In Connecticut, loans to community associations are usually secured by a pledge of the associations’ right to collect common charges from the unit owners. During the 1980s, Matt Perlstein closed some of the first such loans, when they were unusual. Now, we routinely represent community associations in closings on such loans. Our largest was a multi-million dollar loan to an association with 160 units for the replacement of roofs, windows, and siding on all of the buildings in the community. (As part of the process of obtaining the loan, we amended and restated the community’s documents to include authority to pledge common charges as collateral and to implement a more balanced way of approving special assessments and renovations). We recently represented a downtown association on the closing of a loan for over a million dollars to renovate the exterior of a historically significant high-rise tower.