Educational Facilities



With deep and successful relationships with higher education institutions, we quickly recognize and address today’s unique legal issues that arise in the course of preparing and executing tax-exempt financings.

Our approach

Recent years have been challenging for educational institutions dealing with regulatory compliance and their debt structures.

We work with educational institutions to ensure their financings are structured to minimize debt service and transaction costs, while maximizing the financial benefits available. Our nationally recognized group of lawyers is experienced in tax-exempt and related financings. They understand all the options and make them work well for our educational clients.

Coupled with our extensive knowledge of private use activities and our capital campaign experience, our team provides a unified vision for university financing.

Who we work with

  • Universities
  • Private secondary and primary schools
  • Religious-affiliated institutions
  • State and community colleges
  • Underwriters
  • Lenders
  • Issuers and state bond agencies

Recent experience

  • City University of New York: We represented CUNY in connection with (i) the acquisition, development and financing of a commercial condominium unit in Long Island City for the relocation of its law school; and (ii) the development and financing of student housing facilities on the campuses of City College, Queens College, the College of Staten Island, and the CUNY’s Graduate Center Foundation. Our representation has included advice in structuring transactions; drafting and negotiation of conveyance documents; negotiation of condominium documents, including the bylaws and declaration; negotiation of design and construction documents; negotiation of development and management agreements; review and negotiation of financing documents; and tax advice.
  • Pace University: We represented Pace University in connection with the issuance by DASNY of its $116,475,000 Pace University Insured Revenue Bonds, Series 2005A and Series 2005B, the proceeds of which were used to finance the costs of construction of various capital improvements on the university’s Manhattan and Pleasantville campuses.
  • University of Rochester: We represent the University of Rochester on a major project involving the redevelopment of a large parcel of land along Mt. Hope Avenue, a main thoroughfare in the city that serves as a key gateway to the University of Rochester’s River Campus. The project calls for the development of approximately 500,000 square feet of mixed uses for the University’s “College Town” gateway, including retail, a book store, office, a multi-modal transit center and a hotel and conference center.
  • Franklin Pierce Law Center: Aided this school, New Hampshire’s only independent law school, in its merger with the University of New Hampshire—which will serve as a national model for others to follow as this trend evolves.
  • University Endowments: We have worked with several major university endowments from coast-to-coast on the restructuring of their relationships since the market downturn, successfully combining our extensive experience in charitable fund management and investment counseling.
  • Supercomputing Center: Our attorneys act as counsel to the five university consortium in the Boston area that is creating a supercomputing center for the benefit of all the institutions. The work includes not only governance and nonprofit corporate work, but also financing and new markets tax credit knowledge.
  • St. John Fisher College Campus Expansions: We advised St. John Fisher College on extensive campus expansions and in connection with bringing the Buffalo Bills training camp to its campus, which has become a successful annual community event.

Contacts

John G. Bove

Senior Counsel

jbove@nixonpeabody.com

Phone: 212-940-3180

Virginia Wong

Partner

vwong@nixonpeabody.com

Phone: 212-940-3028

Richard Jones

Partner
Practice Group Leader, Public Finance

rjones@nixonpeabody.com

Phone: 213-629-6070

William F. Weir

Partner

wweir@nixonpeabody.com

Phone: 585-263-1509

Daniel M. Deaton

Partner

ddeaton@nixonpeabody.com

Phone: 213-629-6050

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