RE Public-Private Partnerships Pick Up, But Hurdles Remain
Law360, New York (August 13, 2014, 7:55 PM EDT) -- Municipalities are increasingly partnering with private companies for real estate projects, but despite ample private capital available, lawyers say cities and developers still face a host of challenges, including finding novel ways of structuring a deal, convincing the public of a project's merit and financing developer due diligence.
Cities looking to develop properties can, as property owners, issue bonds, but even after they do, many still lack adequate capital to develop the property. As a result, lawyers say, one popular strategy has been to lease the property to a private developer, which in turn develops it and hands the property back to...
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