Financial Services
Public & Project Finance
Getting Deals Done
At Spilman, we excel in tackling complex, innovative financing projects—the more complex the deal, the more driven we are to deliver creative solutions. Our attorneys have been involved in some of the most groundbreaking financings in West Virginia and Virginia, including large health care financings, significant tax increment financings, and the first municipal sales tax revenue financings in West Virginia.
Our team is committed to responding quickly and effectively, crafting creative strategies that allow our clients to achieve their project objectives. We regularly serve as bond counsel, disclosure counsel, issuer’s counsel, underwriter’s counsel, and developer’s counsel.
In this capacity, Spilman has led and participated in transactions for a wide variety of tax-exempt and taxable financings, including the following:
- Health care facilities, including aircraft
- Recreational facilities
- Higher education facilities
- Primary/secondary educational facilities
- Highways/public roads
- Government facilities
- Solid waste facilities
- Transportation facilities
- Parking facilities
- Manufacturing facilities
- Electrical generating facilities
- Drinking water facilities
- Wastewater facilities
Economic development projects are a particular area of unique strength for the Spilman team. We assist clients to structure, negotiate, and document economic development transactions, including the following:
- Municipal sales and use tax financings
- Tax increment financings
- Payments In Lieu Of Tax Agreements (PILOTs)
- Public-private partnerships
- Historic, New Market, and Low-Income Housing Tax Credits
Solutions for Your Municipal Financing Needs
Navigating the complexities of municipal financing requires a trusted partner with deep knowledge and a commitment to your success. Our team is here to provide comprehensive support across all aspects of municipal financings, offering tailored solutions to meet your unique needs. Whether you’re addressing compliance, audits, securities issues, or financial strategies, we have the experience and knowledge to guide you every step of the way.
Here are some of the key areas in which we can assist:
- Post-issuance tax compliance matters and monitoring
- "Private Business Use" analysis
- IRS audits of tax-exempt bonds
- Securities issues, including preparation of disclosure documents in publicly offered and private placement bond financings and related due diligence procedures
- Advice in connection with continuing disclosure filings with EMMA under Securities and Exchange Commission Rule 15c2-12
- Review and negotiation of hedge agreements, including interest rate swaps and other derivatives
- Representation of issuers and conduit borrowers in connection with bankruptcies and workouts involving municipal securities
- Drafting legislation, local ordinances, and regulations
- Training and education for your in-house legal or finance team
Maintaining Our Edge
At Spilman, our attorneys take pride in being collaborative professionals who work seamlessly alongside regional and national firms. Our public finance team is experienced in tax matters related to Section 103 of the Internal Revenue Code of 1986, as amended, and the accompanying Treasury regulations and rulings, and we include our federal tax experts in every public finance matter we handle.
We're serious about doing excellent work. Competence is where we start, but delivering results is where we finish.
To maintain our edge, we prioritize staying educated and up-to-date on the latest regulations and industry developments. Every member of our team is actively engaged in professional organizations such as the National Association of Bond Lawyers and the Local Government Attorneys of Virginia, Inc. Our dedication to excellence has earned us recognition across the industry. We have been listed in the Red Book since the group's inception, and our attorneys have been recognized as "Lawyer of the Year" by Best Lawyers for Public Finance Law in their respective communities, and recognized in Chambers USA: America's Leading Lawyers for Business for Corporate/Commercial: Banking & Finance.
Spilman’s full-service capabilities allow the Public and Project Finance team to collaborate with other practice groups, including the Government Relations, Local Government & Public Entity, Construction, Health Care, Utilities, and Environmental practice groups, to ensure that our clients are provided with the highest level of service.
To discuss your goals with Spilman's Public and Project Finance team, please contact our practice group chair: