Continued downward pressure on government budgets combined with mounting need for improvements to roads, sewers, schools and other public assets creates business opportunities for private companies to partner with public entities to fill that void. Public, Private Partnerships (P3) are mutually advantageous arrangements allowing public needs to be met with private financing, ingenuity and experience and permits the public sector to transfer some of the risks of such projects to the private sector.
Becker established its Public, Private Partnership practice team with attorneys having proven public and private sector knowledge, experience and contacts in order to assist governmental entities and businesses seeking to partner on public facilities in overcoming dwindling government funds and ever-increasing demands for improved roads, sewers, schools, civic buildings and other public assets.
Becker’s P3 team of attorneys is skilled in navigating the complex legal frameworks that govern P3 transactions, and we offer strategic counsel to both public and private sector clients, ensuring that projects are structured effectively, risk is allocates appropriately, and both parties’ interests are protected. Our lawyers advise clients in the structuring, development, construction, financing, procurement, dispute resolution, and tax implications of P3 and infrastructure privatization projects. In addition, our public policy professionals have significant experience in P3 legislation and in the appropriations process for P3 projects.
Representative Services:
Public-private partnerships bring together the strengths of both the public and private sectors but also require careful attention to detail in structuring agreements, managing risks, and ensuring compliance with government regulations. Our P3 legal services include:
- Project Structuring and Financing:
- P3 projects often require innovative financing solutions. We assist clients in structuring the financial framework of the project, including the identification of funding sources, project finance mechanisms, and bond issuance. Our attorneys help structure joint ventures and other models that best meet project goals.
- Negotiation and Drafting of P3 Agreements:
- One of the most critical aspects of a P3 project is the legal agreement between the public and private sectors. Our team is experienced in negotiating and drafting complex agreements, including concession agreements, development agreements, service contracts, and public-private financing agreements. We ensure that these agreements clearly define project milestones, timelines, performance metrics, and obligations of all parties involved.
- Risk Allocation and Compliance:
- We help clients identify, allocate, and manage the risks inherent in public-private partnerships. Our attorneys have a deep understanding of risk-sharing models and can advise on strategies to minimize financial and operational risks while ensuring compliance with local, state, and federal laws. We also assist with navigating environmental regulations, labor laws, and procurement processes.
- Public Procurement and Transparency:
- We advise public sector clients on procurement processes, ensuring transparency, fairness, and compliance with public bidding laws. Our attorneys assist in the development of competitive bidding procedures and help negotiate procurement contracts that align with legal requirements and public policy goals.
Representative Matters:
- Louisiana State University’s P3 development of the Nicholson Gateway, a residential hall/mixed use, multi-phase project estimated at approximately $400 million
- University of Central Florida and Bethune Cookman University (a private development following the P3 model)
- Wet N Wild water park in Fort Lauderdale
- Broward County Convention Center Hotel
- Nova Southeastern University’s residential hall (another private development following the P3 model)
- Fort Lauderdale International Swimming Hall of Fame Complex P3 Project