Bryant Miller Olive represents public and private sector participants in public-private partnership (P3) initiatives. We advise local governments and for-profit and not-for-profit organizations pursuing P3 projects, as well as federal agencies providing financing for P3 projects. We assist these entities in developing and implementing creative solutions when available public resources are inadequate to satisfy demands for or when private enterprise may enhance the provision of public facilities and services. The countless definitions of “P3 project” all share a basic theme: contractually allocating risks and rewards between the public sector and private sector at some or all of the points along the asset life cycle –– planning, designing, financing, constructing, operating, maintaining, and owning.
Bryant Miller Olive lawyers know how to reconcile the differing perspectives of the public and private sectors, which often pose a major risk to P3 projects. Bryant Miller Olive attorneys are intimately familiar with procurement and contracting strategies designed to guard the public trust, while attracting private investment. International experience coupled with local knowledge helps unify the P3 stakeholders: bankers, contractors, designers, developers, governments, investors, and operators.
Our P3 experience includes complex transportation projects, port facilities, convention centers, housing, public utilities, healthcare, water and sewer, education, stadiums, arenas, civic centers, prisons, public buildings, parking facilities, solid waste management facilities and electric generation and transmission facilities. Some highlights:
- Higher Education: P3 projects have included the development of a new campus for a state community college with classroom facilities to be leased to both the state college and a state university. Our P3 projects for state universities have included a number of on campus projects for student housing for start-up projects with 200 beds to major reconstruction projects with 2,200 beds and ancillary facilities for retail, health and wellness and dining. Other on-campus projects include arenas, conference centers and hotels. These projects include both debt financed and equity financed projects
- Transportation. Our representation of the Joint Project Office for the Transportation Infrastructure Finance and Innovation Act (“TIFIA”) program has included P3 financings to private concessionaire’s for the California Presidio Parkway Project for $149 million, the Virginia I-95 HOT/HOV Lanes Project for $300 million and the Texas Grand Parkway Project for $840 million.
- Local Governments: We have negotiated on behalf of our local government clients a number of economic incentive agreements in order to support the development of commercial, retail, hotel, parking and residential improvements as part of economic redevelopment projects.
- Pier Park: Served as lead counsel on the Pier Park development in Panama City Beach, Florida, negotiating a sophisticated P3 agreement that has delivered an extraordinary mixed use, retail, tourism and recreational venue. The developer achieved delivery of significant infrastructure sooner than it otherwise could have while the city received a high quality beachfront project delivered years ahead of when it otherwise could have. This financing included the leveraging of public funds, tax increment financing and non ad valorem special assessments.