Infrastructure

Infrastructure is, and will remain, one of the most central issues facing the country, as the US launches a massive plan aimed at modernizing nearly every aspect of our infrastructure, including roads, bridges, transit hubs, ports, and energy and water systems. Nixon Peabody understands the complexities of this industry—we have played a critical role in landmark projects throughout the country, from bridges across the Ohio River, to transit initiatives in New York City and San Francisco, to multiple solid waste and wastewater and energy projects. Our team serves as counsel on bonds, underwriting, disclosure, and lending. We work with state and local government, construction firms, developers, water and wastewater firms, lenders, and underwriters to ensure the success of these important largescale projects. 

• New York Metropolitan Transportation Authority (NYMTA) and Triborough Bridge and Tunnel Authority (TBTA): Serve as bond counsel to the NYMTA (subway, bus, and commuter railroads) and TBTA (nine bridges and tunnels) for decades in connection with tens of billions of dollars in bonds and notes. We have advised on NYMTA’s and TBTA’s use of their many revenue streams, including statewide and regional sales taxes and tolls on the bridges and tunnels, to maximize their bonding capability.
• San Diego Association of Governments (SANDAG): Served as underwriters’ counsel on the Bond Buyer’s 2019 Far West Deal of the Year, which was awarded to the $331 million capital grants receipts revenue bond sale by the San Diego Association of Governments. The proceeds from SANDAG’s bond sale helped accelerate the completion of the $2.17 billion Mid-Coast Corridor transit trolley project, San Diego’s largest transportation infrastructure project to date.
• Los Angeles County Metropolitan Transportation Authority: Served as disclosure counsel on the Bond Buyer’s 2019 ESG/Green Financing Deal of the Year, which was awarded for its $545 million offering Proposition C sales tax revenue bonds
• Los Angeles International Airport Automated People Mover Project: Served as bond counsel on the Bond Buyer’s 2018 Far West Deal of the Year, awarded for its $1.2 billion financing of the Los Angeles International Airport Automated People Mover Project
• Goethals Bridge Replacement: Lenders’ counsel in connection with the issuance of tax-exempt bonds to fund the replacement of the Goethals’ Bridge and the demolition of the existing bridge for the benefit of the concessionaire in connection with a public-private partnership transaction with the Port Authority of New York and New Jersey
• Privatized toll payment system: Counseled on the financing portion of a proposal submitted by our client to the Washington Metropolitan Area Transit Authority to install a new electronic payments program on its rail system
• Transbay Joint Powers Authority: Serving as financing counsel to the Transbay Joint Powers Authority in San Francisco, California, in connection with a multi-year, multi-billion-dollar mixed use development to replace the former bus depot with a commuter rail/high-speed rail/regional bus facility that will service Bay Area commuters
• Puerto Rico Highways and Transportation Authority: We served as special counsel and tax counsel to PRHTA in connection with its recently closed P3 transaction relating to two toll roads. The firm resolved all indenture issues in connection with the defeasance of just under $1 billion of tax-exempt bonds and the negotiation of closing agreements with the IRS.