The New York City Industrial Development Agency yesterday approved the selection of four firms to do bond counsel work and adopted new policies and a fee schedule affecting borrowers.

The IDA kept its three existing bond counsel firms, Hawkins Delafield & Wood LLP, Nixon Peabody LLP and Winston & Strawn LLP, and added Hiscock & Barclay LLP. The firms were chosen from among 18 that responded to a request for proposals issued in November 2007. The firms will serve as bond and tax counsel on IDA transactions, project counsel for industrial incentive program and straight lease transactions, and provide ancillary legal services to the IDA.

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