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Financing Nonprofit and Private Office Buildings 

Hodgson Russ represents an industrial development agency in a significant development involving a major hospital in the financing of a $60 million office tower that will be occupied by nonprofit tenants and for-profit tenants. The project presents a number of issues, including the allocation of tax-exempt financing for the project and the use of a payment in lieu of taxes (PILOT) agreement relating to the for-profit portions of the office tower