Ichter Prevails in $265 Million Bond Validations
On March 28, 2014, Cary Ichter of represented the Development Authority of Fulton County in four bond validation hearings at which transactions involving $255 million of bond financing were approved. The transactions consisted of $75 million for PPF AMLI 15thStreet, LLC, $110 million for AMLI Roxboro Road, LLC and $80 million for CPT Morningside Heights, LLC. The bonds were issued to acquire, construct and equip two separate multifamily housing facilities and a mixed-use retail and residential facility. It is estimated that the projects, taken together, will generate approximately 145 new permanent jobs and 1,358 construction jobs.
Mr. Ichter has been involved in the validation of nearly $2.8 billion of development bond transactions since 2010. Most of those validation proceedings have been contested, and a number have gone to the Court of Appeals. “I am very pleased whenever we are able to get one of these transactions validated and confirmed,” said Mr. Ichter. “We should be doing everything we can to promote economic development and the creation of jobs in Fulton County. It is always nice to win a case, but it is even better to participate in facilitating projects that create jobs, opportunities and prosperity in our community.”
For more information about municipal finance litigation or the commercial litigation practice at Ichter Davis, call Cary Ichter at 404-869-7600.