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Despite the economic havoc continuing to be felt across the country – or perhaps because of it – mergers and acquisitions on Long Island are red hot, as business owners and buyers alike seek out new opportunities. CMM recently helped one such business owner by successfully pushing a deal across the finish line, unhampered by these uncertain times.

Vincent Costa, with assistance from Corporate Paralegal Katharine Campolo, handled the asset sale on behalf of our client, a Suffolk County-based sheet metal fabricator that has produced customized parts for the aerospace, military, medical, and communication fields for nearly three decades. The buyer is also a local business, which means the deal not only helped our client start a new chapter; the deal will also help keep jobs and dollars on Long Island during this critical time.

Many business owners are turning these trying times into new opportunities by selling or restructuring their businesses. Contact us today for guidance.

First time’s the charm for CMM’s Richard DeMaio, who argued his first appeal in the Appellate Division, Second Department, and won! The Court’s decision is a spectacular outcome for our client, a Village on the East End, and demonstrates why municipalities turn to CMM for guidance with all aspects of their operations.

The appeal concerned the 2017 denial of a homeowner’s application for an area variance by the Village’s Zoning Board of Appeals (ZBA) with respect to lot size. The homeowner challenged the denial in Suffolk County Supreme Court via an Article 78 petition, but the Court denied the petition and dismissed the proceeding. Trying once more, the homeowner – seeking to subdivide the property into two lots – appealed that decision to the Appellate Division, Second Department, which sits in Brooklyn.

Under the guidance of CMM Senior Partner Scott Middleton, DeMaio drafted the appellate brief, outlining why the Supreme Court’s decision should be upheld on appeal. In his first oral argument before the Appellate Division, DeMaio argued that the Supreme Court properly found that Village’s denial of the variance application had a rational basis, because allowing a second lot on a property of less than the square footage set forth in the Village Code would cause an undesirable change in a neighborhood characterized by lots much larger than required by the Code. In its decision, the Appellate Division agreed, noting that the ZBA “engaged in the required balancing test and considered the relevant statutory factors.” Moreover, the Court noted that the homeowner was presumed to have known about the applicable zoning restrictions when he purchased the property, and therefore, any hardship was “self-created.”

This result is a major win for the Village, supporting its ability to make zoning decisions that preserve its character. Learn more about our Municipal and Appeals practices and call us at (631) 738-9100 for guidance.

The Guide Dog Foundation and its sister organization, America’s VetDogs, have announced the election of Joe Campolo to serve on the executive committee of the boards of directors. The executive committee oversees each board, providing counsel and oversight to advance the organizations’ missions to provide guide and service dogs and training – free of charge – to people who are blind or have low vision, and to those who have served our country honorably. Members of the boards of directors develop strategies and policies as well as ensuring proper resources are available to carry out its mission, monitor the finances of the organizations, its programs, and performance.

Joe Campolo is the managing partner of Campolo, Middleton & McCormick, LLP, recognized by Forbes as a Top Corporate Law Firm in America. He has spearheaded some of the most important initiatives in recent years to grow the regional economy and is the chairman of the HIA-LI board of directors. As a veteran of the United States Marine Corps, he is passionate about veterans and veteran’s causes. 

“Joe has played an integral role on our board and I’m thrilled to have him join our executive committee,” said John Miller, president and CEO of the Guide Dog Foundation and America’s VetDogs. “He has brought a wealth of experience and expertise in his field to our organizations and has embraced our mission to assist individuals with disabilities. With his strong background in leadership, Joe will be an asset on our executive committee as we further our missions.”

The Guide Dog Foundation and America’s VetDogs boards of directors comprise volunteer leaders from the medical, business, academic, and military and veteran communities. Members of the boards of directors set strategic direction and policy, and help raise awareness of the organizations’ services.

View Campolo’s recent discussion with Miller on “Business Unusual,” Campolo’s weekly business recovery webinar, here.

Congratulations to CMM Controller Amanda L. Sexton, CPA/ABV/CFF, CFE, who has been named to the New York State Society of CPAs (NYSSCPA) inaugural 40 Under 40 list. The awards recognize CPAs and accounting professionals with notable skills who are visibly making a difference in the profession. The winners will be presented with their awards during the NYSSCPA NextGen Conference later this month, held online due to the pandemic.

As Controller, Sexton oversees CMM’s accounting department and is responsible for budgeting and forecasting, cash flow management, financial reporting, internal controls assessments, year-end tax planning, and managing the firm’s banking relationships. These roles have taken on added significance during the COVID-19 pandemic. In addition, with her credentials and licenses including ABV (Accredited in Business Valuation), CFF (Certified in Financial Forensics), and CFE (Certified Fraud Examiner), Sexton adds another dimension to the services that CMM provides to its clients.

Sexton served as the youngest President in the history of the Suffolk chapter of NYSSCPA, created two new committees that continue to serve the Society’s members today, and actively seeks out new knowledge and experience in both public and private accounting.

Prior to joining CMM, Sexton served as Controller for a $30MM construction contractor in Suffolk County. She began her career in public accounting, primarily in the areas of accounting and auditing, business valuation and litigation support. She has provided expert witness testimony multiple times in the Supreme Court of the State of New York, and also has several years of experience auditing grant programs funded by various federal, state and local agencies.