Private companies constructing warehouses, manufacturing facilities, industrial parks, and headquarters need to analyze financial incentives and methods for efficiently obtaining them. State and local economic development authorities need effective counsel in regard to issuing obligations, structuring tax incentive packages, and developing programs aiming to stimulate various types of economic development activity. Our attorneys provide unparalleled legal expertise to our economic development clients as bond counsel, developer’s counsel, investor’s counsel, and borrower’s counsel.

Our experience includes advising regarding locating, improving, and expanding office, residential, industrial, retail, and mixed-use projects through land-based infrastructure financing, including tax increment (TIF) financing, special tax district financing, payment-in-lieu-of-tax (PILOT) bonds, and other capital financing vehicles. Additionally, we have structured incentive packages such as tax subsidies, tax abatements, grants, lease-purchase agreements, and low-interest loans between private companies and governmental entities. We have assisted in implementing other economic development tools such as new markets tax credits and taxable bond financings.

As bond counsel and counsel to local governments, we have advised regarding structuring and negotiating tax incentive packages to induce companies to locate or maintain projects within a specific municipality in exchange for investment guarantees and/or job creation and maintenance commitments. We have also helped our governmental clients establish comprehensive recapture (clawback) policies with respect to the repayment of tax incentives upon borrowers’ failure to satisfy these commitments.

Moreover, the attorneys at Holley & Pearson-Farrer have represented developers, investors, and companies accessing capital for facility construction, expansion, improvement, and relocation projects. On behalf of these clients, we negotiated and structured incentives packages with state and local governments, developed systems to streamline post-closing annual compliance obligations for tax-incentivized projects, and advised companies regarding compliance with and renegotiation of governmental performance thresholds and avoidance of clawbacks.

In all capacities, we work, on behalf of the local government or company, with lenders and purchasers to coordinate all necessary transaction documentation to accomplish such financing and to ensure the documentation incorporates their terms and anticipates their concerns.

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