A critical course for:
- Government personnel considering Public – Private Partnerships (P3 Projects)
- Managers responsible for the P3 procurement process, risks and opportunities
- Companies considering P3 Greenfield and Brownfield projects
- Contractors, developers, engineers, architects, private equity investors, project accountants and attorneys
Learn and Apply What Works and Avoid What Doesn’t Work
The infrastructure crisis in the United States has sparked renewed interest in Public-Private Partnerships (P3 Projects). The new Obama administration has pledged to strengthen America’s core infrastructure with a multi-billion economic stimulus package designed to create jobs and spur economic growth. Public-Private Partnerships are positioned as a key component in meeting the financing demands of the next wave of infrastructure projects. What and where are the new opportunities with this sharpened emphasis on public-works expenditure in 2009?
Both Government and industry will benefit from the advanced lessons-learned presented in this course. Seasoned professionals will detail the ways that federal, state and local officials conceive, design, finance, procure and construct Public-Private Partnership infrastructure projects. Many projects include infrastructure assets that are critical to economic expansion. Airports, seaports, surface and rail transportation, energy and power facilities, water and wastewater facilities, military bases and public buildings are all potential P3 projects.
The course will be interactive. Audience participation is encouraged. In addition to presentations, one full day will be devoted to case studies analyzing several completed P3 projects.
In short, this is a must attend course for both public and private employees on how to effectively guard against project risks and pitfalls.
We look forward to your participation.
P3 Program Chair Frank M. Rapoport was recently quoted in a Washington Post article discussing President-elect Barack Obama’s plans to create an Infrastructure Stimulus Package. Click Here to read more.
Day One
7:30am – 8:30am REGISTRATION AND BREAKFAST
8:30am – 9:00am Update on new Economic Stimulus for Infrastructure
- Where are the opportunities for contractors, developers and their private equity partners?
- How should state and local officials use new money from sales tax increases to better launch projects?
9:00am - 10:00am Case Study: Atlanta Wastewater/Water Outsourcing Project.
Key Discussion Points:
- Water
- Procurement processes
- Expectations and information
10:00am – 10:15am BREAK
10:15am-11:15am IDENTIFYING, SELECTING AND STRUCTURING THE P3 PROJECT
- Projects that call for P3 delivery
- Transportation, water, energy, housing infrastructure needs
- How to use enabling legislation
- What to do in the absence of legislation
- The Agency track record
- How to structure the deal: leases, joint ventures, licensing, concessions, management contracts
- Techniques for assessing and resolving Political issues and other courses of opposition
11:15am - 12:00 pm ASSESSING FEASIBILITY AND PLANNING THE P3 PROJECT
- Financial analysis; plotting revenues and expenditures for both public and private partners
- Value for money; evaluating the public sector comparator
- Understanding availability payments and concessions fees vs. traditional compensation for the private sector partner
- Sorting out the legal/regulatory analysis, practical advice
- How to conduct the technical analysis; site conditions, level of design/construction complexity
- How government agencies establish screening and evaluation processes for P3 proposal
12:00am – 12:45pm RISK MANAGEMENT/MINIMIZING RISK
- Strategies for minimizing risk for government agencies
- Development risk; delay, cost overrun, quality control
- Demand risk: revenue downsides, ridership guarantees, reserves
- Political risk
- Financial risk
- Strategies: boding, insurance, risk-sharing agreements
12:45pm – 1:45pm LUNCH
Luncheon Speaker:
Larry Blain, CEO of Partnerships British Columbia
Theme: Innovative Partnerships in North America
1:45pm – 2:45pm FEDERAL PROCUREMENT AND P3 PROJECTS
- Military housing, military utilities, enhanced-use leasing, other transactions authority, long-term contracting, competitive sourcing
- Budgetary scoring issues
- Agencies: VA, DoD, Interior, GSA
2:45pm – 3:45pm STATE AND LOCAL AGENCY PROCUREMENT
- Analyzing State legal options
- Best Practices for State and local officials
- The most important elements of state-enabling legislation
- Contract consideration; clauses which must be in the RFP
- Applicability of disclosure and open meeting laws
3:45pm – 4:00pm BREAK
4:00pm-5:00pm STATE AND LOCAL FINANCING
- Financing sources: municipal debt, bank loans, subordinated debt, equity, innovative finance, strategic and financial equity
- The financial transaction: negotiation, execution of financing and closing
- Evaluating the P3 bid: how to financially evaluate the strength of a bidder
- Monitoring the project and future regearing/refinancing
- Tax aspects of the deal
5:00pm-5:30pm UPDATE FROM THE NEW YORK STATE COMMISSION ON STATE ASSET MAXIMIZATION
- Which state assets are best suited for maximizing in light of the current economic and financial landscape?
- Which marketing approach is most aligned with state public policy and fiscal goals
- Lessons learned from other states and nations
Day Two
Case Studies/Simulated P3 Analysis and Exercise
9:00am – 10:15am 1 Case Study #1
Capital Beltway Project.
- Key Discussion Points:
- Managed lane toll roads
- Innovative financing
- Equity
10:15am – 10:30am BREAK
10:30am – 11:00am 2. Case Study #2
Correctional Treatment Facility Project in Washington, DC.
Key Discussion Points:
- Management
- Communications
11:00am – 12:00pm 3. Case Study #3
The DoD’s Military Housing Privatization Program.
Key Discussion Points
- Managing the political process to assure success in a P3 project.
