Roderick N. Devlin

/My focus

I assist private and public sector parties in developing, financing, consummating, operating, and maintaining significant infrastructure projects domestically and overseas, with a particular focus on public-private partnerships.

On the private side, I represent project sponsors, lenders, underwriters, and construction companies in their P3 and project development efforts in a wide range of sectors. No two projects are the same, and no two sectors are the same. With this in mind, I ensure that my team includes the sector and subject matter experts required to provide my clients with optimal outcomes.

I have also assisted a number of public entities in coming to the market with their first P3 projects. Public-private partnerships raise myriad complicated issues for the public sector owner. I assist my public sector clients in assessing and properly allocating the key project risks among project participants in a manner that serves the goals of the owner and the needs of public users.

Global Scope

I have been involved in P3 transactions across the United States, the Caribbean, South America and Europe. These projects have involved roadways, airports, bridges, ports, water projects and entertainment assets. For example, I advised the bond issuer in connection with the multi-source financing of the $4 billion LaGuardia Airport Central Terminal P3 project in New York City, procured by the Port Authority of New York and New Jersey. The $2.6 billion of bonds issued for this project is the largest bond issuance to date for a US P3 project.

/Representative experience

Transportation/transit

• Representing Rhode Island Public Transit Authority (RIPTA) on its Design Build Finance Operate Maintain (DBFOM) P3 procurement for a new mixed-use Transit-Oriented Development (TOD) in Providence (including a bus transit center and possible housing and commercial offices/retail). 
• Acting for joint venture equity member in connection with a proposed autonomous vehicle transit system (and related tunnel) connecting to Ontario International Airport, being procured by San Bernardino County Transportation Authority in California (under a preliminary development agreement).
• Acted as Lenders’ counsel to the winning proposer on the Georgia Department of Transportation (GDOT) I-285/I-20 West Interchange DBF P3.
• Acting for owner/developer in connection with a proposed Transit-Oriented Development (TOD) RRIF Loan to finance a rail station adjacent project in New Jersey (including arrangements with transit authority).
• Acting for member of winning team selected to plan, design, construct, and operate a Personal Rapid Transit (PRT) Pilot Project connecting the airport skytrain at Georgia International Convention Center and the Gateway Center Arena in Atlanta, Georgia.
• Acted for underwriter in the $2.55 billion bond financing for the John F. Kennedy (JFK) Airport New Terminal One redevelopment and expansion, the proceeds of which were used to finance and refinance a portion of the costs of constructing the initial phase of the project.
• Representing market leading autonomous vehicle technology team member selected by East Contra Costa County (ECCC) in California to develop a Dynamic Personal Microtransit (DPMT) P3 Project (a complex multi-stop urban transit project using autonomous vehicles). The project originated from an unsolicited proposal by our client.
• Representing market leading autonomous vehicle technology company in connection with a proposed San Jose Airport Connector P3 Project in California (under a pre-development agreement) connecting an International Airport to the downtown area. 
• Acted as lenders’ counsel to shortlisted proposer on the US Virgin Islands’ Henry E. Rohlsen and Cyril E. King Airports Terminal P3 Project procured by Virgin Islands Port Authority's (VIPA) to modernize and expand passenger terminals at two airports. Subsequently acted as bond counsel to winning proposer team. 
• Acted as bond counsel on the refinancing of existing bonds issued by the Virginia Small Business Authority for the Elizabeth River Crossing DBFOM P3 Project in Virginia. 
• Acted as lenders’ Counsel in connection with the refinancing of existing debt for the Colorado Department of Transportation (CDOT) / High Performance Transportation Enterprise (HPTE) I-70 East Project in Colorado, including refinancing of TIFIA Loan. Also acted as lenders to a shortlisted bidding team on original CDOT/HPTE procurement. 
• Lenders’ counsel to a shortlisted bidder on Georgia Department of Transportation (GDOT) I-285/I-20 East Interchange DBF P3.
• Acting for the owners in the sale of the Connecticut Roadside Service Areas P3 Concession.
• Advising bidding team on the I-75 Modernization P3 Project regarding bifurcated not-for-profit/governmental entity tax exempt financing structure.
• Advising shortlisted bidder on Honolulu Rail Transit P3 Project regarding not-for-profit/governmental entity tax exempt financing structure.
• Representing the lenders to a shortlisted bidding team in connection with I-70 East Project in Colorado being procured by the Colorado Department of Transportation (CDOT) and the High Performance Transportation Enterprise (HPTE).
• Acting as lenders counsel to shortlisted bidding team on the Transform 66 (Outside the Beltway I-66) P3 greenfield project in Virginia being procured by the Virginia Department of Transportation (VDOT).
• Represented the lenders to a shortlisted bidding team in connection with the I-285 & SR 400 Reconstruction DBF Project in Georgia.
• Advised Georgia Department of Transportation in connection with its $833.7 million Northwest Corridor P3 project in Atlanta, Georgia, including drafting of procurement documentation and underlining P3 agreement and overseeing procurement process.
• Advising equity team in connection with the successful proposal for the I-4 Ultimate Managed Lanes P3 project in Florida, a $2.3 billion availability payment project.
• Advised Georgia Department of Transportation (GDOT) in connection with its proposed Atlanta Multi Modal Passenger Terminal (MMPT) project in downtown Atlanta (to provide connections between commuter rail, high speed rail, regional commuter bus lines, and train services).
• Represented a major monoline insurer in connection with the $1.07 billion multi-source financing of Autopista Central Toll Road, an electronically tolled urban toll road project in Santiago, Chile, and the first toll road in Chile to be financed by dual US and Chilean offerings; the project was awarded Euromoney Magazine’s award as “Best Project Finance Deal” in Latin America.
• Represented a monoline insurance company in connection with the $440 million multi-source financing of Americo Vespucio Norte Toll Road, an electronically tolled urban toll road concession in Santiago, Chile; the transaction was the recipient of Latin Finance Magazine’s “Best Project Finance Deal” award.
• P3 counsel to institutional lenders in the financing of the Camino Columbia P3 toll road in Texas.
• Represented a major monoline insurance company in the $750 million financing of the Santiago-Talca Toll Road in Chile; this project was recognized as a “Deal of the Year” by Project Finance Magazine.
• Represented a major monoline insurance company in the financing of both the Chillán-Collipulli Toll Road and the Collipulli-Temuco Toll Road in Chile; the latter was given a “Deal of the Year” award by Project Finance Magazine.

