Our experience includes these matters:

Toll Road Privatization and Transportation Systems Development

  • We are acting as privatization counsel to help the Virginia Department of Transportation partner with Fluor-Transurban to develop and operate high-occupancy toll lanes along the I-95/395 corridor just south of Washington, D.C. The financing arrangement includes an up-front payment that will allow officials to develop and expand mass transit projects throughout the commonwealth.

  • We represent the Commonwealth of Pennsylvania in the proposed P3 development, design, construction, financing, and operation of a "greenfield" marine container terminal facility and related facilities¬†in the City of Philadelphia. We structured a flexible, competitive selection process consistent with applicable procurement laws; conducted a pre-qualification round of solicitations and subsequently prepared a detailed request for proposals,¬†which was provided to private entities; coordinated due diligence; and prepared and negotiated confidentiality agreements. We also developed drafts of a comprehensive concession agreement and related documents and exhibits.

  • We provided legal counsel to the Governor of the Commonwealth of Pennsylvania in his bid to privatize the Pennsylvania Turnpike, one of the nation's oldest toll roads. We handled an array of legal issues, including bankruptcy and creditors' rights, taxation, zoning and real estate, environmental, labor and employment, constitutional, alternative dispute resolution and sovereign immunity, and pension and benefits. We drafted proposed implementing legislation and helped to negotiate and draft the concession agreement.

  • We acted as finance and bond counsel to the Knik Arm Bridge and Toll Authority for the financing of a new $600 million bridge in Anchorage. We helped develop a financing structure that may include taxable and tax-exempt bonds, a subordinated loan from the U.S. Department of Transportation, grants, toll revenues, and equity.

  • We are one of the firms chosen by the U.S. Department of Transportation as its special counsel for the TIFIA program. Our TIFIA financing work includes the rehabilitation and expansion of the Farley Post Office and Pennsylvania Railroad Station in New York City; the Central Texas Turnpike project in Austin, Texas; the Leeville Toll Bridge Project on the Louisiana Gulf Coast; and the Warwick Intermodal Project at the T.F. Green Airport in Warwick, Rhode Island, an intermodal project facility including a new Amtrak and light-rail station.

Energy Facilities/Infrastructure Projects

  • We represented the private participant in a P3 partnership with a county to develop a 1,800-ton-per-day waste-to-energy facility in Montgomery County, Maryland. We also assisted the client in making improvements to a recycling facility, sanitary landfill, and transfer station, including the construction of a railyard.

  • We drafted a state statute for the Commonwealth of Pennsylvania/PECO Energy that helped guarantee that electric utilities would recover stranded asset costs through adjustments to customers' bills. We then represented PECO in the issuance of $4 billion in bonds that securitized its recoverable stranded costs through the creation of a limited purpose trust.

Military and Public Housing

  • Our team represented investment bankers involved in financing the $1.1 billion privatization and rehabilitation of housing development projects in 21 Navy and Marine Corps residential communities throughout Hawaii. We pioneered the use of senior, mezzanine, and subordinated debt security structures and put together multiple securities offerings under Rule 144A and Regulation S.

  • We represented the Philadelphia, New Orleans, and Seattle housing authorities in P3 partnerships that resulted in the renovation of housing projects with more than $200 million in bond financings secured by federal public housing capital grant funds and leveraged with low-income tax credit equity.