Skip to Main Content.

Public-Private Partnerships

Creative project financing, done right.

Public-private partnerships (P3s), which involve significant risk sharing between the public and private sectors, require a comprehensive and multi-disciplinary approach. Providing legal counsel regarding P3 projects is no different. Our P3 team features recognized leaders in project finance, construction, public contracting, real estate, tax, dispute resolution and environmental law. We combine specialized knowledge with real-world business experience to ensure that critical elements of our clients P3 projects are delivered on time, within budget, and with programming that meets all stakeholder objectives.

Key Contacts

A smiling individual with short hair is wearing a grey blazer over a dark top and a silver necklace.
Denise (Barkdull) Lund

Practice Group Leader

Indianapolis, IN

A woman is smiling at the camera, wearing a blazer and a necklace.
Amy Condaras


Charleston, WV

A formally dressed person with a tie is posing for a professional headshot against a plain background.
John S. Egan


Louisville, KY

A smiling man is wearing a blue suit and patterned tie against a plain white background.
Thomas Gabelman


Cincinnati, OH

Florence, KY

A smiling individual wearing glasses, a dark blazer, and a patterned shirt against a solid white background.
Trey Grayson

Practice Group Leader

Florence, KY

Washington, D.C.

A smiling individual wearing a dark suit, light blue tie, and a white pocket square stands against a white background.
Jason M. Halligan


Lexington, KY

A balding individual is wearing a dark suit with a purple tie and smiling at the camera against a plain white background.
Emmett M. Kelly


Columbus, OH

A smiling person wearing glasses is dressed in professional attire with a tie and suit jacket.
David A. Rogers


Columbus, OH

A person in professional attire with a blue tie and a confident expression.
C. Michael Shull, III


Louisville, KY

Denver, CO

A man is smiling while wearing a black suit, white shirt, and a red striped tie against a white background.
Stephen P. Withee


Columbus, OH

Charleston, WV

A smiling individual with short hair wearing a suit and a blue tie against a plain background.
Patrick Woodside


Cincinnati, OH

A person is wearing a blue suit, a pink tie, and a matching pink pocket square, with a white shirt and a smile.
Beau F. Zoeller


Louisville, KY

Indianapolis, IN

A person with shoulder-length brown hair is wearing a black blazer over a white top and smiling at the camera.
Carrie J. Cecil


Charleston, WV

Our Approach

Project Counsel Services

As the complexity of major development projects continues to evolve, with multiple sources of funding and financing, advances in design and construction means and methods, more sophisticated project delivery systems, and innovative risk-sharing and management approaches, so does the need for project counsel with hands-on experience and a comprehensive team approach. Our “project counsel” approach brings innovation and effective, creative problem-solving, as well as the ability to work effectively and efficiently with project teams, including in-house and external professional advisors. Thanks to the diversity of our client base, we have served as project counsel to public and private entities throughout all phases of complex projects, working side-by-side with the public and private sectors on both the “buy” and the “sell” side of complex P3 transactions.

Project Development to Project Completion

Our P3 team has extensive experience in assisting public entities and private developers, contractors and equity entities. We have worked closely with public owners and private entities through all stages of the RFP process, including conducting extensive due diligence on potential development partners and clearly establishing the parameters for critical elements of the project.

In the context of concession and/or availability payment structures based on toll and other revenues, allocation of risk for revenue flow must also be addressed and determined. We have protected the interests of our public owner clients through the preparation and implementation of performance-based agreements designed to address the key project interests of cost, quality, schedule and safety through an integrated process. We also have negotiated appropriate and innovative control and operational mechanisms, allowing both the public and private parties to participate in project management. As counsel to the private sector, we use that knowledge to streamline the process and focus on the core issues.

Each agreement is designed to be performance outcome-based with the goal of coordinating and streamlining project management, operation and delivery.

The goal of establishing such elements is to ensure appropriate allocation of risk and responsibility for project delivery and long term asset performance. Our clients value our pragmatic and straightforward advice throughout all stages of the project.

Project Funding & Financing

Due to the scarcity of public funds, governments and public authorities are increasingly relying on P3s to structure projects. Our team works closely with its clients to investigate, identify and secure sources of public/private funding and financing, and to assist in the identification and pursuit of other strategies to deliver projects in a cost-effective and expeditious manner. Sources of funding and financing often include Availability Payments, federal, state and local grants, TIFIA, GARVEE bonds, Private Activity Bonds and toll-based concession structures.

Tax & Economic Incentives

Our public-private partnership team draws on the knowledge and experience of the firm’s public finance team, a national practice devoted to the representation of domestic and foreign clients in researching, negotiating and documenting local and state tax and economic incentive transactions. These transactions can consist of numerous structures and arrangements, including tax exempt bond issues, real estate and personal property tax abatement agreements, tax increment financings, job training and other state grant arrangements, local or state income tax credits, enterprise zone and redevelopment areas and low, no interest or forgivable loans. In addition, our P3 team includes tax counsel that are skilled at contemplating and negotiating federal, state and local tax issues throughout the term of project agreements.

