Harris Beach Murtha attorneys have considerable experience in appropriation-backed financings, having served as bond counsel, special tax counsel or underwriter’s counsel on hundreds of financing transactions involving billions of dollars.

We regularly assist with efforts to construct or reconstruct park facilities, construct and repair highways, construct parking facilities, fund new hospital construction, construct homeless housing, construct state and local correctional facilities, fund the construction and renovation of dormitory facilities, fund the acquisition of equipment and realty by various departments of state government and fund the construction of school facilities.

Law firms and underwriters across the country count on our proven analytical process and extensive securities law knowledge to relieve the burden of examining and preparing Blue Sky surveys.

Harris Beach Murtha has developed an efficient and cost-effective method of completing Blue Sky surveys for law firms and underwriters involved in municipal bond financings. With a broad focus on both federal and state law, we examine securities laws and regulations in all states and territories into which securities are proposed to be sold to the public, brokers, dealers and financial institutions. Because keeping up with changes to Blue Sky laws can be burdensome, and legal analysis complex, our preparation of Blue Sky surveys takes this task off attorneys’ plates.

We help prepare both preliminary and final Blue Sky surveys; advise on all jurisdictions, whether or not qualification is requested/required; monitor updates from the Blue Sky Law Reporter; and provide guidance on federal securities law and Blue Sky laws, including the National Securities Markets Improvement Act of 1996, to minimize state enforcement action.

Complex financial instruments such as derivative products, swaps and non-fixed rate debt are pivotal in risk management and financial strategies. Harris Beach Murtha attorneys have a great deal of experience assisting with these transactions, advising on complying with laws and regulations, mitigating risks and protecting client interests.

As both bond counsel and underwriter’s counsel, we provide advice on innovative financings and analyze progressive financing structures. These structures include fixed rate bonds synthetically divided into lower floaters and residual interest pieces; total return swaps; hedges and caps; and swaps and floating rate debt in advance refundings.

We synthetically restructure municipal bond transactions to achieve the right mix of short/long-term rate exposure for our clients. We rely on our keen understanding of the ISDA master agreements, schedules, confirmations and other standard industry agreements to make adjustments dictated by the unique circumstances of a transaction in a manner which remains acceptable to the market.

We also have experience with forward transactions, “Cinderella Bonds,” floating rate debt, taxable debt, and concurrent, multiple series of bonds with different structural characteristics.

Our attorneys are deeply knowledgeable about disclosure matters, having served in various capacities as special disclosure counsel, underwriter’s counsel and bond counsel on tax-exempt and taxable bond issues undertaken by state financing authorities, local governments and local development corporations.

The firm is on retainer to the New York State Division of the Budget (DOB) as Public Finance and Disclosure Counsel and provides advice to DOB on a wide range of state law and federal securities law issues, as well as general disclosure matters, including implementing and complying with the state’s annual secondary market disclosure obligations.

In addition, our attorneys have served as special disclosure counsel to underwriters in connection with general obligation bonds issued by the State of Connecticut and the State of Louisiana.

We regularly serve as bond counsel and underwriter’s counsel on financings for colleges, private not-for-profit schools, library systems and educational facilities for developmentally disabled children. These financings are often secured by the state, local school district or other third-party reimbursement revenue streams.

ESG considerations are increasingly driving public investment. Governments are setting sustainability goals and seeking not only a return on investment, but positive environmental and social outcomes. Green infrastructure projects and renewable energy initiatives are increasingly the norm.

Our attorneys support clients with cross-functional teams dedicated to integrating aspects of ESG into core business strategies, governance and risk-management. In addition to helping our clients understand, prepare for and comply with emerging regulations, we also help our clients realize the benefits created in the marketplace by ESG standards.

Meeting clean energy standards, decreasing reliance on fossil fuels and diversifying energy supply continue to drive demand for renewable energy in New York, Massachusetts, Connecticut and beyond. New York’s goal that 70% of all electricity generated in the state by 2030 be produced by renewable energy is one of the most ambitious clean energy agendas in the country.

Renewable energy projects represent significant financial investments by those developing the sites and the communities supporting the ventures. Harris Beach Murtha is a leader in representing and addressing the concerns of IDAs, municipalities and real estate developers with renewable energy ventures.

Our team has the breadth of experience to structure the financing support desired by private sector energy developers while also advancing the public sector’s energy-independence goals.  We assist both municipalities and developers in developing power purchase agreements.

Our attorneys counsel municipalities and other public sector entities with developing beneficial financial incentives, including property tax abatements, sales and use tax exemptions, and mortgage recording tax exemptions through the use of regional IDA incentives and state programs as well as assist with the development of Payment In Lieu Of Taxes (PILOT) agreements.

For private developers of transmission and renewable energy projects, we offer in-depth knowledge and creative approaches to optimize state and local incentive programs, as well as structuring private financing from investment groups and financial institutions. Our attorneys can also assist with corporate structuring and establishment of specific project entities, including tax equity structures.

As legalized gaming spreads across the country, our attorneys regularly work with both gaming borrowers and lenders to provide financing in the gaming field. We also work with Off-track Betting operators, Indian Nation operators and new casinos in the Northeast region.

