New York, NY (June 3, 2013) – Burt Allen Solomon, a Member of Norris McLaughlin, P.A., and its Cooperative and Condominium Law Group, testified in opposition to proposed New York City legislation Intro 188, which would be called the Fair Cooperative Procedure Law (“FCP Law”), at a New York City Council Committee Hearing. The FCP Law is being touted as adding to existing protections against discrimination in the cooperative housing purchase-and-sale market in New York City. In addition to Solomon, several other attorneys in the firm’s Co-op and Condo Law Group worked on preparation for the hearing, including Karol S. Robinson, a Member of the firm who researched and drafted the testimony; Michael T. Reilly, who also completed research and attended the hearing; and Ezra N. Goodman, Member of the firm and Chair of the Group.
“As currently drafted, the FCP Law creates an undue burden on cooperatives, their boards of directors, and their managing agents; and puts directors who are involved in the application approval process at an unconscionable risk of personal liability. Further, the proposed legislation does not truly address the alleged discrimination in the cooperative application approval process that is supposedly motivating the law,” testified Solomon.
“Real estate brokers and their lobbying groups that support the FCP Law testified about the economics of the cooperative buying process and the brokers’ perceived need to set firm deadlines, but housing discrimination, which the law was intended to address,” Reilly explains.
By way of merger with Szold & Brandwen, P.C., Norris McLaughlin, P.A. has a long and illustrious history working with housing corporations. Members of the Cooperative and Condominium Law Group worked with the establishment of middle income and Mitchell-Lama government-assisted cooperative housing. They also helped to develop New York’s legislation for cooperatives constructed with government assistance for persons of moderate income. The Group deals with all relevant government agencies involved with this type of housing, represents housing development with their contractors, and advises them concerning corporate governance and the relationships between the co-ops and their shareholders.
Today, Norris McLaughlin, P.A. represents cooperative and affordable housing corporations as both general and special counsel, as well as luxury cooperatives and condominiums, dealing with the Boards of Directors, officers, and managers. The firm brings to its co-op & condominium practice expertise in real estate, financing, corporate, general commercial, trusts & estates, and employment law drawn from the other practices of the firm.