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The Problem With Expiring Covenants in Los Angeles
Some states have had or do have up to 99 year requirements. But I think some places have caught on to this and local governments are also looking at extending these as well. Los Angeles is dealing with this right now where they're actually pushing toward mixed income projects having to be 99 year covenants, but kind of moving more slowly with the subsidized projects. Mike: Going forward for you kinds of projects, I don't think we should have expirations.