In New York State, depending on the nature of the acquisition and development of certain commercial properties, local Industrial Development Agencies (IDA), may provide financial assistance to a purchaser and/or developer. The purpose of an IDA is to promote, develop, encourage and assist in the acquisition, construction and improvement of industrial, manufacturing and commercial facilities in order to improve job opportunities and the economic welfare of people in the State of New York.

IDAs provide financial assistance to purchasers and developers of commercial property by way of mortgage recording tax exemption, real property tax abatement, sales tax exemption and tax exempt bond issuance.

Cohen & Perfetto LLP has extensive experience with IDA transactions that help companies expand, develop, renovate and/or purchase facilities. This enables businesses to remain in their current location or relocate to a new location by obtaining the benefits they need to keep their businesses viable.

Cohen & Perfetto LLP works with individuals and developers on projects from applications for variances to applications for permits, subdivisions and sit plans in order to obtain land use approvals by navigating the complex world of state and local zoning and land use approvals.

We have been involved on both sides of commercial and residential developments requiring subdivisions and/or site plan approvals. We are involved at the earliest stages of a project and consult with our clients through each procedural step in order to ensure that there is compliance with the regulatory process.

Cohen & Perfetto LLP’s clients’ best interests are our primary focus and this motivates us when we negotiate resolutions necessary to help mitigate disputes before the need for litigation arises. We work closely consulting our clients on the best way to structure transactions to substantially decrease the odds for litigation. If litigation does become necessary, we work with our clients to put them in the best position to achieve the best result.