The importance of private/public partnerships in today’s business climate cannot be overstated. It has become increasingly apparent that governments at the city, county and state level across the nation have ongoing revenue issues. Infrastructure costs continue to mount as revenues continue to drop. This creates an opportunity to forge private/public partnerships (P3) situations where private sector companies contract with governmental entities to fund and run specific projects. The attorneys at Clark Hill have counseled clients on both sides of these partnerships, representing the interests of both the private and public sectors in a wide variety of situations.
Each side of a P3 relationship has a unique perspective. The Government wants to protect its assets while mitigating the cost of running and operating them. The private industry wants to make profitable investments while fostering innovation and building revenue streams. With the best private/public partnerships, both sides achieve their goals: One side does not have to lose in order for the other to win. Clark Hill understands what it takes for government to work smoothly with private sector clients, and we can help all participants to navigate the business landscape as smoothly as possible.
Clark Hill is equipped to provide services across all phases of P3 projects: Design, Finance, Build, and Operate.
The world of private/public partnerships can be dauntingly complex and, frankly, filled with red tape. The key is knowing how to unravel it all. Clark Hill has been involved in a great many of these partnerships from their very beginning bid stages, and worked through them with both our public and private sector clients on the many types of issues that arise including labor, zoning, licensing, legislation and regulatory hurdles.
Clark Hill attorneys have unique capabilities across areas such as Tax-Exempt Bond Financing, New Market and Historic Tax Credits and traditional commercial financing. We have represented universities, banks, and municipalities in finding the right blend of financing, which is essential to the implementation of a project. Clark Hill attorneys have been able to unlock projects that had been stalled because traditional funding sources were not sufficient. The Clark Hill P3 team has been able to unleash tremendous value for clients such as public universities that have needed capital projects. We have also assisted municipalities looking for a method to accomplish much needed improvements to governmental buildings in times of shrinking tax revenue.
When it is time to break ground on your P3 project, there is no greater ally than Clark Hill’s construction practice group to navigate through all areas of the construction process. Many of our attorneys have engineering degrees and contracting backgrounds which allow us to understand the day-to-day aspects of seeing a project to completion. We have assisted multiple clients in structuring RFPs and negotiating contracts. Our areas of strength include drafting of bid and contract documents, project administration, claim preparation and dispute resolution.
Once the project has been built, there is a myriad of complexities during the operations phase. One of the most important is the management group that will be running the project on a daily basis. The structure of the management agreement or lease is key to the long term success of all parties. How these operating agreements are structured will have a significant impact on the project’s rate of return for both public and private investors.
Clark Hill represents clients across the nation, and has offices in nine states (Michigan, Pennsylvania, Illinois, New Jersey, Arizona, West Virginia, Delaware, California and Nevada), Washington D.C., and Dublin, Ireland. Each jurisdiction has unique guidelines to navigate in order to implement P3 projects. We also have partner lobbyists and attorneys in Ohio and Indiana that have the depth and breadth of knowledge to guide you through the possibilities and achieve positive outcomes.