Jeffrey DeCarlo – Weiss Serota Helfman Cole + Bierman https://www.wsh-law.com At the Crossroads of Business, Government & the Law Tue, 29 Aug 2023 14:10:21 +0000 en-US hourly 1 WSHC+B Attorneys Selected For Inclusion In The Best Lawyers In America 2024 https://www.wsh-law.com/news-updates/wshcb-attorneys-selected-for-inclusion-in-the-best-lawyers-in-america-2024/#utm_source=rss&utm_medium=rss Thu, 17 Aug 2023 19:02:12 +0000 https://www.wsh-law.com/?p=10645 Congratulations to all our attorneys who have been recognized by their peers for inclusion in the 2024 edition of The Best Lawyers in America©.  Of the 41 lawyers recognized, 12 of the firm’s attorneys were recognized for the very first time and 12 attorneys were recognized as Ones to Watch.  Best Lawyers has employed the […]

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Congratulations to all our attorneys who have been recognized by their peers for inclusion in the 2024 edition of The Best Lawyers in America©. 

Of the 41 lawyers recognized, 12 of the firm’s attorneys were recognized for the very first time and 12 attorneys were recognized as Ones to Watch. 

Best Lawyers has employed the same transparent methodology for more than 35 years, based entirely on peer review. 

The following includes all Firm attorneys named and areas in which they are recognized:

Miami

Fort Lauderdale

Boca Raton

Tampa, FL

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For the Frost Science Museum, an ‘Aggressive’ Plan That Failed https://www.wsh-law.com/news-updates/for-the-frost-science-museum-an-aggressive-plan-that-failed/#utm_source=rss&utm_medium=rss Wed, 17 Feb 2016 19:24:46 +0000 http://wsh.aplussclients.com/?p=5294 The post For the Frost Science Museum, an ‘Aggressive’ Plan That Failed appeared first on Weiss Serota Helfman Cole + Bierman.

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Florida Supreme Court affirms the circuit court’s decision to validate the Clean Energy Coastal Corridor https://www.wsh-law.com/news-updates/florida-supreme-court-affirms-the-circuit-courts-decision-to-validate-the-clean-energy-coastal-corridor/#utm_source=rss&utm_medium=rss Sun, 31 Jan 2016 06:46:32 +0000 http://wsh.aplussclients.com/?p=3043 On October 1, 2015, the Florida Supreme Court affirmed the circuit court’s decision to validate the Clean Energy Coastal Corridor (the “Coastal Corridor”) bonds, which are to be issued in order to fund energy efficient, renewable energy and wind resistant improvements (the “Qualifying Improvements”) pursuant to Section 163.08, F.S. (the “PACE Statute”).  The only issue […]

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On October 1, 2015, the Florida Supreme Court affirmed the circuit court’s decision to validate the Clean Energy Coastal Corridor (the “Coastal Corridor”) bonds, which are to be issued in order to fund energy efficient, renewable energy and wind resistant improvements (the “Qualifying Improvements”) pursuant to Section 163.08, F.S. (the “PACE Statute”).  The only issue before the Court was whether the bonds should not be validated because the financing agreement to be signed by Coastal Corridor and property owners participating in the PACE program purported to authorize a remedy for the collection of unpaid assessments that is not authorized by Florida law, namely judicial foreclosure.  Coastal Corridor argued that the language in the financing agreement reserving the right to seek all appropriate legal remedies, including foreclosure, should be read to mean that the remedy of foreclosure can only be sought if it ever becomes an appropriate legal remedy, and does not authorize a remedy not currently permitted by the PACE Statute. The circuit court agreed with Coastal Corridor and validated the bonds.  Appellants argued that the inclusion of remedies in the financing agreement not currently authorized under the PACE Statute was fatal to the validation of the bonds, and that the circuit court had no authority to interpret the meaning of provisions in the documents.  The Florida Supreme Court agreed with the circuit court’s decision, and found that precedent supported reading bond documents in a manner that complies with Florida law.  Accordingly, the Court ruled that the foreclosure remedy could be severed from the financing agreement as a result of the severability clause within the agreement, and that the validation should be affirmed.  By affirming the circuit court’s decision, property owners will now be afforded the opportunity to finance needed Qualifying Improvements on their properties through the issuance of the Coastal Corridor’s bonds.  The Court’s opinion in this case can be found at http://www.floridasupremecourt.org/decisions/2015/sc14-1282.pdf?utm_source=rss&utm_medium=rss .  The Coastal Corridor was represented by the WSHCB Team of Ed Guedes, Jeff DeCarlo and Chad Friedman.