12:00pm – 1:45pm LUNCHEON
1:45pm – 3:00pm SIMULATED P3 PROJECT ANALYSIS
A practical exercise in which course participants will apply what they’ve learned by analyzing a P3 project in its formative stages.
The exercise includes:
- Drafting the RFP in light of the existing legislation
- Structuring the financial terms of the offer
- Structuring the contractual terms of the offer
- Managing the political process to minimize project risk
3:00pm END OF COURSE
Course Faculty
Program Chair:
Frank M. Rapoport Partner, McKenna Long & Aldridge LLP
Highly regarded for his ability to strategize and implement profitable business initiatives for clients in the public and private
sectors.
Speakers:
Stephen Sorett Partner, McKenna Long & Aldridge LLP
Recognized for his work in public contracts, privatization and outsourcing • Actively participated in more than 300 projects covering wastewater treatment works, drinking water systems, resource recovery plants, light rail and intermodal transportation
projects and municipal buildings.
Scott Rafshoon Partner, McKenna Long & Aldridge LLP
Leader in the Firm’s public-private partnership (P3) practice • Currently managing an interdisciplinary team in the privatization and subsequent redevelopment, management, construction and renovation of military family housing facilities at military installations around the country.
Penny Cobey Of Counsel, McKenna Long & Aldridge LLP
Concentrates on real estate development, infrastructure and
public-private partnerships • Experienced in project development
and structuring, complex design and construction contracts,
insurance and land use.
Sasha Page Vice President, Infrastructure Management Group Advises public and private organizations on finance, project development and public-private partnerships • Formerly Vice President of two international investment banks in their project and municipal finance departments.
Mark Halleman Vice President, Infrastructure Management Group
Specializes in the development of public-private partnerships and the management of municipal infrastructure operations • Focuses on innovative ways to increase the cost effectiveness of municipal operations through performance management.
John S. Harris, Partner, McKenna Long & Aldridge LLP
Leader in the Public Policy and Regulatory Affairs practice in Albany, New York. Focuses on administrative law and government affairs, representing clients before state and local agencies in connection with the regulatory review, permitting, financing and development of projects such as residential apartment complexes, landfills, recycling facilities, asphalt plants, mines, golf courses, office buildings, casinos, shopping centers and electric transmission and generation projects. Counseled clients in connection with large hazardous waste remediations, violations of the State’s pesticide regulations, negotiated consent orders with the Department of Environmental Conservation (DEC), and assisted with the preparation of applications to DEC for eligibility in New York’s Brownfield Tax Credit Program.
John E. Joyner, President, Infrastructure Management Group, Inc.
Mr. John Joyner has over 25 years of senior management experience in corporate management, city management, and infrastructure project development. He brings extensive experience in negotiating public-private partnerships, implementing utility performance improvement programs, and developing water, power, and solid waste projects, including alternative infrastructure delivery methods such as Design-Build-Operate-Finance. He has a unique blend of hands-on experience ranging from a municipal official to a private utility service provider.
Prior to joining IMG, Mr. Joyner served as the chief marketing officer for United Water, one of the largest U.S. water companies, where he led the development efforts for groundbreaking public-private partnerships in the water industry. Mr. Joyner was also Vice President of project development for Ogden Energy, an independent power company active in the U.S. and Asia, and President of Consumat Systems, a NASDAQ listed solid waste company that designed, built, and operated municipal waste-to- energy facilities. Mr. Joyner began his career as a city planner in Massachusetts. He holds a BS from Rutgers University and a Masters Degree in Regional Planning from the University of Massachusetts.
Amy G. Solomon, Managing Director McKenna Long & Aldridge LLP
Director with a 30 year history of working in and with State and local governments. Uniquely qualified to advise clients on effective navigation of public policy and regulatory issues, at all levels of government in New York. Represented numerous clients on a wide range of issues before the State Legislature, the Governor's office and executive branch agencies, including the Empire State Development Corporation, the Department of Agriculture and Markets, the Department of Health, the Insurance Department, the Department of Environmental Conservation and the Office of General Services.
SUSAN MARTINOVICH, P.E., Director, Nevada Department of Transportation
Susan Martinovich has worked for the Nevada Department of Transportation for more than 25 years. In this position, she is responsible for the daily operations of the department that has an annual operating budget of $674 million and 1,700 employees. Ms. Martinovich is also involved in national activities in the areas of project management, safety, and research. She is actively involved in the American Association of State Highway Transportation Officials, and currently serves as chair of the Standing Committee on Research, vice-chair for the Standing Committee on Highway Traffic Safety, and chair of the Leadership and Engineering Management Committee. She is a member of the Transportation Research Board Executive Committee in addition to many other Transportation Research Board committees, including the Oversight Committee for SHRP-II, which will oversee the national research activities identified in SAFETEA-LU.
Luncheon Speakers:
Larry Blain CEO of Partnerships British Columbia
Chief Executive Officer of Partnerships BC, an internationally known company dedicated to the development of public-private partnerships • Partnerships BC is adept at identifying opportunities and implementing innovative public-private project solutions.
“’Ten to 20 years from now infrastructure could be larger than real estate,’ said Mark Weisdorf, head of infrastructure investments at JPMorgan.” --New York Times, 8/26/08
"'We are facing an infrastructure crisis in this country that threatens our status as an economic superpower, and threatens the health and safety of the people we serve,' New York Mayor Michael R. Bloomberg told Congress this year. In January he joined forces with Mr. Schwarzenegger and Gov. Edward G. Rendell of Pennsylvania to start a nonprofit group to raise awareness about the problem." --New York Times, 8/26/08