A Smarter P3

Over the years our team has developed a comprehensive approach — what we call the “Smart P3” concept  — which accounts for all project components (e.g., energy, infrastructure, transportation, finance). Through this integrated framework, we’re able to tailor funding and financing strategies to each distinct component, all while still meeting overall project objectives.

Learn More

Our Work

Comprehensive Services

From development, funding and financing to design, construction and operation, our team works with investors and developers across all aspects of the P3 project life-cycle. Specifically, we advise on the following:

  • Public-private partnership structures
  • Project finance and development
  • Public procurement and contracting
  • Integrated project delivery methodologies
  • Design-build-finance (DBF)
  • Design-build-finance-operate/maintain (DBFOM)
  • RFI/RFQ/RFP document development, process and selection
  • Federal and state grants and loans
  • Project implementation and management issues
  • Construction
  • Regulatory and code compliance matters
  • Surety bonding
  • Insurance and risk management
  • Property acquisition and eminent domain
  • Small and disadvantaged business/economic inclusion
  • Labor and employment
  • OSHA and safety
  • Environmental regulations
  • State and local taxation and tax incentives
  • Intellectual property
  • Dispute avoidance and resolution.
  • Consolidation, restructuring and workouts

Experience by Sector

Our P3 team has assisted in the development of numerous transit and social infrastructure projects, as well as alternative energy installations, waste management sites and oil and gas storage facilities. This experience has given us a deep understanding of the various markets in which major projects are being developed, including:

  • Rail
  • Roads
  • Bridges
  • Airports
  • Ports
Social Infrastructure
  • Education
  • Public buildings/facilities
  • Parking
  • Stadium/arena
  • Social housing
  • Healthcare
  • Municipal works/utilities
Environmental & Energy
  • Power generation and transmission
  • Oil and gas storage and transportation
  • Water and waste management
  • Alternative energy/PACE
Other Areas
  • Defense and national security
  • Telecommunications infrastructure
  • IT/national broadband

Case Studies

Related Insights

Wooden jigsaw puzzle pieces forming a house shape, on a desk with blank sheet of paper with copy space, calculator, folding ruler, drawing compass, Euro coins, pencil and a computer keyboard.
Legislative Roundup: Examining State Responses to the Affordable Housing Crisis

March 28, 2024 | Blogs

There is an unprecedented housing shortage in the United States. The Harvard Joint Center for Housin...

View of modern apartment building on a sunny day with warm lighting
Using the Master Lease to Tackle the Los Angeles Housing Crisis

March 20, 2024 | Blogs

The City of Los Angeles (the “City”) continues to implement new programs to tackle its ongoing h...

A businessperson is using a stylus to edit work reports on a tablet computer, which, combined with a mobile device, allows them to work more smoothly.
A Refresher on Selective Disclosure and Anti-Fraud Rules

March 14, 2024 | Publications

What Is Selective Disclosure? The desire of investors to obtain additional information regarding iss...

Aerial view of a large suburban housing subdivision located just south of Houston Texas shot from an altitude of about 800 feet during a helicopter photo flight.
Treasury Significantly Expands Use of ARPA Funds to Promote Affordable Housing Supply

March 12, 2024 | Publications

On March 5, 2024, the U.S. Department of Treasury released updated guidance regarding the use of Cor...

A woman with shoulder-length blonde hair is smiling, wearing a white jacket, and is framed by a blue circle.
Frances Kern Mennone Assumes Managing Director Role in Frost Brown Todd’s Consulting Group

March 6, 2024 | Press Releases

CINCINNATI (March 4, 2024) – Frost Brown Todd (FBT) announced today that Frances Kern Mennone has ...

2024. Benjamin Franklin looking calculator on One Hundred Dollar Bill.
Less Than One Year Left to Obligate Your ARPA Funds!

February 20, 2024 | Publications

For many local governments and state agencies, the direct influx of cash made available through the ...

A construction crane is lifting a dollar sign, with three additional dollar signs on the ground beside it.
Commercial to Residential Assistance by the White House

January 5, 2024 | Publications

On October 27, the Biden-Harris administration announced new initiatives across various governmental...

A financial market graph is overlaid on a close-up of Benjamin Franklin's face from the U.S. $100 bill.
Considerations for Commercial Borrowers: Mitigating Uncertainty and Risk with Interest Rate Swaps

November 10, 2023 | Blogs

Commercial borrowers often use interest rate swaps to manage interest rate risk in loan transactions...

Finance and banking concept. Euro coins and us dollar banknote close-up. Abstract image of Financial system with selective focus, toned, double exposure.
LIBOR, an Extinct Species, and What Comes Next

June 16, 2023 | Publications

Effective June 30, 2023, the London Interbank Offered Rate (LIBOR) joins the Brontosaurus, the dodo ...

Concept of renewable energy solution in beautiful morning light. Installation of solar power plant, container battery energy storage systems, wind turbine farm and city in background. 3d rendering.
C-PACE to Help Developments Make a Change for the Better. . .

May 30, 2023 | Publications

A version of this article was published in Law360’s Expert Analysis. The Origins of PACE The p...

Stay ahead of the law.

Subscribe to receive email updates and choose your topics.