News: Long Island

Sahn Ward Coschignano & Baker assists Roslyn Highlands Hook and Ladder in obtaining land use and building approvals and tax-exempt bonds

According to Michael Sahn, managing partner, and Daniel Braff, partner, of Sahn Ward Coschignano & Baker, PLLC, their law firm represented Roslyn Highlands Hook and Ladder, Engine and Hose Company, Inc., in obtaining land use and building approvals for a new firehouse substation located at Harbor Hill Rd. in East Hills (next to the East Hills Park). The construction of the new firehouse substation was financed with tax-exempt bonds. The law firm also represented the fire company in the tax-exempt bond transaction. The new 7,842 s/f substation replaces an obsolete firehouse substation at the same property, and provides not only fire protection services for local residents, but also emergency medical services and an ambulance response team. The Village of East Hills provided the necessary land use permits for the new substation. The Town of North Hempstead authorized the issuance of $3.415 million in tax-exempt bonds to finance the construction of the new firehouse. The tax-exempt bonds allowed the fire company to borrow the funds at a lower interest rate as compared to a conventional loan, thereby saving the local taxpayers significant sums over the course of the loan. The support of the Village of East Hills in the land use approvals, and the support of the Town of North Hempstead in authorizing the issuance of the tax-exempt bonds, made this a successful collaborative and collective effort of government and the volunteers of the fire company. The firm's efforts were acknowledged by James McCann, president of the Roslyn Highlands Hook and Ladder, Engine and Hose Company. "Without the guidance and exceptional support of Michael Sahn and Daniel Braff of Sahn Ward Coschignano & Baker, our ten-year quest to construct a modern fire station would not have become a reality. Their expertise and personal commitment to our project was unparalleled. Their hard work and dedication culminated in a firehouse which is not only appropriate to our current and future needs, it complements the surrounding community," said McCann. "It was a privilege to have been chosen by the fire company and represent them in this project, which will assist in their efforts to serve the public and bring together firefighting, Emergency Medical Services and ambulance services under one roof," Sahn said.
MORE FROM Long Island

Suffolk County IDA supports expansion of A&Z Pharmaceuticals

Hauppauge, NY The Suffolk County Industrial Development Agency (IDA) has granted preliminary approval of a financial incentive package that will assist a manufacturer in expanding its business by manufacturing more prescription (Rx) pharmaceuticals in addition to its existing over-the-counter
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The evolving relationship of environmental  consultants and the lending community - by Chuck Merritt

The evolving relationship of environmental consultants and the lending community - by Chuck Merritt

When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.