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Economic Development
Lawyers Alliance helps to train and place people in jobs,
increase financial literacy and economic independence, attract
lending and investment, and promote community vitality and
stability in all five boroughs.
Clients include community loan funds, low-income federal
credit unions, community development corporations, workforce
development groups, business improvement districts and community
revitalization organizations, faith-based groups, nonprofits
involved in for-profit business ventures, and other economic
development organizations.
| With more than 3,000 community members using
its resources annually and its programs growing exponentially, YM & YWHA of Washington Heights & Inwood (the Y)
required a major overhaul and expansion of their current facility. Pro bono attorneys from
Orrick, Herrington & Sutcliffe LLP negotiated a Funding Agreement for a $775,000 loan from
the New York City Economic Development Corporation (EDC). The capital funded new program space
that will allow the Y to reach out to and serve more youth and adults through new and additional
recreational programming.
"Our pro bono counsel from Orrick was extremely thorough in negotiating the Funding Agreement
for a $775,000 loan from the New York City Economic Development Corporation (EDC). She generally
managed the entire process, clearly outlining everything for the Y. She also reviewed the
restrictive covenants that would be placed against the property, and reviewed the architect's
contract, as well as the construction contract." |
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Michael Fermaglich Chief Operating Officer
YM & YWHA of Washington Heights & Inwood |
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