This information is as of June 2014. For the most up-to-date list of experience or to suggest additions to this list, contact the Marketing Department.
IMPORTANT - Client and lawyer attributions are for internal use only.
PUBLIC FINANCE
Represented a nationally-recognized bank in their multi-faceted financing role for Teachers Village (Newark, NJ), a complex, qualified school construction bonds and new markets tax credit transaction, including representing the bank as bond purchaser, bridge lender, escrow agent and administrative agent.
(Michele Arbeeny, Carrie Foote, Taila Martin for TDBank and The Bridgehampton National Bank) Represented a nationally-recognized bank and locally-recognized bank in their roles as bond purchasers of 4 separate series of tax exempt and taxable bonds totalling $17 million issued by both the Suffolk County Economic Development Corporation and the Town of Brookhaven Local Development Corporation, which were secured in part by mortgages on over twenty properties.
(Michele Arbeeny, Carrie Foote for TDBank) a nationally-recognized bank in connection with its issuance of a $50,000,000 standby letter of credit to another financial institution to support tax exempt housing bonds issued through the New York State Housing Finance Agency's 80/20 Program, which will be used to partially finance the construction of a large mixed use project in New York City.
Represented a nationally-recognized bank in its role as bond purchaser in one of the first bond financings approved by Build NYC Resource Corporation, involving $15.2 million in tax-exempt financing for the borrower to refinance a loan used to construct a 56,000 square-foot building in the Mott Haven section of the Bronx.
Represented an agent bank and lead syndicator, in connection with a transaction to provide credit enhancement for $145 million in first mortgage bonds and $65 million in second mortgage bonds issued to finance the encapsulation and general remediation of environmentally sensitive areas in the New Jersey Meadowlands for subsequent development into golf courses, a hotel and conference center, luxury "for-sale" housing, luxury apartment units and related environmental infrastructure.
Represented a national bank, in connection with the issuance of a standby-letter of credit supporting an $80 million New Jersey Home and Mortgage Finance Agency variable rate bond issue.
Represented a national bank, in the purchase of $46.5 million New York City Industrial Development Agency's tax exempt adjustable fixed rate civic facility revenue bonds in connection with a charitable organization's acquisition of a 77,000 square foot condominium located in Manhattan, New York.
Represented a major financial institution, in a $28 million tax-exempt bond financing through the New Jersey Economic Development Authority with respect to a yeshiva in Lakewood, New Jersey.
Represented a commercial recycling facility in Bergen County, New Jersey, in connection with a $56 million project finance bond issue.
Represented a not-for-profit skilled nursing facility, in connection with a $45 million development project financed by tax exempt debt issued by the Dormitory Authority of the State of New York, the first nursing home bond issue secured by a bond insurance policy in New York State.
Represented various colleges and universities, serving as bond counsel in connection with revenue and revenue refunding bonds through the New Jersey Educational Facilities Authority;
Represented various issuers, serving as bond counsel in connection with transportation system bonds, such as Capital Appreciation Bonds and federally taxable-issuer subsidy-Build America Bonds (BABs).
Represented various health care systems and hospitals, serving as bond counsel in connection with revenue and refunding bonds through New Jersey Health Care Facilities Financing Authority.
AFFORDABLE HOUSING
Currently representing a not-for-profit developer that owns a 220-unit affordable housing complex in New York City (via a nominee-structure utilizing a New York State Article XI housing development fund company and a New York limited liability company), in connection with the development, construction and rehabilitation of the project. The approximately $60M financing involves tax-exempt bonds to be issued by the New York State Homes and Community Renewal, as well as LIHTCs. The financing also involves negotiations with the NYC Department of Housing Preservation and Development in connection with obtaining a real estate tax abatement.
Representation of a not-for-profit developer in connection with a HUD 202 refinancing and rehabilitation of a senior housing apartment complex in New York City, including negotiating with the investor who acquired the LIHTC available to the project and negotiating with the bond issuer and letter of credit enhancer for the project debt financing.
Representation of an urban renewal entity in connection with the acquisition of a Section 8 supported senior citizen housing project in Newark, New Jersey containing 100 residences, including representing the acquiring entity in connection with the issuance of housing bonds to finance the acquisition as well as obtaining an assignment of the existing long term tax exemption on the property from the City of Newark.
Representation of a major U.S. national bank as bond purchaser during construction of an affordable housing project, including review of the bond repurchase agreement as well as review of the Agreement for Interest Reduction Payments with HUD.
Represented a national bank, in connection with the issuance of a standby-letter of credit supporting an $80 million New Jersey Home and Mortgage Finance Agency variable rate bond issue.
