McManimon, Scotland & Baumann, LLC is at the forefront of helping municipalities realize the financial benefits of the privatization of essential government services. Public-Private Partnerships (P3) is a tool for both the public and private sectors to join experience, skills and assets to deliver facilities and services that best serve the public, while sharing risks. While P3 can be a potent tool to delivr major projects and services, it is not always appropriate in every case. Our attorneys have unparalleled expertise in Public-Private Partnerships and are able to offer clients valuable advice relating to all aspects of the privatization process.
Issues When Implementing P3
Analysis: What is the value for money for the public entity? How will risks be monetized and apportioned among the parties?
Financing: How are the revenues to be shared or what payments shall be paid to the private entity? Will bonds be issued on a tax-exempt or taxable basis? What types of equity and debt structure can be supported by the project?
Negotiation: What are the deliverables for each entity and the timeframes for same? How is risk apportioned among the parties and how is it financed? What are the procedures for dispute resolution? What are the monitoring and oversight requirements for the project?
Implementation: What are the statutory and regulatory requirements or hurdles for the P3? What are the procurement requirements, if any, for the public entity? What approvals are required and in what time frame?
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For more information about our P3 practice, please contact Joseph P. Baumann, Jr. at 973-622-5259.
The New Jersey City University Board of Trustees has unanimously approved the definitive partnership agreement with Kean University, a binding merger agreement that will move this historic consolidation forward.
MS&B has guided the structure of a groundbreaking partnership between the Newark Housing Authority and the New Jersey Performing Arts Center, one that honors the legacy of Newark's first public housing complex while cementing the City’s reputation as a film production hub.
