Webinar: A Review of Essential Public-Private Partnership Concepts

The Bond Buyer

Webinaire | December.17.2019 | 12pm - 1pm (Eastern Standard Time)

Webcast

An ongoing trend in the public finance market is the use of public-private partnerships or P3s. P3s can offer public agencies tools to make the designing, building, financing, operating and maintaining of public infrastructure more efficient. P3s have been used successfully for decades in the United States, but with new financial pressures on federal, state and local agencies, many agencies have brought a renewed focus on P3s as a way to more efficiently manage or reduce the cost of providing public services, including utilities, transportation and even social infrastructure.

Please join Orrick and The Bond Buyer for a webinar to learn more about the various considerations and financing structures available for government sponsors considering P3 methods of delivery for a project or service.

Topics to be discussed:

  • P3 Financing and Delivery
  • Project Development and Lifecycle; Enterprise Concessions
  • Risk Allocation Tools and the Meaning of Partnership
  • Tax-Exempt Financing Analysis, Non-Profits and Private Activity Bonds
  • Sample Financing Structures
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Practice:

  • Finance Sector
  • Public Finance

Devin Brennan Partner

San Francisco

Devin represents issuer, underwriter and private sponsor clients in transportation, water, wastewater, public power, pollution control and other large infrastructure financings.

Such transactions have involved both long- and short-term, fixed and variable rate obligations, public-private partnerships (P3s), commercial paper, swaps, credit and liquidity enhancement, and revenue bonds for transportation and utility issuers, as well as a number of sizable special purpose financings. Devin has also represented multiple clients in connection with chapter 9 bankruptcies, restructurings and other workouts.

Devin is a partner in Orrick’s San Francisco office and chairs the Firm’s Transportation Finance Group. Devin has served on the Hiring and Summer Program Committees in the San Francisco office, and helps organize the firm's annual summer surf trip to Capitola Beach. Devin is a past Chair of the Bond Buyer's California Public Finance Conference, and is currently a member of the Strategy Council for OneJustice, an organization dedicated to transforming the delivery of legal services to Californians in need.

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Practice:

  • Finance Sector
  • Fiscalité

Charles C. Cardall Partner

San Francisco

Charles Cardall is a tax partner in the San Francisco office and also a member of the Public Finance Practice Group. Chas was chair of Orrick’s Tax Practice Group from 2015 to 2022. Chas primarily focuses his practice on municipal finance tax and nonprofit corporation tax matters.

He also has legal experience relating to both charter schools and the federal income tax classification of governmental and quasi-governmental entities. He has consulted on thousands of tax-exempt, build America and tax credit bond issues and has developed deep knowledge in almost every tax aspect of municipal finance. Private activity bonds for multifamily housing, solid waste, charter schools and independent schools are areas of particular focus in his practice, as are higher education, short-term and long-term working capital and the various forms of pooled financings. Chas also has advised numerous clients experiencing financial distress or bankruptcy in tax matters relating to their municipal bonds. Representative active clients include the State of California, the University of California, the Bay Area Toll Authority, and Charter School Capital.

As a legal and policy advocate, Chas represents both government and non-government clients in federal tax rulemaking matters and in IRS proceedings, including the various types of tax-exempt bond audits, voluntary compliance (VCAP) requests and requests for private letter rulings. He has successfully closed IRS examinations relating to solid waste, water and wastewater, working capital, healthcare, pooled, multifamily housing, and industrial development bond financings. He has obtained multiple private letter rulings and technical advice memoranda and has been integrally involved in numerous regulation and legislative projects. He has found that a close working relationship with IRS and Treasury Department personnel often is critical to obtaining good results for clients.

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Practice:

  • Finance Sector
  • Fiscalité

Richard Chirls Partner

New York

Richard Chirls, a New York tax partner, focuses his practice on the tax aspects of public finance transactions.  He has served as the head of Orrick’s nationally recognized Public Finance Tax Group.

With more than 30 years of experience, Richard is widely recognized as one of the nation’s foremost authorities, having broad experience with tax exempt financings and related transactions involving governmental and not-for-profit entities.  His skill and stature in the public finance community was recognized by the National Association of Bond Lawyers’ highest award for his career of distinguished service in public finance. 

Richard focuses on new products, including the development of new and creative financing techniques for governments, non-profits and investment bankers. He regularly works on transactions throughout the country.  However, in his home office in New York City, he leads the relationship with the Port Authority of New York and New Jersey, serving as counsel on well over 100 transactions over a period of more than 20 years and has headed the tax work in connection with every financing of a cultural facility relating to museums and performing arts in New York City over this same period.  Richard has worked on the tax aspects of several of the largest and most complex public private partnership (P3) transactions in recent years.  He frequently acts as special tax counsel to issuers and underwriters of municipal finance issues.