Governor Hochul, Secretary Fudge, Senator Schumer, and Representative Bowman Announce Approval of Loan Refinancing to Maintain Housing Quality and Affordability for Co-op City
Governor Kathy Hochul, U.S. Department of Housing and Urban Development Secretary Marcia Fudge, Senator Charles Schumer, and Representative Jamaal Bowman today announced that Riverbay Corporation, the management company for Co-op City, the U.S. Department of Housing and Urban Development, Wells Fargo, the Mortgage Insurance Fund of the State of New York Mortgage Agency, and NYC Housing Development Corporation have processed and approved Co-op City’s Department of Housing and Urban Development loan refinance. The refinance will maintain long-term housing quality and affordability for the tens of thousands of residents who call Co-op City home. Refinancing provides the housing company with $124 million in proceeds that will be used for capital improvements, including upgrades to the heating, ventilation, and air conditioning system, façade maintenance, and electrical system upgrades.
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The other outgoing member alleged that Jacob’s client agreed to an itemization of income and expenses and make installment payments to the outgoing member in exchange for a transfer of interests. The company was formed as a joint venture to act as general contractor on certain large-scale projects. Jacob used the General Obligations Law to show that the document was not a statement of personal liability, avoiding a claim initially in excess of $800,000, later amended to $400,000 during discovery, and ultimately dismissed.
Attorney Jacob Amir obtained the cancellation of a mechanics lien filed against a condominium building and 48 condominium units. The lienor, a general contractor, needed to pay substantial insurance premiums in order to qualify its bid for a project. When the project was delayed, the contractor filed for recovery of its premium costs. Our firm first filed a demand for a Lien Law statement to identify the claimed expenditures, then filed a petition under Lien Law 19(b) to discharge the lien since it was based upon expenses that are not recoverable through the Lien Law. The Court adopted our arguments and canceled the mechanic’s lien in its entirety.
Register NOW for our November 16th, Cooperator Town Hall Event at 2:00pm EST. Led by Kenneth R. Jacobs and A.J. Morgenstern.
Shareholders and unit owners often seek to transfer ownership of their apartments to Revocable Living Trusts, Medicaid Trusts, Family Limited Liability Companies and other artificial entities in order to avoid probate and reduce their tax liability. These requests can create challenges for boards – including protecting the association’s ability to enforce its governing documents, avoiding under-the-radar transfers, and maintaining a sense of community in the building. This panel of experts will discuss the legal and procedural implications of these transfers, when co-ops and condos should permit owners to make them, and how to protect boards and residents from the unique issues created by non-individual ownership.
To register for the webinar, Visit Cooperator.Com
This program is presented by The Cooperator New York.
Registration is required.
Jacob Amir has been appointed Co-Chair of the Construction Law Committee of the Westchester Bar Association. The Committee members are engaged in some of the largest and most advanced public and private development projects in the County and around New York State.
Eric Blaha, Jeffrey Buss, Kenneth Jacobs, Mark Manewitz & Thomas Smith have each been selected to the 2020 New York Metro Super Lawyers list. Each year, no more than five percent of the lawyers in the state are selected by the research team at Super Lawyers to receive this honor.
Super Lawyers, a Thomson Reuters business, is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The annual selections are made using a patented multiphase process that includes a statewide survey of lawyers, an independent research evaluation of candidates and peer reviews by practice area. The result is a credible, comprehensive and diverse listing of exceptional attorneys.
The owner alleged that our client engaged in fraud and misrepresentation when he certified the accuracy of payment requisitions which the owner claimed were false due to non-performance and non-payments to subcontractors. The Court adopted Jacob’s arguments that the principal could not be held personally liable for the claims alleged, and granted dismissal of the entire complaint.
Register NOW for our June 29th, Cooperator Town Hall Event at 2:00pm EST. Led by Kenneth R. Jacobs, Emanuela Lupu-Ferrante, and Jennifer L. Stewart.
Overview: The New York State legislature amended several important laws affecting co-ops and condos in the last two days of its session. Several new federal and local laws will also have a major impact on co-op and condo communities. Boards across the city and state have some pressing questions: Does marijuana legalization affect smoking policies? What are the implications of the new co-op exemptions from the Tenant Protection Act? How should boards address updated COVID requirements for employees? How do NYC’s enhanced lead paint testing protocols affect owners? Our partners will explain the implications of these and other recent changes, and offer valuable insights into how they may impact community governance and management.
To register for the webinar, visit cooperator.com
This program is presented by The Cooperator New York.
Registration is required.
Charles Welcome joins a group of panelists on Thursday, December 10th at 3:00 pm to present an in-depth analysis of the recent trends and developments in trade secrets. Speakers will offer the best practices to effectively identify and mitigate potential loopholes and protect trade secrets from risks of theft. They will also provide the audience with practical knowledge on how to secure a company’s valuable information.
Register HERE, registration is FREE for the first 30 registrants courtesy of Smith Buss & Jacobs, LLP.
Discount Code: SMITH149107
View Invite HERE
