Private/Public Finance

PUBLIC FINANCING

Cuddy & Feder's Private/Public Finance Group represents all types of business organizations as borrowers (both for-profit and non-profit), as well as bond issuers and bond underwriters, in tax-exempt or taxable bond financing transactions. In virtually all cases, such transactions also include obtaining mortgage recording tax exemptions and sales tax exemptions, as well as real property tax abatements, reduced energy costs and similar governmental benefits.

For borrowers undertaking capital projects, Bond Financing can be an attractive option as it typically offers interest rates well below comparable bank loans, as well as an extended repayment term, generally 30 years or longer. Together, these can significantly reduce debt service on a project.

Likewise, "straight-lease" transactions are an attractive alternative to borrowers because they provide mortgage and sales tax exemptions, as well as real property tax abatements in cases where non-bond forms of financing are used, such as bank loan, equity, seller financing, etc. These transactions often involve Empire Zone benefits, an allocation of tax credits or other forms of governmental incentives.

Our Bond Financing attorneys represent borrowers, bond issuing entities, trustees, guarantors and underwriters in large and small transactions throughout the country, from New England to Florida to California and points in between. We have the experience and sophistication to meet the needs of any client seeking representation in a bond financing or "straight-lease" transaction.

Typically, bond proceeds finance capital costs for clients intending to acquire or lease real estate upon which they will construct, renovate, equip and furnish new or used facilities. Such clients include manufacturers, not for profit entities (private schools, social service agencies, theaters, learning centers, music conservatories, YMCAs, Boys & Girls Clubs, senior citizen centers, fire departments, cultural institutions, colleges, medical research institutes, airport facilities, film centers and the like), retail shopping center developers, developers of multi-family residential projects (both market rate and affordable housing, including projects using "low income housing tax credits") and commercial office developers.

FINANCE

Our team also has a wealth of experience representing some of the New York Metropolitan and Hudson Valley areas' largest lenders (including banks and insurance companies) and borrowers in all types of sophisticated commercial lending transactions. Typical transactions include acquisition loans, construction loans, mezzanine loans, asset based and revolving credit loans and refinancings of all kinds.

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