Public Finance: ESG
Smart In Your World
Investors, lenders, governments, NGOs, non-profits, and other participants in the public and mission-oriented non-profit sectors are increasingly considering ESG-related factors, such as climate change, social justice, and inclusive governing, in making investment decisions and decisions about what projects to pursue. Our group is actively assisting these parties in all aspects of these projects to devise innovative and impactful programs and financings, as highlighted below.
- Representing a Tribal consortium on what is expected to be the largest renewable project in the country when completed, generating an anticipated 2GW of power, a portion of the expenses of which are likely to be financed with tax-exempt bonds, federal loans, federal tax credits and/or bridge loans.
- Advised a county board through authorizing and regulating the development of a renewable natural gas operation through the conversion of landfill gas to energy.
- Represented infrastructure clients on tax, real estate, and environmental and energy permitting and risk issues through tax equity financing of utility-scale wind farms.
- Advised solar energy facility developers on contracts with utilities for the procurement of renewable energy credits under Illinois renewable energy laws.
- Advising a start-up company in the creation of a national car charging network and potential access to related Federal loan programs.
- Represented a city in its negotiation of a vendor contract for the installation of increased energy efficiency street lighting and the related underlying tax-exempt equipment purchase financing.
- Representing the developer of a demonstration project evidencing proof-of-concept that existing office buildings can be retrofitted to be net neutral in both power and water consumption.
- Advised landfill owner on contracting for the development and operation of and profits from an on-site landfill gas-to-energy facility.
- Counsel to Illinois Finance Authority with respect to the State of Illinois Clean Water Initiative Revolving Fund Bond Program (Green Bonds)
- Represented the seller of 51,000 acres of land to the State of Washington for conservation and resource management purposes, as well as the development of a solar farm.
- Advised client on the creation and sale of wetland mitigation bank credits.
Workforce and Affordable Housing
- Created a private sector mechanism for preserving workforce housing including the formation of and the obtaining of IRS recognition for non-profit client Washington Housing Conservancy. The first project preserves 825 housing units and provides social services for the tenants. It is funded with loans and grants from a global corporation’s housing equity fund, loans from a private-sector impact fund, and a modest amount of philanthropic equity.
- Represent a government-sponsored enterprise (GSE) nationally in credit enhancing affordable multifamily housing bond transactions. Loan proceeds are being used to pay a portion of the cost of acquiring, rehabilitating, and equipping over 1,700 apartments in 18 tenant-occupied public housing buildings in New York City. The transformation of these units is featured in this CBS News segment.
- Assisted a GSE with the development of sponsor-initiated affordability restrictions for conventional multifamily housing properties to encourage the increased supply of workforce housing, help borrowers garner ESG designation, and achieve favorable financing terms.