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Fla. High Court Affirms $700 M In Clean Energy Bonds https://www.wsh-law.com/news-updates/fla-high-court-affirms-700-m-in-clean-energy-bonds/#utm_source=rss&utm_medium=rss Thu, 08 Oct 2015 18:27:25 +0000 http://wsh.aplussclients.com/?p=5297 The post Fla. High Court Affirms $700 M In Clean Energy Bonds appeared first on Weiss Serota Helfman Cole + Bierman.

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21 Attorneys From Weiss Serota Helfman Cole & Bierman Have Been Named to the 2015 Super Lawyers/Rising Stars List https://www.wsh-law.com/news-updates/21-attorneys-from-weiss-serota-helfman-cole-bierman-have-been-named-to-the-2015-super-lawyers-rising-stars-list/#utm_source=rss&utm_medium=rss Sat, 31 Jan 2015 07:07:40 +0000 http://wsh.aplussclients.com/?p=3310 We are very proud to announce that 21 attorneys from Weiss Serota Helfman Cole & Bierman have been named to the 2015 Super Lawyers/Rising Stars List.  Congratulations to them all! Richard J. Weiss Joseph H. Serota Stephen J. Helfman Jamie A. Cole Susan L. Trevarthen Clifford A. Schulman Gilberto Pastoriza Anthony L. Recio Edward G. […]

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We are very proud to announce that 21 attorneys from Weiss Serota Helfman Cole & Bierman have been named to the 2015 Super Lawyers/Rising Stars List.  Congratulations to them all!

Richard J. Weiss

Joseph H. Serota

Stephen J. Helfman

Jamie A. Cole

Susan L. Trevarthen

Clifford A. Schulman

Gilberto Pastoriza

Anthony L. Recio

Edward G. Guedes

Chad S. Friedman

Matthew H. Mandel

Jeff D. DeCarlo

Alison F. Smith

John J. Quick

Alan K. Fertel

Eric P. Hockman

Matthew J. Pearl

Alicia H. Welch

Justin Luger

Samuel I. Zeskind

Alan Schwartzseid

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SEC Asks Congress for Greater Control Over Municipal Bond Market https://www.wsh-law.com/news-updates/sec-asks-congress-for-greater-control-over-municipal-bond-market/#utm_source=rss&utm_medium=rss Thu, 31 Jan 2013 07:29:49 +0000 http://wsh.aplussclients.com/?p=3713 The Securities and Exchange Commission (“SEC“) recently released a report on the municipal bond market which requests Congressional approval for authority to regulate municipal bond issuers and the required content of disclosure documents provided to investors. Under current law, municipal issuers are required to comply with the broad antifraud provisions of federal and state securities […]

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The Securities and Exchange Commission (“SEC“) recently released a report on the municipal bond market which requests Congressional approval for authority to regulate municipal bond issuers and the required content of disclosure documents provided to investors. Under current law, municipal issuers are required to comply with the broad antifraud provisions of federal and state securities laws, but are not directly regulated by the SEC. The SEC currently has authority to regulate broker-dealers and municipal securities dealers, which has an indirect impact on the municipal marketplace. The requested authority would provide the SEC, for the first time, with direct authority over municipal bond issuers.

Significantly, the SEC has not asked to repeal the Tower Amendment prohibiting the SEC from requiring municipal bond issuers to register bond offerings and file disclosure documents with the SEC, a practice which is required of securities offerings of public companies.

The requested oversight authority is a result of what the SEC perceives to be an inadequate availability of information to investors of municipal securities, both in the initial offering of municipal securities and on an ongoing basis. In order to improve the content and timeliness of such information, the SEC has asked for authority to:

  • Require that municipal issuers prepare and disseminate official statements and disclosure during the outstanding term of the securities, including timeframes, frequency for such dissemination and minimum disclosure requirements, including financial statements and other financial and operating information, and provide tools to enforce such requirements.
  • Eliminate registration and filing exemptions to conduit borrowers of municipal securities that are not public entities, except for certain current exemptions, such as those available for small businesses, private offerings, and non-profit entities.
  • Establish the form and content of financial statements for issuers of municipal securities, including the authority to recognize the standards of a designated private-sector body as generally accepted for purposes of the federal securities laws, and provide the SEC with authority over such private-sector body.
  • Require municipal securities issuers to have their financial statements audited, whether by an independent auditor or a state auditor.
  • Provide a safe harbor from private liability for forward-looking statements of repeat municipal issuers who are subject to, and current in, their ongoing disclosure obligations.
  • Permit the Internal Revenue Service to share with the SEC information that it obtains from returns, audits, and examinations related to municipal securities offerings in appropriate instances and with the necessary associated safeguards, particularly in instances of suspected securities fraud.
  • Provide a mechanism to enforce compliance with continuing disclosure requirements.

