Public authorities continue to face a mismatch between their capital plans and the amount of funding available from sources traditionally used to deliver, operate and maintain infrastructure. To fill in the gaps, federal, state and local authorities around the county are looking more frequently to procure many of their large, complex infrastructure projects as public-private partnerships (P3s or PPPs).
Our blend of experience acting for both public and private sector clients gives us a unique perspective on the legal, commercial and political factors that must be analyzed, understood and carefully managed as part of any P3. Our P3 team works collaboratively with our Construction, Environmental, Finance, Government and Regulatory, Intellectual Property and Tax practices. This multidisciplinary approach allows us to provide clients with comprehensive solutions for issues raised by these innovative transactions.
We work with clients at every stage of the project development process, from identifying P3 opportunities, preparing proposals and negotiating project agreements to advising on contract administration issues. Attorneys from our P3 team have advised on projects with an assortment of commercial structures (including revenue risk and availability payment arrangements) across a number of sectors, including transportation and social infrastructure.
Included among our P3 team members’ recent projects are the following:
- Advise a design-build joint venture through financial close of a $2.3 billion managed lanes P3
- Advise a state agency on a $2.1 billion design-build-finance-operate-maintain P3 for a new immersed tube tunnel and related roadway improvements
- Advise an EPC contractor in its pursuit of a $2.5 billion light rail P3
- Advise a state agency implementing a $2.4 billion network of managed lanes via design-build-finance-operate-maintain P3s
- Advise a design-builder on a $1.4 billion design-build-finance P3 for a greenfield toll road
- Advise a private-sector partner on a $2.8 billion greenfield highway P3 being delivered using “coal synergy” innovations to save billions in development costs
- Advise a state agency on its evaluation and due diligence of multi-billion dollar proposals for a long-term concession to operate marine cargo terminals
- Advise a developer on a $339 million design-build-finance P3 for 36 miles of highway improvements