You and a business colleague are cordially invited to attend:
Central Philadelphia Development Corporation's
Monetizing Public Assets & P3 Transactions:
What Works, What Doesn't
Tuesday, September 11, 2012 - 4 PM
17th & Sansom Streets
While long-term leasing of public assets to finance other improvements, relieve debt obligations, or make capital improvements to existing infrastructure is normal in Europe and Australia, American experience is more limited. There have been significant successes with transactions with highways and parking garages, some highly publicized failures, and efforts that never launched.
Hear from two national practitioners who have directly handled transactions about do's and don'ts. Which assets make the most sense to monetize? How to structure the transaction both to achieve revenue objectives and protect the public interest? What are appropriate and inappropriate uses of proceeds? What are the lessons for the Philadelphia region?
Since January 2012, Levenson has served as Chief Financial Officer for Massachusetts Department of Transportation, where he also oversees their Real Estate and Asset Development initiatives. He is the former Managing Director and Head of Infrastructure Banking for The Royal Bank of Scotland and served previously as the City of Chicago's chief financial officer, where he was responsible for the long-term leases of both the Chicago Skyway for $1.83 billion in 2005 and the Chicago Downtown Parking System in 2006 for $563 million. He also led the effort to raise the city's bond ratings to their highest levels since 1978.
Tom Lanctot is a Partner of William Blair & Company, a Chicago based investment banking and asset management firm, where he leads the Infrastructure Investment Banking Group. He played an active role in innovative P3 financial advisory assignments and financing transactions for clients in the public, nonprofit and private sectors. He led the William Blair teams that were the catalysts and advisors for some of the most noteworthy P3 transactions in the United States, including the Chicago Transit Authority's Open Fare Collection System and the $563 million long term concession and lease of the Grant and Millennium Park underground garages.
Local Respondent: Joseph McLaughlin
Joe McLaughlin directs Temple University's Center on Regional Politics, which seeks to build consensus on major policy problems facing Southeastern Pennsylvania, including public pension burdens and infrastructure funding needs. McLaughlin has served as senior advisor to Governor Edward G. Rendell, the Pennsylvania House of Representatives, the National Governors Association, and Philadelphia Mayor William J. Green, III. As lobbyist, he represented the City of Philadelphia, SEPTA, the Philadelphia Industrial Development Corporation, and other clients on issues that included economic development, public finance, tax reform, public school reform, and capital funding for the port and mass transit.
CPDC members are welcome to extend an invitation to one colleague from their company/organization. When replying, please include the guest’s name and title for proper admittance.
Please stay for a reception, immediately following the meeting.
RSVP no later than Wednesday, September 5, to Carol Raffa, firstname.lastname@example.org or 215.440.5500.
We are grateful to Sofitel for their sponsorship of this meeting.