P3s -- Public-Private Partnerships

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Kutak Rock has served as transaction, bond, concessionaire’s, developer’s, lender’s, equity investor’s, underwriter’s, financial advisors and tax counsel for public-private partnership (P3) financings all over the world, including many of the earliest P3 financings for our nation’s toll roads and military housing. We have served as counsel to the service branch, the developer or the lender in more than 100 military housing P3s in almost every state of the United States; as bond or underwriter’s counsel for highway and airport financings in every region of the nation; as bond or underwriter’s counsel for more than 20 convention center or hotel P3s; as underwriter’s counsel for several large sports arena P3s; and as underwriter’s counsel for one of the few P3s for a water utility.

Public-Private Partnerships With the Federal Government

Kutak Rock lawyers have extensive experience assisting federal, state and local governments, developers and financial institutions to structure and close public-private partnership transactions in all forms of infrastructure projects, including roadways, rail systems, ports and terminals, military housing, specialized facilities, water, sewer and solid waste systems, alternative energy projects, airports, environmental cleanup, primary and higher education, temporary housing, hospital and health care facilities, correctional facilities and federal offices, electric production, distribution and transmission, and other areas. We have worked on public-private federal transactions with the Department of Defense (DoD, including the Departments of the Navy, Air Force and Army), Department of Energy (DOE, including Western Area Power Administration), Department of Veterans Affairs (VA) and other federal agencies and state and local governments.

Our firm has participated in more military housing privatization transactions than any other law firm in the nation. Since 2000 we have worked in various roles on more than 100 public-private military housing transactions (where the government leased the underlying property to a private entity) with an aggregate value of more than $16.9 billion. Our government clients have included the U.S. Air Force, the consultant for the U.S. Department of the Navy, the U.S. Army, the Army and Air Force Exchange Service (AAFES), the U.S. Department of Veterans Affairs, U.S. General Services Administration, and other federal agencies. Our firm assisted the VA to negotiate and close the real estate and financing aspects of one of its largest enhanced use lease transactions, including service agreements, in the past several years, and the U.S. Air Force in completing its first enhanced use lease transaction for the Air Force Research Laboratory at Kirtland Air Force Base in New Mexico.

In addition to assisting clients with the privatization of facilities, we counsel clients in the acquisition and privatization of federal utility systems and. with negotiating both the utility system acquisitions and the federal contracts for the provision of utility services to federal agencies. Kutak Rock has worked on the privatization of both DoD and DOE facilities.

Our work in these areas has led to a strong understanding of White House Office of Management & Budget (OMB) scoring issues that influence these transactions—experience that is invaluable in any federal public-private transaction.

On the private sector side, our attorneys have served as counsel to developers, lenders and credit enhancers on public-private transactions. Our lawyers are known for their ability to assist our clients in understanding the unique federal, state and local laws and policies and tax issues that must be addressed to balance the government and private sector needs into a financeable transaction. Several of Kutak Rock’s PPP transactions have been awarded “deal of the year” by The Bond Buyer.