News: Long Island

Terrana of FCSMC&C wins case for Goya

John Terrana, Esq., partner-in-charge of the tax certiorari department at the law firm of Forchelli, Curto, Schwartz, Mineo, Carlino & Cohn, LLP won a case at the New York State Court of Appeals on behalf of Goya Foods, Inc., a large importer who occupies a building at the former Northrup Grumman site in Bethpage. The Court of Appeals unanimously ruled on April 24, that Nassau County must credit Goya Foods $700,000 for overpayments made under an Industrial Development PILOT (Payment In Lieu Of Taxes) agreement. "The sole issue in the tax certiorari proceeding was the county's assessment of the property. Early on in the case, we were able to prove that the county had over assessed the property and required Goya to make overpayments totaling $700,000. Unfortunately, the county attempted to pass on responsibility for the credits to the Bethpage School District, and Goya and its credits were dragged into the litigation. Thankfully, the litigation is finally over with the Court of Appeals determining that Goya is entitled to the credits, and the county is responsible for them," said Terrana.
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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.