Represented a national bank, in the purchase of $46.5 million New York City Industrial Development Agency's tax exempt adjustable fixed rate civic facility revenue bonds in connection with a charitable organization's acquisition of a 77,000 square foot condominium located in Manhattan, New York.
Represented a non-profit development agency in connection with land acquisition, relocation, financing and construction for several redevelopment projects in New Jersey, including a renovated courthouse/apartment tower complex, a city and county office facility, a hotel/conference center/condominium project, a mixed-use complex with rental apartments, residential condominiums, university bookstore, offices for public and private entities, restaurants, retail space, supermarket, wellness center and parking garages, and a downtown university student dormitory. Projects included the use of certificates of participation (COPS), tax increment financing, tax abatements, New Markets Tax Credits, Low-Income Housing Tax Credits, Urban Transit Hub Tax Credits, and tax-exempt bond financing.
Represented a venture in connection with construction of a 58-story mixed-use project (commercial condominium units for "80-20" market plus affordable housing, special use, retail, and garage) in Manhattan's Madison Square Garden district. Included assemblage of the site and transferable development rights (zoning floor area), $176 million in tax-exempt bond financing, and $42.5 million in conventional loan financing, culminating a four-year process from RFP through closing.
Representation of a New York State Article XI housing development fund company which owns 47 units of affordable housing in New York City in connection with a $5 million dollar construction loan made by the New York City Housing Development Corporation through the issuance of its construction bonds. In connection therewith, we negotiated with the NYC Department of Housing Preservation and Development in connection with obtaining a real estate tax abatement.
EDUCATION
(Michele Arbeeny, Taila Martin) Representation of a prestigious New York City private school in connection with its tax exempt loan through a refunding note made available by Build NYC Resource Corporation, the proceeds of which were provided to it by a leading bank and used by the school to defease previously existing tax exempt debt. The representation also included a non-revolving line of credit provided by bank.
(Michele Arbeeny, Taila Martin) Representation of a nationally-recognized bank in connection with its private placement of $7.5 million of Build NYC Resource Corporation tax-exempt bonds used to refinance a private school's existing tax-exempt debt and provide a working capital line of credit. Our representation included the negotiation of several intercreditor agreements among the various parties including the bank as swap provider and line of credit provider.
(Michele Arbeeny, Gary Walsh, Jeanine Margiano for Lycee Francais, for TD Bank and Israel Discount Bank, value $81,650,000) An international school in connection with the direct purchase by two lenders of Build NYC Resource Corporation Refunding Revenue Bonds, which were issued to fund the refinancing of existing tax-exempt bonds.
(Michele Arbeeny, Taila Martin for TD Bank and Hagedorn Little Village School, value $3,800,000) The financial institution in their direct purchase of Nassau County Local Economic Assistance Corporation Revenue Bonds issued to fund the construction of an addition to an existing school and the renovation of classroom space.
Counsel re: $52,020,000 New Jersey Educational Facilities Authority, Revenue Bonds, Rider University Issue, 2012 Series A.
Counsel re: $355,000,000 New Jersey Health Care Facilities Financing Authority, Princeton Healthcare System, Revenue Bonds, Series 2010, (May 2010), retained as bond counsel on a complex, multi-level financing, including variable rate and fixed rate debt, and a combination of new money and current and advance refunding-such transaction included the acquisition of various tracts of land to be used by the Medical Center and others and entailed a review of all such uses for private use purposes of the financing.
Counsel re: $88,670,000 New Jersey Educational Facilities Authority, Revenue Bonds, William Paterson University of New Jersey, (June 2008).
Counsel re: $126,415,000 New Jersey Health Care Facilities Financing Authority, Robert Wood Johnson University Medical Center, Revenue and Refunding Bonds, Series 2010, (September 2010), retained as bond counsel on a partial refunding of existing Authority debt.
Counsel re: $11,445,000,000 New Jersey Educational Facilities Authority, Revenue Refunding Bonds, Felician College Issue, 2006 Series I retained as bond counsel on a partial refunding of existing Authority debt.
Bond counsel to the New Jersey Educational Facilities Authority for a William Paterson University project in addition to providing other legal services to the University.
ENERGY
Representation of project owner and developer in a $31,000,000 tax-exempt revenue bond financing for the Atlantic City Midtown Thermal Energy Project.
Counseled the underwriter of $250 million first mortgage bonds issued by a public utility.
Counseled on a New Jersey utility company’s bond issues under its 1924 Mortgage Indenture for U.S. banks for over 25 years.
Represented a bank in connection with financings of a utility company’s medium-term notes.