Our Public Finance Practice Group, chaired by Partner Jeffrey DeCarlo, provides preeminent legal service to players in the public finance arena, from governmental and quasi-governmental entities to underwriters and issuers. In a career that has spanned more than 30 years, Jeff has served as counsel on more than 800 bond financings totaling more than $10 billion. The Group handles financing for numerous types of bonds issue ranging from under $1 million to over $500 million. The Group works extensively with our Local Government Law Division in the representation of municipalities, counties, districts and community redevelopment agencies in a variety of public finance capacities.

 

Author(s): Jeffrey DeCarlo

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WSH Attorneys Validate $500M in Bonds for PACE District https://www.wsh-law.com/news-updates/wsh-attorneys-validate-500m-in-bonds-for-pace-district/#utm_source=rss&utm_medium=rss Thu, 31 Jan 2013 07:18:18 +0000 http://wsh.aplussclients.com/?p=3564 On October 23, 2012, WSH lawyers Mitchell J. Burnstein, Jeffrey DeCarlo, and Chad S. Friedman were successful in validating $500,000,000 in bonds on the behalf of the Green Corridor Property Assessment Clean Energy (PACE) District (the “District”), which is located within Miami-Dade County and currently includes the geographic boundaries of the City of Miami, City […]

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On October 23, 2012, WSH lawyers Mitchell J. Burnstein, Jeffrey DeCarlo, and Chad S. Friedman were successful in validating $500,000,000 in bonds on the behalf of the Green Corridor Property Assessment Clean Energy (PACE) District (the “District”), which is located within Miami-Dade County and currently includes the geographic boundaries of the City of Miami, City of Coral Gables, City of South Miami, Village of Pinecrest, Village of Palmetto Bay, Town of Cutler Bay, and Miami Shores Village. The District intends to use the bond proceeds to finance energy efficient (i.e. Energy star rated HVAC units), renewable energy (i.e. solar panels), and wind hardening improvements (i.e. impact resistant windows) on private properties within the District. These bonds will be paid for by voluntary special assessments to be placed on properties that chose to participate in the program.

Led by Partner Jeffrey DeCarlo, WSH’s Public Finance Practice Group provides high-quality legal services to every player in the public finance arena, from governmental and quasi-governmental entities that need access to capital markets, to underwriters and issuers. The Group complements our Local Government Law Division, which employs more than 30 attorneys practicing day-to-day municipal law. Our Environmental Law Group, chaired by Clifford A. Schulman, provides a comprehensive, holistic approach to assess and advise our clients concerning the environmental rules applicable to them; the Group represents business owners, developers, municipalities, water management districts, individuals, engineers and contractors in handling the latest and most complex environmental law issues.

Author(s): Chad S. Friedman & Brooke P. Dolara

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WSH Attorneys Recognized as https://www.wsh-law.com/news-updates/wsh-attorneys-recognized-as/#utm_source=rss&utm_medium=rss Thu, 31 Jan 2013 07:18:15 +0000 http://wsh.aplussclients.com/?p=3558 This week, South Florida Legal Guide’s Legal Leaders published its annual list of attorneys who have earned the coveted AV Martindale-Hubbell rating, the highest peer review rating available to an individual lawyer. Legal Leaders recognized several WSH attorneys as members of South Florida’s “Top Rated Lawyers” in different practice areas: Mitchell John Burnstein (Real Estate) […]

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This week, South Florida Legal Guide’s Legal Leaders published its annual list of attorneys who have earned the coveted AV Martindale-Hubbell rating, the highest peer review rating available to an individual lawyer. Legal Leaders recognized several WSH attorneys as members of South Florida’s “Top Rated Lawyers” in different practice areas:

Mitchell John Burnstein (Real Estate) – As chair of WSH’s Eminent Domain Practice Group, Mitch has served as lead counsel in hundreds of condemnation matters throughout Florida on behalf of public sector clients, private property owners, businesses and utilities. He is a senior trial attorney responsible for handling a wide variety of disputes involving real property. Mitch has served on the Florida Bar’s Eminent Domain Committee since 1993. A Member of the Firm, Mitch also serves as the Partner-in-Charge of the Broward Office.

