The lapse of a variance is a troubling issue for a real estate developer. Variances are subject to stringent legal standards that are difficult to meet, and obtaining a variance can involve protracted, expensive (in both monetary and political capital), and sometimes venomous proceedings before local zoning boards of appeal (or, worse, litigation). The risk of lapse of variances (and other development permits) is an increasingly urgent problem for real estate developers who have stalled projects due to lack of financing and/or adverse market conditions. (more)