Economic Development & Incentives
The attorneys of Hurwitz & Fine, P.C. have many years of experience in handling economic development projects involving tax incentives and a variety of financing and funding structures.
Hurwitz & Fine, P.C. is general counsel to the Buffalo Urban Development Corporation (“BUDC”) and has participated in various BUDC development projects by negotiating and documenting property acquisitions, land dispositions, leases and development agreements, as well as developing construction bid and contract documents. In addition, as general counsel, we regularly advise BUDC on regulatory compliance and corporate matters and assist in the preparation of appropriate policies and procedures.
Hurwitz & Fine, P.C. served as general counsel and taxable bond counsel to the Erie County Industrial Development Agency (“ECIDA”), one of New York State’s most active IDAs, from 1990 to 2009. During that period, the firm, acting as IDA counsel, closed hundreds of taxable and tax exempt bond and lease transactions. As counsel to the ECIDA, we were involved in structuring innovative PILOT increment financing (PIF) transactions and provided advice on a range of statutory and regulatory compliance issues. We are also fully familiar with the various state pass through programs, having closed a number of infrastructure grants and loans through the New York State Department of Transportation, as well as REDPP grant and loan transactions through the Empire State Development Corporation and New York State Environmental Management Investment Grants.
In addition, our attorneys represented the affiliated not-for-profit local development corporations of ECIDA, the Buffalo and Erie County Regional Development Corporation (“RDC”) and the Buffalo and Erie County Industrial Land Development Corporation (“ILDC”), on over 100 loan transactions, which were advanced through various federally funded revolving loan funds. In this regard, we are fully familiar with the applicable regulations of the United States Department of Commerce, Economic Development and Administration, and the United States Department of Housing and Urban Development. We have also participated in other lending transactions utilizing other governmental incentives, including the Small Business Administration and the Export-Import Bank of the United States.
We are currently counsel to The Orleans County Local Development Corporation (“OCLDC”) and have represented the OCLDC in federally-funded loan transactions, government and corporate funded pass-through loans and grants, including grants through the New York Main Street Grant Program, funding for special development and business initiatives and general corporate matters. We are also counsel to the Lackawanna Community Development Corporation and the Lackawanna Housing Development Corporation and assist in the funding and development of affordable housing and other revitalization efforts in the City of Lackawanna.
Hurwitz & Fine, P.C. is listed in the prestigious The Bond Buyer’s Municipal Marketplace (commonly known as the “Red Book”) and is a member of the New York State Economic Development Council.