Public Financing for Infrastructure

Understanding infrastructure funding mechanisms is a critical aspect of our project development practice.  We understand the public funding of major projects that include airports, highways, rail and transit systems, water systems, power and renewables facilities, social infrastructure, transit-oriented development, real estate development and similar projects.  We also have extensive experience in development-related infrastructure financing, such as tax increment financing, special districts, and convention center hotels, as well as forms of financing such as private activity bonds (PABs), other forms of bonding, bank finance, and private placement, and federal TIFIA and RRIF loans.  We typically advise clients on funding issues related to such financing, the structure and options for such financing as well as the negotiation and implementation of such financing.

Representative Experience

  • Represent Massachusetts Port Authority as bond counsel, including recent issuances of revenue bonds, subordinated obligations, commercial paper, and special facility revenue bonds for Boston Logan International Airport fuel system improvements.
  • Serve as disclosure counsel for Salt Lake City International Airport.
  • Served as underwriter’s counsel for recent financing for Milwaukee’s General Mitchell International Airport.
  • Represented the City and County of Denver on the redevelopment of the 113-year old, 250-acre National Western Center Campus.  Our Firm is advising Denver on the structuring and procurement of a P3 developer to design, build, finance, market, program, operate, and maintain approximately 60 acres on the southeast corner of the campus.  This project, referred to as the “Triangle” project and is likely to be structured as a hybrid availability payment and market rate real estate development revenue-risk P3.
  • Representing the Colorado Department of Transportation (CDOT) on the financing, acquisition, and entitlement of property from the Metropolitan Football Stadium District for the construction of a new state headquarters building, including negotiation of a shared use parking agreement with the Denver Broncos; advised on the disposition of the existing state and regional headquarters properties to the City and County of Denver for a proposed mixed-use affordable housing development.
  • Represented the Colorado Department of Transportation (CDOT) both as procurement counsel and as environmental/litigation counsel for the complex Central 70 project on I-70 to replace an aging interstate viaduct in central Denver with a below-grade, covered segment of the interstate with greater capacity.  This availability payment P3 project was financed through a combination of TIFIA and private activity bonds and backed by a unique Bridge Enterprise credit.  The project was recognized in 2018 by P3 Bulletin in its annual awards in the Best Financial Structure category.
  • Represented the City and County of Denver Department of Aviation on a public-private partnership for the development of the Peña Station rail station as a transit-oriented development.  Our involvement included issues related to real estate, public and private finance, land use, and other regulatory issues.  The Denver City Council approved the key agreements associated with the $50 million infrastructure financing package in May 2015.  The financing closed and construction commenced in June 2015.
  • Represented master redeveloper of the former Stapleton International Airport property in structuring and implementing a plan for more than $600 million in infrastructure financing.
  • Represented a nonprofit authority in the issuance of more than $350 million in bonds to finance construction of a convention center hotel and in negotiating the construction/program management agreements and the hotel operating agreement.
  • Represented master developer of regional inter-modal transportation hub in finance and governance issues associated with project development, as well as structuring the master development related to land purchase and development.
  • Represented master developer of proposed bioscience park in structuring the transaction, negotiating master development agreement, and restructuring tax increment package to provide for infrastructure.