Jamie A. Cole (Commercial Litigation) – Jamie is a skilled litigator and appellate advocate who represents private and public clients with an emphasis on commercial litigation and governmental matters. A member of our Litigation Division, Jamie has served as special litigation counsel for numerous municipalities and served as lead litigation counsel in lawsuits invalidating SB 360 (a bill relating to growth management) on constitutional grounds. He is also a member of our Local Government Law Division, and currently serves as City Attorney for the cities of Miramar and Weston. Jamie also serves as WSH’s Managing Director.

Jeffrey DeCarlo (Banking & Finance) – Jeff chairs WSH’s Public Finance Practice Group. He has practiced for more than 30 years in public finance and served as counsel on more than 800 bond financings totaling more than $10 billion. His practice includes representation of municipal governments in general matters of public finance. A member of the National Association of Bond Lawyers, Jeff is recognized as in the Bond Buyer’s Municipal Marketplace’s Red Book.

Ignacio G. del Valle (Real Estate) – A Partner in the Firm, Ignacio has more than 37 years experiencing practicing real estate law, including complex public/private transactions. He is a member of our Real Estate Practice Group, and has represented real estate investment funds and other investors in the acquisition, leasing, managing and disposition of numerous properties. Ignacio also serves as a title agent for several major title insurance companies.

Douglas R. Gonzales (Commercial Litigation) – A Partner in the Firm, Doug focuses his practice on general municipal representation, including general and municipal litigation. He serves as the Municipal Prosecutor for the City of Weston, and previously served as the Municipal Prosecutor and Assistant City Attorney for the City of Hollywood. As Chair of WSH’s Asset Forfeiture Group, Doug represents law enforcement agencies that have seized various assets being used in violation of the Florida Contraband Forfeiture Act.

Stephen J. Helfman (Real Estate) – A Founding Member of the Firm, Steve practices in the areas of real estate, zoning, growth management, subdivision law and land development. Steve serves as special real estate and zoning counsel to public companies and real estate development companies. A member of WSH’s Public Land Use and Zoning Practice Group, he has been extensively involved in the preparation of local government comprehensive plans and the adoption of municipal ordinances implementing those plans. Steve holds a Master of Law in Real Estate Finance and Development, and has served on the City of Miami Mayor’s Economic Advisory Council.

Gilberto Pastoriza (Real Estate) – A longtime Member of the Firm, Gil chairs WSH’s Private Land Use and Zoning Practice Group. His expertise covers the entire development spectrum, from property acquisition to certificate of occupancy for completed buildings. Gil has amassed numerous awards in the South Florida legal community for his work in real estate matters.

Gail Serota (Real Estate) – Gail has extensive experience in numerous aspects of commercial real estate transactions. A member of WSH’s Real Estate Practice Group, she has represented governments, developers, and lenders in a wide variety of real property sales, acquisitions, development, financing and leasing. Gail is Of Counsel to the Firm.

Joseph H. Serota (Commercial Litigation) – One of the Firm’s Founding Members, Joe has extensive experience representing private and public entities throughout South Florida in an array of matters from governmental to complex civil litigation. A skilled trial attorney and appellate advocate, Joe is a member of WSH’s Litigation Division and Appellate Practice Group, and has numerous reported opinions to his credit.

Author(s): Brooke P. Dolara

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Sequester Results in Reduction of Bond Subsidy Payments https://www.wsh-law.com/news-updates/sequester-results-in-reduction-of-bond-subsidy-payments/#utm_source=rss&utm_medium=rss Thu, 31 Jan 2013 07:18:12 +0000 http://wsh.aplussclients.com/?p=3543 In the first significant impact of the federal sequestration on municipal bond issuers, the IRS announced on Monday that payments to issuers that elected to receive a direct credit subsidy under the Build America Bonds, Qualified School Construction Bonds, Qualified Zone Academy Bonds, New Clean Renewable Energy Bonds, and Qualified Energy Conservation Bonds programs, will […]

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In the first significant impact of the federal sequestration on municipal bond issuers, the IRS announced on Monday that payments to issuers that elected to receive a direct credit subsidy under the Build America Bonds, Qualified School Construction Bonds, Qualified Zone Academy Bonds, New Clean Renewable Energy Bonds, and Qualified Energy Conservation Bonds programs, will be reduced 8.7% effective March 1, 2013. The sequestration reduction rate will be applied until the end of the fiscal year (September 30, 2013) or intervening Congressional action, at which time the sequestration rate is subject to change.

