Terance V. Walsh

Terance Walsh is an associate in Nixon Peabody’s Project Finance and Public Finance group. He primarily represents industrial development agencies, local development corporations, and other municipal bond issuers, as well as lenders and underwriters, in tax-exempt bond and leaseback transactions. He advises clients on public offerings and private placements, serving as bond, underwriter’s, and disclosure counsel.

What do you focus on?

Economic Development

I represent industrial development agencies and borrowers in numerous leaseback transactions that provide abatements in real property tax and exemptions from mortgage recording and sales tax to incentivize economic development and capital investment in communities. I have worked with municipalities and developers to structure tax incentives that both stimulate private sector growth and foster additional tax revenues for municipalities. I also have extensive experience counseling industrial development agencies on ever-changing compliance issues, letting economic development agencies focus on their mission of encouraging local economic growth while complying with requirements and expectations of state regulators.

Tax-Exempt 501(c)(3) Bond Financings

As bond counsel for local development corporations and other municipal bond issuers, I have worked on bond financings for many nonprofits. My work on these transactions has helped health care providers, continuing care retirement communities, charter schools, institutions of higher learning, and many other nonprofit organizations access tax-exempt capital so they can focus on and carry out their charitable missions. I help issuers, underwriters, and borrowers structure transaction and security documents for financings ranging from construction of new senior living communities to well-established colleges and universities looking to refinance existing debt to achieve significant savings.

Underwriter and Disclosure Counsel

I have significant experience as underwriter’s counsel and disclosure counsel in connection with affordable housing, infrastructure, and general obligation financings. In this capacity, I have assisted clients with the due diligence reviews and disclosure drafting required for the sale of securities. My work as underwriter’s and disclosure counsel includes transactions that help municipalities fulfill their long-term energy needs through prepayment of natural gas and electricity supplies in order to pass those savings along to the ratepayers. I also have significant experience preparing disclosures for state and local governments and joint powers agencies in connection with general obligation bond financings as well as bond financings secured by revenues from property and sales taxes.

What do you see on the horizon?

Local communities and state organizations will continue to have the ability to use tax incentives and tax-exempt financings to encourage and spur job growth and the development of healthy and productive communities. These tax incentives have been, and will continue to be, especially critical for communities in need of quality affordable housing. There continues to be great need for financing to invest in energy and infrastructure projects, and I expect to see many transactions in these areas going forward.


Terance V. Walsh



Phone: 585-263-1777

Fax: 844-803-2270

Syracuse University College of Law, J.D.

Syracuse University, B.A., cum laude

New York

  • Named to the list of “Ones to Watch” by The Best Lawyers in America© for Public Finance Law in Rochester, NY, for 2022 and 2021
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