Economic development projects require extensive experience in a broad range of practices, including project finance, mergers and acquisitions, municipal finance, acquisition finance, tax, real estate, governmental affairs and regulatory oversight. The firm’s economic development practice is distinguished by its balanced representation of public and private owners and operators, sponsors, developers, investment and commercial banks, institutional lenders, and government entities in matters concerning economic development, including tax incentives, industrial revenue bonds and Local Economic Development Act grants. We have been involved in sophisticated and unique projects that require a broad range of legal skills and practices, ranging from traditional municipal and project financing to the structuring of public-private partnership entities and the sale or lease of existing infrastructure assets. Our public finance, public law, real estate, tax and construction expertise combine for an ideal team to call upon for economic development projects of any size.
- We developed the template ordinances and project participation agreements that the Economic Development Department uses statewide for municipalities that do not have local expertise.
- We represented the private entity that received the first City of Albuquerque LEDA grant, and navigated the issues related to combining the use of an industrial revenue bond with City and County LEDA grants. We represent lenders in lending to projects that are the subject of industrial revenue bonds and LEDA grants.
- We served as special counsel to the New Mexico Finance Authority and the Economic Development Department in the implementation of the Statewide Economic Development Financing Act, and we have various disclosure counsel relationships with the NMFA. Our Firm had primary responsibility in representing the State Board of Finance and the Department of Finance and Administration in the drafting and adoption of the NMFA’s enabling legislation.
- We represented the New Mexico Spaceport Authority in the development and construction of the world’s first purpose-built commercial spaceport. Our work included assessment of programming and related studies, negotiation and preparation of the architect’s contract, the development agreement and lease agreement and negotiation of agreements with local utilities.
- We represented a multinational corporation in the development of a $200 million project that layered industrial revenue bonds, Local Economic Development Act funds, new markets tax credits, job training incentive program financing, and conventional financing. We also represented that corporation in matters related to the design and construction of the manufacturing facility and negotiations with utilities.
- We serve as bond counsel on a variety of projects spurring economic activity in the state and region. For example, we served as bond counsel to St. John’s College and as borrower’s counsel to El Castillo Retirement Residences for IRBs issued by the City of Santa Fe; to Schott Solar Inc. in the issuance of industrial revenue bonds for its manufacturing facility in the Mesa del Sol area of Albuquerque; to Gerald Champion Regional Medical Center for industrial revenue bonds issued by the City of Alamogordo and the New Mexico Hospital Equipment Loan Council; to SUMCO Phoenix Corporation in a City of Albuquerque industrial revenue bond for equipment at its existing facility; and to Andaluz Hotel in Albuquerque for renovations at that hotel.
- We served as issuer’s counsel to Torrance, Sierra and Luna Counties for industrial revenue bonds for wind energy facilities and to Silver City for industrial revenue bonds for a solar facility.
- Our lawyers coordinated National Environmental Policy Act and National Historic Preservation Act (Section 106) review processes for a $250 million public-private joint venture that spanned a mix of state and private land and crossed the El Camino Real National Historic Trail.
- We represented the developer of an 1,100-home master-planned residential community. Specifically, lawyers negotiated the purchase of the real estate, negotiated and prepared purchase agreements with the homebuilders, prepared covenants, conditions and restrictions applicable to the subdivision, and provided advice with regard to the City of Albuquerque’s financial guaranty requirements.
- We coordinated representation of the lead lender in a $60 million real estate secured transaction. The transaction was financed using a combination of a multi-participant construction and mini-perm loan, a financial contribution from the Fortune 500 Company tenant, industrial revenue bonds, and state appropriations funded through New Mexico’s Local Economic Development Act. Specifically, our work included preparation and negotiation of participation agreements and loan documents; review of the build-to-suit lease and industrial revenue bond lease; negotiation of SNDAs; preparation and negotiation of loan documents; review of the title commitment and exception documents, surveys, phase I environmental assessments, and zoning and entitlement information.