The popular programs were in effect during 2009 and 2010 as part of the federal stimulus packages enacted to deal with the financial crisis. Under the programs, bond issuers elected to forego tax-exempt interest rates on their bonds in exchange for the federal government providing annual subsidy payments to them which were to be used to pay a portion of the debt service on the bonds. The subsidy payments made it more financially attractive for issuers to forego tax-exemption on their bonds.

Of course, that analysis was based on the federal government actually paying the assumed amount of the subsidy. Few at the time thought the federal government would ever fail to pay the full subsidy amount, just as few ever thought sequestration would actually happen, and just as few ever thought the entire global financial system would have to be bailed out.

The financial crisis and partisan politics have demonstrated that what was once unthinkable is now reality and that worst case financial assumptions should henceforth become major considerations for municipal bond issuers in structuring their financings.

Our Public Finance Practice Group, chaired by Partner Jeffrey DeCarlo, provides preeminent legal service to players in the public finance arena, from governmental and quasi-governmental entities to underwriters and issuers. In a career that has spanned more than 30 years, Jeff has served as counsel on more than 1,200 bond financings totaling more than $12 billion. The Group handles financing for numerous types of bonds issue ranging from under $1 million to over $500 million. The Group works extensively with our Local Government Law Division in the representation of municipalities, counties, districts and community redevelopment agencies in a variety of public finance capacities.

Author(s): Jeffrey DeCarlo

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Threats To Tax-Exemption Of Municipal Bonds Diminish–For Now https://www.wsh-law.com/news-updates/threats-to-tax-exemption-of-municipal-bonds-diminish-for-now/#utm_source=rss&utm_medium=rss Thu, 31 Jan 2013 07:18:07 +0000 http://wsh.aplussclients.com/?p=3525 Municipal market participants are breathing a sigh of relief that the recent fiscal cliff agreement did not include any changes to the tax-exempt status of interest on municipal bonds. For months, the market had been concerned with proposals being floated that threatened to either eliminate or severely curtail the tax-exemption for municipal bonds.  The President […]

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Municipal market participants are breathing a sigh of relief that the recent fiscal cliff agreement did not include any changes to the tax-exempt status of interest on municipal bonds.

For months, the market had been concerned with proposals being floated that threatened to either eliminate or severely curtail the tax-exemption for municipal bonds.  The President had proposed limiting the tax break to the value received by those in the 28% tax bracket, effectively eliminating any additional exemption for those in higher tax brackets.  For example, under current law, a taxpayer in the 35% tax bracket that received $100,000 in municipal bond interest would not owe taxes on any of it, effectively lowering his tax bill by $35,000.  But under the President’s proposal, the same taxpayer would only be allowed an exemption of $28,000 (28% x $100,000), resulting in an additional tax payment of $7,000.  Market participants have estimated that the “28% cap” would result in municipal bond yields rising 40 to 60 basis points, and that complete elimination of the tax exemption would result in yields rising 200 basis points.  Rising yields, of course, increase the borrowing costs for local governments.

The Bond Buyer is reporting in an article published today that the industry trade group, Municipal Market Advisors, has reduced its forecast that Congress will make serious changes to the tax-exemption for municipal bonds from “50% or higher” prior to the fiscal cliff deal to “30% to 40%.” One of the main reasons for the slightly diminished risk in the near term is that the fiscal cliff deal permanently fixed tax rates, thus taking away the immediate pressure to address comprehensive tax reform.

The article points out, however, that the upcoming negotiations over the debt ceiling, sequestration and the passage of a budget resolution will likely keep municipal bonds in the crosshairs, as discussions about cutting spending may also incorporate piecemeal revenue raisers, including limiting the tax-exemption of municipal bond interest.  And, over the longer term, comprehensive tax reform is still a goal of many in Congress and the administration.

For those reasons, local governments are being urged to keep up the pressure on Washington to preserve the tax-exemption for municipal bond by contracting their Congressional representatives and joining in the lobbying efforts of industry participants.

Author(s): Jeffrey DeCarlo

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