Addressing Opportunities and Challenges in Public-Private Partnership
Governments of developing countries are increasingly turning to Public-Private Partnerships (PPPs) as an alternative additional source of funding for infrastructure projects due to constraints on financial and public resources. While there are many advantages in employing PPP, there are also a number of potential risks associated with such partnership. To avoid these risks and leverage the opportunities of PPP, it is important for the parties involved to first understand several key considerations, including the capital investment required, the technical and technological requirements of the project, and the operational controls, before signing a PPP agreement.
In this LIVE Webcast, a panel of thought leaders and practitioners assembled by The Knowledge Group will discuss the potential opportunities and challenges in a Public-Private Partnership. They will also offer best practices in addressing the most commonly raised issues with PPPs.
Key topics include:
- What is a Public-Private Partnership?
- The Benefits and Drawbacks of PPPs
- Common Issues to Consider
- The Use of PPPs in the US
- Structuring Payments under a PPP Agreement
- Best Practices for Delivering Efficient PPP Projects
Robert S. Goldsmith, Partner
Greenbaum Rowe Smith & Davis LLP
- Looking at special improvement districts – the quintessential public-private partnership.
- The benefits and challenges of municipal parking authorities.
- Balancing public perception with economic reality (e.g. PILOT agreements).
- The need for flexibility and open-mindedness on both sides of a public-private partnership.
Jong Sook P. Nee, Partner
NP Law LLC
- I think the current economic climate continues to be ripe for P3 investment. Interest rates are relatively low and the need for infrastructure investment continues to grow at an alarming demand.
- Public sentiment continues to lag, however, there does seem to be growing interest in P3 since many projects need alternative sources of financing.
- The laws are not catching up to demand, however, I think there is a strong case to be made for being creative in finding legal paths to P3. This can also be a vehicle to being creative in the forms of P3.
- Public entities can consider P3 for public goods and services that enhance living, rather than straight P3 for typical governmental services (e.g. wi-fi, cable, etc.)
- As far as challenges, I think there has to be some consideration given to public sentiment about certain governmental services (i.e. water as a right) and also the cost of capital and the imbalance it can bring to a large project
Karl P. Baker, Partner
Golden Steves & Gordon LLP
- Importance of understanding legal limitations affecting governmental entities when structuring deals (e.g. Governmental Immunity and Competitive bidding requirements)
- Importance of understanding the political limitations affecting the governmental entities
- Greater need to anticipate future issues and handle these contingencies
- Different funding sources bring different limitations
- Well organized documents are important
Jeffrey O. Lewis, Partner
Ice Miller LLP
Public Private Partnerships are often complex projects involving more than 1 governmental entity. What are options for these governmental entities to consider in determining how they will relate to one another? Special issues may arise in situations where:
- Governmental entities are not accountable to the same authority or constituency
- One entity is subordinate to another entity
- The project involves more than one jurisdiction, particularly in the context of bi state projects
- Entities are of different characters—eg, counties and universities—with different kinds of powers
Alternative intergovernmental contractual formats, such as
- Memoranda of Understanding
- Project Development Agreements
- Substantive financial, debt or land disposition agreements
- Formal interlocal agreements
Examples of situations where one type of agreement might be preferable, and the relative advantages and disadvantages of the alternatives.
Who Should Attend:
- Government and Development Professionals
- Senior Management
- Executive Directors
- Legal and Consulting Industries
- Development Agency Officials
- C-level Executives
- Business Development Leaders
- Managing Directors
- Government Agencies
- Private Companies
- Public Companies
- Chief Financial Officers
Jeffrey Lewis is a partner in the Municipal Bond practice at Ice Miller. Jeff's primary practice concentrations are in tax-exempt finance and municipal securities law, with a focus on transactions for colleges, universities, museums and other educational, cultural or charitable institutions. Jeff focuses on public-private partnerships on behalf of governmental entities and leads Ice Miller's P3 practice group development. Jeff was a member of the team of Ice Miller lawyers representing the Indiana Finance Authority in its bi-state development of the $2.5 billion Ohio River Bridges Project with the Commonwealth of Kentucky, among other P3 3experience.
Jeff is a Fellow of the American College of Bond Counsel and a Fellow of the Indianapolis Bar Foundation. He has been a regular panelist on a variety of topics at national seminars of the National Association of Bond Lawyers, as well as a speaker at the President's Institute of the Counsel of Independent Colleges. He has also been a presenter for the National Association of Independent Schools (NAIS), the Treasury Institute for Higher Education, the Tax Institute For Colleges and Universities (TIFCU), the Council for Advancement and Support of Education (Case V), the National Association of College and University Business Officers (NACUBO) and the Central Association of College and University Business Officers (CACUBO).
