Hawkins is proud to be among the National Council for Public-Private Partnerships (NCPPP) 2019 outstanding legal advisor finalists. The NCPPP will announce the winners of the 2019 National Public-Private Partnership Awards later this year. For decades, the council annually recognizes commendable projects and visionary leaders in public-private partnerships.
During the past few years Hawkins has been involved in numerous projects, but its central role in the Howard County, MD Courthouse P3 Project, illustrates the value and the expertise Hawkins attorneys bring to a P3 project. This project to design, build, finance, operate and maintain a new circuit courthouse for the County for a thirty year term at an approximately $150 million capital cost is particularly noteworthy.
First, it represents just the second successful P3 courthouse procurement in the United States, the first successful P3 courthouse procurement on the east coast and the first successful P3 courthouse procurement in the United States in almost eight years. Second, this project utilized a groundbreaking hybrid P3 financing structure. Upon “Occupancy Readiness”, the Project Company will only finance approximately 60% of the project’s long term financing needs. The remaining 40% will be paid by the County through a single milestone payment to the Project Company. Third, this P3 was procured on a very efficient schedule of eleven months for the procurement to progress from the issuance of the request for qualifications to the selection of the winning proposer.
For more information on the awards and NCPPP: https://ncppp.org/2019-award-winners/
