Michele Arbeeny and Carrie Foote Represent Bond Purchaser in Landmark Bond Issue
Michele Arbeeny (Partner, New York) and Carrie Foote (Associate, New York) represented a nationally recognized bank in its role as bond purchaser in one of the first bond financings approved by Build NYC Resource Corporation, a new local development corporation and conduit bond issuer. The borrower, New York Foundling Charitable Corporation, which provides housing and services to child-welfare agencies, was approved for $15.2 million in tax-exempt financing to refinance a loan used to construct a 56,000 square-foot building in the Mott Haven section of the Bronx.
Build NYC announced the deal in a press release.
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