Ohio Senate Bill 33 (S.B. 33), which makes significant changes to Ohio’s laws regulating Community Reinvestment Area (CRA) incentives, goes into effect April 3, 2023. Introduced in early 2021, S.B. 33 aggressively expands the availability of CRAs, the benefits they...
OVERVIEW & EXPERIENCE
Richard Morehouse is an attorney in KJK’s Real Estate practice group with a background that includes two decades of experience working in commercial real estate. Rich brings a unique perspective that combines years of real estate experience, multi-state property tax experience, valuation expertise and skilled legal knowledge, enabling him to achieve favorable results for clients.
Rich is valued for his distinctive blend of legal and quantitative skills that give him an understanding not only of what is legally permissible, but also physically and financially feasible while maximizing productivity for real estate development opportunities.
Rich is experienced with a wide array of asset types and has worked with a variety of professionals including contractors, architects, engineers, appraisers and economists on design, valuation, compliance and zoning for historic façade preservation and conservation easements, as well as other incentive programs. Rich has had experience with many state and local development and brownfield remediation incentive programs in Ohio. He is also experienced as counsel on small business, vendor contracts, copyright and trademark, non-profit and other matters.
Fueled by a desire to help resolve issues he felt had been holding Ohio back, Rich gave testimony to the Ohio House of Representatives Ways and Means Committee in 2012 as part of the Ohio State Bar Association’s property tax reform efforts. This marked the capstone of a multi-year effort Rich had undertaken to increase awareness of the need for Ohio property tax reform by working with and through the leadership of Forest City Enterprises, Inc., Cleveland BOMA, Ohio BOMA, Ohio State Bar Association and other Columbus and Cleveland area attorneys.
Rich holds a Bachelor of Science in Business Administration/Finance from the University of Akron, where he graduated magna cum laude, and earned his Juris Doctorate from University of Akron School of Law.
A real estate developer himself, Rich is passionate about helping developers understand and unlock the opportunities that so many historic buildings hold for communities throughout Ohio.
- Partnered in the pursuit of a historic tax credit fueled 80-unit market rate apartment project
- Developed and led team in creating real estate vision for multiblock area in the Cleveland CBD
- Participated in the completion of over 60 multi-million-dollar historic tax credit fueled property transactions
- Managed property tax compliance, incentives, forecasting and research for NYSE traded company
- Led the property taxation functions for $10 billion commercial real estate portfolio consisting of 30,000,000 square feet of retail or office space and 30,000 apartments units
- As lead attorney, reduced annual tax liability of a $65M office and hotel complex by $500K
- Investigated and resolved tenant leasing disputes to recover $150K in tax recoveries
- Lead expert in support of a refinance of California special assessment district and disputes involving Colorado tax increment finance districts
AWARDS & PROFESSIONAL AFFILIATIONS
- JD Supra Readers’ Choice Awards, Top Author, Real Estate, 2023
- CALI Award for Mergers & Acquisitions
- Ohio State Bar Association
- Akron Bar Association
- Cleveland Metropolitan Bar Association
BAR / COURT ADMISSIONS
- Progress Through Preservation of Greater Akron, 2017 – Present
- Finance Committee Chair
- Board Member
- Akron Municipal Court
- Online Dispute Resolution Mediator, 2021
- West Akron Baseball League, 2015 – 2020
- Board Member
- Business Volunteers United, 2013 – 2015
- Pro Bono Consultant
PRESENTATIONS & PUBLICATIONS
- “Investment Value v. Market Value,” Institute for Professionals in Taxation (IPT) Property Tax Symposium, 2010
- “Real Property Tax Appeals & Valuation,” Manufacturer’s Education Council – Ohio Tax Conference, Jan. 2014
- “The REIT Effect – Inflating Market Values,” Institute for Professionals in Taxation, Oct. 2013
- “Investment Value v. Market Value,” Institute for Professionals in Taxation, Oct. 2010
- University of Akron School of Law, J.D., 2010
- University of Akron, B.S., Business Administration/Finance, 2000, magna cum laude