Ending the year on a high note, on December 28, 2018, MAROUS LAW helped its client close on a public finance transaction in the amount of $7,039,058.57. The Firm served as co-bond counsel to the Dormitory Authority of the State of New York (“DASNY”) in connection with The Arc New York’s (formerly NYSARC) participation in DASNY’s Tax-Exempt Equipment Leasing Program (TELP). That program helps participants finance state-of-the-art equipment for their operation while receiving the benefits of tax-exempt financing under a DASNY Master Lease and Sublease Agreement.
The Arc New York is a not-for-profit institution that assists individuals with intellectual and developmental disabilities throughout the State of New York through housing, education, vocational training and other support. The equipment provided to The Arc New York (and 16 of its chapters) included office equipment, computer hardware and software, heating and air conditioning equipment, appliances, lifts, security, fire safety, maintenance, motor vehicles, medical, educational and personal care-related equipment and much more.
We are proud to have a part, though small, in delivering needed support to the most vulnerable members of our society.