Practice Areas & Industries: Greenberg Traurig, LLP

 




Public-Private Partnerships (P3) Return to Practice Areas & Industries

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Public-Private Partnership One-Pager

A Public-Private Partnership (P3) refers to a contractual arrangement between public and private sector partners pertaining to the design, construction, operation, management and/or finance of revenue generating public infrastructure facilities and projects. P3s have been used in industry sectors as diverse as roads, airports, utilities, ports, schools and hospitals. Generally, the public sector partner retains the advantages of public ownership of the facility or asset, while the private partner brings expertise in operations and management, and project execution efficiencies.

Greenberg Traurig (GT) attorneys have the combined experience and business acumen to help government and private sector clients achieve their objectives in the P3 sector. GT has the ability to quickly deploy highly focused teams of attorneys experienced in the development, construction, financing, ownership and operation of the variety of P3 amenable project types.

We bring one-stop legal services for our client’s P3 project needs, eliminating the need to rely on multiple firms to address the spectrum of legal issues typically encountered in a P3. Additionally, our extensive national and international offices, resources, and reach uniquely position us to serve projects throughout the U.S., Central and South America, Canada, the Caribbean, Europe, and Asia.

Our attorneys have represented project sponsors, banks and institutional investors, monoline insurance companies, contractors, facility operators, and state and local government agencies. Through our representation of a wide range of clients, we understand the objectives of all parties with interests in P3s, and are able to advise on how to effectively balance competing interests.

Projects on which Greenberg Traurig attorneys have been engaged extend to virtually all industries involved in P3 infrastructure transactions and other public-private arrangements, including:

  • Roads, bridges and tunnels
     
  • Rail facilities
     
  • Airports and seaports
     
  • Electric generation and transmission facilities
     
  • Natural gas supply, transmission and distribution facilities
     
  • Water and wastewater treatment plants and reclaimed water systems
     
  • Solid waste and waster to energy facilities
     
  • Telecommunications facilities
     
  • Petrochemical projects
     
  • Arenas and convention centers
     
  • Housing
     
  • Community infrastructure development
     
  • Hospitals

We have participated in transactions employing the entire range of project structuring techniques and have made significant contributions to the evolution of many of those techniques. We have particular experience in the adaptation of P3 delivery structures (including D.B.O., B.O.O., B.O.T. and B.O.O.T) to projects in later-developing nations in order to respond to the needs of sponsors and lenders in light of local country conditions.

Whether a client’s business objective is monetizing infrastructure revenue streams, financing of a new or expanded infrastructure, or efficiently managing or operating infrastructure, GT attorneys have the depth and breadth of knowledge and experience to bring the applicable project to fruition.

P3 Legal Services

  • Representation of sponsors, lenders, state and local governments, and other clients in connection with the development, structuring, financing, construction and operation of a wide range of transportation and other infrastructure projects.
     
  • Assisting private and governmental clients in the drafting of legislation underpinning key P3 infrastructure projects in the U.S. and overseas.
     
  • Negotiating infrastructure concession agreements, lease and license agreements, privatized operations and management agreements, and sale/leaseback agreements.
     
  • Negotiating and drafting the full range of construction agreements (including engineering, procurement and construction contracts) and construction enhancement mechanisms (including sponsor support agreements, performance bonds, guarantees and letters of credit).
     
  • Representation in a full range of financings, including private placements, public offerings, (in both the U.S. and overseas), IPOs and Rule 144A transactions, secured and unsecured bilateral and syndicated, credit facilities, industrial development bond financing, tax-free and taxable state and local government financing.
     
  • Negotiation and structuring of joint development, limited partnership, limited liability and other types of agreements for project participants, as well as all project-related contracts.
     
  • Full range of tax advice, including cross-border tax issues, tax analyses, fuel excise tax controversies, tax incentive negotiations, sales tax rulings and energy tax credits.
     
  • Advice to both international and U.S. clients on international and domestic compliance issues (including the Patriot Act and Foreign Corrupt Practices Act).

