Norris McLaughlin, P.A.Closes First Multi-Family Grant Under NYC Build It Back
Norris McLaughlin, P.A.Closes First Multi-Family Grant Under NYC Build It Back
New York, NY (November 13, 2013) - New York, NY (November 13, 2013) – The Cooperative and Condominium Law Group of Norris McLaughlin, P.A. represented Knickerbocker Village (KVI) in securing $1.46 million in Hurricane Sandy relief funds from NYC Build it Back multi-family building repair program. This transaction was the first grant provided by the NYC Build it Back program. KVI was represented by Norris McLaughlin, P.A.attorney, Michael T. Reilly.
“Knickerbocker Village will use its $1.46 million to finance Phase I of repairs to help undo the damage caused by Hurricane Sandy. In addition to making much needed repairs, the funds will help improve the resiliency of the buildings to resist and mitigate damage from future severe weather events,” said Robinson.
"NYC Build it Back is an important part of our efforts help New Yorkers continue the road to recovery," said Mayor Michael R. Bloomberg.
"Today marks a new beginning for these first three multi-family buildings to receive federal recovery funding through NYC Build it Back. Hurricane Sandy was a turning point for how we must think about protecting our tenants and our housing stock in the face of severe weather events. It's fitting that we memorialize this storm by moving forward and rebuilding better, smarter and stronger than before,” said Department of Housing Preservation and Development Commissioner RuthAnne Visnauskas.
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 have also helped to develop and update 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 developments with their architects, engineers and contractors, and advises them concerning corporate governance and the relationships between the co-ops and their shareholders and commercial tenants.
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 and condominium practice expertise in real estate, financing, corporate, general commercial, trusts and estates, and employment law drawn from the other practices of the firm.