS is quite strict when it comes to applying the rules governing 1031 exchanges. Every year, hundreds of proposed exchanges fail because the investor fails to meet one of the requirements set forth in the code.

One of the biggest areas where mistakes are made? Identifying the replacement property.

To make sure you don’t make a misstep here and jeopardize your next exchange, we offer our top tips for identification. When you understand all the requirements of identifying replacement property, you are far less likely to jeopardize your planned exchange.

3 Property Rule – There are different rules that set forth how many possible replacement properties may be identified by an investor, but most follow this rule. It allows an investor to identify up to three replacement properties and eventually acquire, one, two or all three of them.

200% Rule – An investor can … Read More