As the complexity of major development projects continues to evolve, with multiple sources of funding and financing, advances in design and construction means and methods, more sophisticated project delivery systems, and innovative risk-sharing and management approaches, so does the need for Project Counsel with hands-on experience and a comprehensive team approach. Our Project Counsel approach brings innovation and effective, creative problem-solving, as well as the ability to work effectively and efficiently with project teams, including in-house and external professional advisors.  Thanks to the diversity of our client base, we have served as Project Counsel to public and private entities throughout all phases of complex projects, working side-by-side with the public and private sectors.  We have experience on both the “buy” side and the “sell” side of complex P3 transactions.

Our P3 team has extensive experience in assisting public entities and private developers, contractors and equity entities. We have worked closely with public owners and private entities through all stages of the RFP process, including conducting extensive due diligence on potential development partners and clearly establishing the parameters for critical elements of the project.

In the context of concession and/or availability payment structures based on toll and other revenues, allocation of risk for revenue flow must also be addressed and determined. We have protected the interests of our public owner clients through the preparation and implementation of performance-based agreements designed to address the key project interests of cost, quality, schedule and safety through an integrated process. We also have negotiated appropriate and innovative control and operational mechanisms, allowing both the public and private parties to participate in project management. As counsel to the private sector, we use that knowledge to streamline the process and focus on the core issues.

Each agreement is designed to be performance outcome-based with the goal of coordinating and streamlining project management, operation and delivery.

The goal of establishing such elements is to ensure appropriate allocation of risk and responsibility for project delivery and long term asset performance. Our clients value our pragmatic and straightforward advice throughout all stages of the project.

Due to the scarcity of public funds, governments and public authorities are increasingly relying on P3s to structure projects. Our team works closely with its clients to investigate, identify and secure sources of public/private funding and financing, and to assist in the identification and pursuit of other strategies to deliver projects in a cost-effective and expeditious manner. Sources of funding and financing often include Availability Payments, federal, state and local grants, TIFIA, GARVEE bonds, Private Activity Bonds, and toll-based concession structures.

Our P3 team draws on the knowledge and experience the firm’s public finance team, a national practice devoted to the representation of domestic and foreign clients in researching, negotiating and documenting local and state tax and economic incentive transactions. These transactions can consist of numerous structures and arrangements, including tax exempt bond issues, real estate and personal property tax abatement agreements, tax increment financings, job training and other state grant arrangements, local or state income tax credits, enterprise zone and redevelopment areas, and low, no interest or forgivable loans. In addition, our P3 team includes tax counsel with skills in contemplating and negotiating federal, state and local tax issues throughout the term of project agreements.