Our public finance and economic development attorneys have been involved in financings for del Lago Resort and Casino; acquisitions and financing and state compact work for the Seneca Gaming Corporation; the tax-exempt bond financing and taxable financings for the Seneca Nation of Indians; Delaware North transactions and financings; Yonkers raceway transaction from initial VLT development through current ownership and financings; multiple casino structures and attempted financings in Sullivan County and the construction and current financing at Resorts World Catskill; the recently completed financing for Suffolk Regional OTB; and the recently completed tax-exempt borrowing by Western Regional OTB.

We have worked on a great number of health care facility financings in New York, Massachusetts, Connecticut and other states, from hospitals and nursing homes to a variety of senior living facilities, including lifecare and other continuing care retirement communities, independent living facilities, assisted living facilities and adult homes.

In addition, we represent a broad cross-section of health care providers on corporate, regulatory and tax matters.

Harris Beach Murtha is frequently called on to assist with single- and multi-family housing, tax credit and subsidy programs for low- and moderate-income residential retail projects. This includes financings through state agencies local housing authorities, industrial development agencies and local development corporations.

Our public finance and economic development attorneys utilize a variety of economic development tools to manage projects identified by our Industrial Development Agency (IDA) clients, including Brownfield Redevelopment Tax Credits, New Markets Tax Credits, economic development through condemnation, PILOT Increment and Tax Increment financings, HUD 108 Loans and Brownfields Economic Development Initiative (BEDI) Grants, and many other areas that are often overlooked or not fully understood. We also have significant experience in all types of IDA sale/leaseback transactions.

We handle all types of small issue manufacturing facility financings and exempt facility financings, including solid and hazardous waste disposal facilities, public dock and wharf facilities, airport facilities and sewage facilities. Harris Beach Murtha serves as agency counsel, developer counsel or transactional counsel in all types of economic development projects and has relationships throughout New York, Massachusetts, Connecticut and beyond.

Our work in the area of Public-Private Partnerships is extensive. Our attorneys have served on the boards of numerous government agencies, such as the Metropolitan Transportation Authority and New York Public Asset Fund, helping them develop a deep perspective on financing government projects. Our experience includes financing and related project work for some of the largest infrastructure and economic development projects in the Northeast over the past two decades.

We help structure complex strategies for financing, managing and completing large-scale development projects. We have experience with municipal and infrastructure project finance, public authority finance, stadium finance, economic development, housing finance, student housing, project development and finance, government relations and privatization and securitization of public assets.

Harris Beach Murtha attorneys counsel underwriters, borrowers, developers and trustees on tax-exempt and taxable bonds and disclosure issues in various areas, including economic development, housing, transportation, infrastructure, education, sports facilities, nonprofit organizations, PILOT bonding, special assessment bonding, loan securitization, solid waste, water and wastewater. We help develop innovative legal structures for state and local bond issuers and investment bankers.

Our work in this area includes public-private partnership structures, property acquisition and eminent domain, public procurement and contracting, government contracts, federal and state grants and loans, project management, regulatory compliance, environmental permitting and approval, lease structures with government entities, state and local taxation and tax incentives, intellectual property (IP), dispute avoidance and resolution and consolidation, restructuring and workouts.

Harris Beach Murtha attorneys possess deep knowledge and experience to assist clients in navigating the complex array tax hurdles in the public finance world.

The firm is routinely involved in the interpretation and resolution of arbitrage, rebate and use of proceeds issues, as well as in the development of regulations on those topics. We provide systematic review of proposed projects and due diligence to determine qualified amounts for sizing of bonds.

As bond counsel, we provide ongoing advice with respect to reimbursement issues (including reimbursement of a related entity), sizing short-term and long-term cash flow and working capital borrowings to minimize rebate liability, rebate exceptions and strategies, determining capital expenditures, and other means of maximizing earnings while minimizing rebate. The firm also represents clients on reissuance questions relating to forbearance agreements and transactions that modify terms of the bonds, and counsels issuers and borrowers in matters relating to swaps and their integration into the bonds.

We also represent clients on remedial action procedures for bonds, audits of tax-exempt bonds by the Internal Revenue Service (IRS), securing private letter rulings, and entering into closing agreements with the IRS under the Voluntary Closing Agreement Program (VCAP) program.

Harris Beach Murtha is involved in some of the biggest transportation projects in New York through its representation of the New York State Thruway Authority on its large transportation and Personal Income Tax (PIT) bond financings for its own facilities and those of the State Department of Transportation and Metropolitan Transportation Authority (MTA).

We counsel clients throughout New York, Massachusetts, Connecticut and beyond on all aspects of site acquisition and zoning and development approvals, as well as structuring financing packages. We work in partnership with our clients and often with a local issuer counsel operated by the IDA to balance their needs with the many constituencies affected by large development projects and work effectively with construction teams to conclude projects in a timely and cost-effective way.

Our attorneys serve as bond counsel on all types of general obligation financings, including long-term serial bonds, statutory installment bonds, short-term bonds, tax and revenue anticipation notes and budget notes.

We serve as bond counsel to municipalities and school districts on tax-exempt equipment lease financings, including financings of energy performance contracts. We also have extensive experience with Certificate of Participation financings.

We serve as bond counsel to local water and sewer authorities, and we handle revenue bond financings for these entities involving loans or agreements to both private and public entities. As bond counsel to municipalities throughout New York state we participate in revolving loan financings through the New York State Environmental Facilities Corporation.