Jeffrey Lewis is a partner in the Municipal Bond practice at Ice Miller. Jeff's primary practice concentrations are in tax-exempt …
Robert S. Goldsmith is Co-Chair of the Redevelopment & Land Use Department at Greenbaum, Rowe, Smith & Davis LLP. His practice focuses on redevelopment, downtown and urban revitalization, transit oriented development, project financing and incentives, sustainable building initiatives and public-private partnerships. His experience encompasses counseling clients on the specialized issues in redevelopment related to strategy, process, parking demand, design and construction. Mr. Goldsmith has represented numerous clients within the state in both the public and private sectors. He also has broad experience in complex commercial litigation, construction litigation and appellate work. Mr. Goldsmith lectures frequently on issues related to the redevelopment process in New Jersey for a variety of groups and organizations. He developed and teaches a course in redevelopment law at Rutgers University School of Law.
Robert S. Goldsmith is Co-Chair of the Redevelopment & Land Use Department at Greenbaum, Rowe, Smith & Davis LLP. His …
Jong Sook has developed her practice in various fields, including commercial lending and banking, public finance, tax exemptions, governmental law, commercial leasing, housing, land use and public private partnerships. These disciplines have allowed her to develop a comprehensive understanding of development finance from multiple perspectives. In addition, she has served two state governors offering policy and legal advice on state issues affecting all aspects of life, including affordable housing, universal healthcare, statewide planning and economic development incentives. Using her past experience in state government and working with local governments, Ms. Nee can provide a balanced insight into governmental policies and procedures.
Ms. Nee combines her years of experience to hone a practice that can creatively address the many issues that impact development across the spectrum, from land use approvals to federal tax credit financings. Since no two projects are alike, no two solutions have to be. Ms. Nee has developed expertise in the fields of redevelopment and real estate finance which has provided her with an insight into comprehensive development financial planning. From modest commercial loan closings to complex tax credit take-out financing with multiple lenders, NP Law can structure a solution.
Ms. Nee works closely with Lillian A. Plata to structure holistic financial frameworks that service the immediate financial needs, as well as any future tax or financing interests that could be impacted. Ms. Nee takes a holistic and proactive approach to client projects to help ensure the success of all projects, large and small
Jong Sook has developed her practice in various fields, including commercial lending and banking, public finance, tax exemptions, governmental law, …
Karl is a partner with the firm of Golden Steves & Gordon LLP. Karl’s practice includes the representation of clients in the acquisition, disposition, development, leasing and financing of retail, industrial, residential and office properties. He also routinely advises private developers seeking entitlements and incentives from cities, counties and other governmental entities across Texas. In his practice, Karl has represented both private and public sector clients in the formation of public-private partnerships relating to the development of a broad range of real estate assets and public amenities.
Karl is a partner with the firm of Golden Steves & Gordon LLP. Karl’s practice includes the representation of clients …
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About Ice Miller LLP
Ice Miller is a full service law firm dedicated to helping our clients stay ahead of a changing world. With over 340 legal professionals in eight offices, we advise clients on all aspects of complex business issues across more than 20 practice areas. Our clients include emerging growth companies, FORTUNE 500 corporations, municipal entities and nonprofits. For more information, please visit icemiller.com or our P3 page at https://www.icemiller.com/practices/public-private-partnerships/.
About Greenbaum Rowe Smith & Davis LLP
Greenbaum, Rowe, Smith & Davis is a multi-practice law firm serving local, regional and national clients. As one of New Jersey’s leading law firms, the firm brings diverse and comprehensive expertise to the representation of both businesses and individuals. For over 100 years, the firm has earned the trust and loyalty of clients by providing sophisticated, creative and cost-effective representation through collaborative teamwork, proactive legal strategies, attention to detail and relationship-oriented service.
About NP Law LLC
NP Law LLC combines its decades of experience to help you structure financial solutions for complex development projects. The attorneys at NP Law LLC are leaders in tax credit financing paired with local and state incentives in addition to other forms of financing and subsidies. NP Law focuses on getting to a “yes” under the law and being an innovative partner with all of its clients.
About Golden Steves & Gordon LLP
Headquartered in San Antonio, the attorneys and professionals at Golden Steves & Gordon LLP focus their practice on commercial real estate, land use and development, economic incentives, oil and gas and business transactions. Their broad commercial real estate practice begins with the entitlement process and continues through all transactional aspects of a project.