Situation: Client displaced from home, unable to further its mission
- Client has owned property for over 50 years
- Property was only asset
- Building destroyed by fire, insurance unavailable
Legal Issues:
- Client had allowed intellectual infrastructure to become seriously outdated
- Property subject to various government sanctions
- Client had limited access to potential donors
- Client needs to partner with developer to redevelop property and rebuild
Legal Solution/Strategy:
- Update governance documents, including bylaws and investment policies
- Resolve outstanding citations and real estate tax exemption issues
- Recruit team and create strategy to redevelop property so it can both house client’s mission and provide a sustainable income stream to client
- Reach out to potential funders
Outcome:
Project ongoing.
