Community Economic Development

The Community Economic Development Unit (CED) of Brooklyn Legal Services Corporation A provides a full range of “in-house counsel” services that community-based organizations do not have the financial resources to obtain, such as: contract review, drafting and negotiation; representation in corporate, tax, real estate, and financing matters; representation in administrative, licensing and regulatory proceedings and litigation; strategic consultation for long range community planning; and analysis of the legal and financial impact of program and policy options available to clients. The continuity and breadth of this representation has given our attorneys a deep understanding of the needs of the clients and their communities and has enabled us to build relationships of mutual trust and respect.

Beyond the Numbers: A CED Case Summary

ABC Local Development Corporation (ABC Corp.) has been a client and partner of the Community and Economic Development Unit (CED Unit) of Brooklyn Legal Services Corporation A (Brooklyn A) for over 25 years. The CED Unit has served as house counsel and special project counsel for ABC Corp. as it has created, sustained and expanded affordable and high-quality housing, day care centers, K-12 schools and after-school programs, a senior center, and small business support and housing counseling programs in its community.

XYZ Plaza, a major community and economic development project led by ABC Corp., will be located in the western end of the commercial corridor of ABC Corp.'s community, amidst over 200 units of new housing, adjacent to a busy, newly refurbished subway station, in a neighborhood with a marked increase in population over the last 20 years. There is a continuing area-wide shortage of affordable rental housing in the community and ample consumer demand to support the new retail development.

This project involved acquisition of vacant land in Brooklyn from the City of New York and the construction of a mixed use commercial/residential 25,000 sq. ft. structure with 6 commercial and 18 affordable and market-rate residential units. The commercial units will be available to local neighborhood entrepreneurs and will boost the local economy. The acquisition phase was completed in 2007 and the ground-breaking occurred later that year. Construction is underway with a completion date anticipated for spring of 2009 and occupancy to follow in the summer of 2009. This project is financed through a combination of low income housing tax credits and loans from private and non-profit lenders.

Brooklyn A’s legal work for the XYZ Plaza project has involved: establishment of the Limited Partnership ownership entity and its General Partner, a subsidiary of ABC Corp., through which development has taken place; negotiation and preparation of all documentation relating to hiring of the architect and general contractor; preparation of commercial and residential leases; and handling the title and construction loan closing which included the tax credit syndication.

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