 
 
Articles Authored by Lawyers at this office:

A Brief Recap of Recent Regulatory Actions Regarding Short-Term, Small-Dollar Lending
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, December 09, 2013
Providers of short-term, small-dollar loans, including deposit advance products and payday loans, have increasingly come under attack in recent months by Federal and State regulators. These attacks have been both collateral and direct and they appear to be close to reaching a dramatic crescendo. A...

On Party Line Vote, House Financial Services Committee Passes Six Bills Aimed at Restructuring the CFPB
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, November 29, 2013
On November 21st, the House Financial Services Committee passed six bills aimed at bringing oversight, accountability and transparency to the CFPB. Committee Chairman Jeb Hensarling (R-TX) called the bills “common-sense bills that bring a modicum of accountability and transparency to the...

CFPB Trial Disclosure Program Now Effective
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, November 15, 2013
On October 29th, the CFPB’s Notice of Policy regarding its Trial Disclosure Program was published in the Federal Register, thus making the Policy effective. Section 1032(e) of the Dodd-Frank Act permits consumer financial service providers to “conduct a trial program that is limited in...

Federal Financial Regulators Issue Diversity Policy Statement
Robert E. Bostrom,Peter L. Cockrell,Gil Rudolph,J. Scott Sheehan, November 05, 2013
On October 23rd, the OCC, the Federal Reserve Board, the FDIC, the NCUA, the SEC, and the CFPB issued a proposal for joint standards to assess the diversity policies and practices of their respective regulated entities. Section 342 of the Dodd-Frank Act requires each of these agencies to develop...

CFPB Issues Interim Final Rule and Bulletin Clarifying Mortgage Servicing Requirements
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, October 31, 2013
On October 15th, the CFPB issued an Interim Final Rule and CFPB Bulletin 2013-12. Both provide clarification regarding certain aspects of the CFPB’s recently published Mortgage Servicing Rule (MSR). The Bulletin provides guidance regarding: (1) policies and procedures for successors in...

CFPB Issues HMDA Compliance Bulletin
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, October 18, 2013
In conjunction with the CFPB’s HMDA actions discussed above, the CFPB issued Bulletin 2013-10 on October 9th. The Bulletin sets forth the Bureau’s expectations that lenders will implement compliance programs designed to ensure that they collect and report accurate HMDA data in a timely...

CFPB Removing Enforcement Attorneys from Supervisory Exams
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, October 18, 2013
On October 10th, the CFPB announced that it will discontinue its controversial practice of sending its enforcement attorneys to participate alongside supervision examiners in its examinations of supervised entities. This practice had been a major point of contention between the CFPB and the...

CFPB Takes Action against Financial Institutions for HMDA Violations
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, October 18, 2013
On October 9th, the CFPB ordered both a bank and nonbank mortgage lender to pay fines for violating the Home Mortgage Disclosure Act (HMDA). The CFPB entered consent orders with Mortgage Master, Inc. and Washington Federal, requiring them to pay to pay civil penalties of $425,000 and $34,000,...

CFPB Issues Report on CARD Act; Identifies Six 'Risky' Card Issuer Practices that May Warrant Scrutiny
Robert E. Bostrom,Brett M. Kitt,Gil Rudolph, October 07, 2013
On October 2, 2013, the Consumer Financial Protection Bureau (CFPB) published a report that both evaluates the impact of recent credit card legislation and identifies several “risky” card issuer practices that may draw future CFPB scrutiny.

'Skin in the Game' Credit Risk Retention Rules Re-Proposed
Robert E. Bostrom,Carl A. Fornaris,Lindsay K. Lefteroff,Mark I. Michigan,Gil Rudolph, September 16, 2013
On August 28, 2013, six federal financial services agencies issued a notice revising a proposed rule to implement Section 941 of the Dodd-Frank Act, which requires sponsors of securitization transactions to retain at least five percent credit risk in such transactions. By requiring securitizers to...