Infrastructure

• Acting for owner/developer in connection with a proposed Proton Therapy Facility and other Medical Office/Laboratory/Life Sciences Facilities for a major university in California. 
• Represented the lenders to a shortlisted bidding team on the Miami-Dade Courthouse Project procurement.
• Representing the winning bidder in City of Nashville Parking Concession P3 procurement.
• Advising the Puerto Rico Aqueduct and Sewer Authority (PRASA) on financing their comprehensive water meter system replacement P3.
• Representing private sector consortium in connection with a civil build P3 being undertaken with the City of Los Angeles.
• Representing the City of Phoenix on their P3 projects at Sky Harbor International Airport in all aspects of their procurement process.
• Advising bond issuer in connection with the multi-source financing of the $4 billion LaGuardia Airport Central Terminal P3 project in New York City, procured by the Port Authority of New York and New Jersey; the $2.6 billion of bonds issued for this project is the largest bond issuance to date for a US P3 project.
• Representing Westchester County in all aspects of their P3 procurement with respect to its airport.
• Acting as P3 counsel to shortlisted bidding consortium on the Southport Marine Terminal Complex P3 project in Pennsylvania being procured by the Philadelphia Regional Port Authority.
• Acting for lenders in connection with a proposal to Pennsylvania’s Northampton County for its bridge rehabilitation and replacement P3 project.
• Representing the Miami-Dade Water and Sewer Department in Florida as P3 counsel in connection with the initial feasibility analysis for the South Miami Heights Water Treatment Plant P3.
• Representing design/build team in connection with proposal for the Knik Arm Bridge P3 in Alaska.
• Acting as P3 counsel to a bidding consortium in connection with the Goethals Bridge P3 Project in New York, procured by the Port Authority of New York and New Jersey.
• Acting as P3 counsel to one of the shortlisted bidding teams in connection with the Presidio Parkway Project in California procured by the California Department of Transportation (Caltrans), one of the first US projects to use the availability payment structure.
• Represented project sponsor in connection with a proposed EuroVegas Casino Project and entertainment complex near Budapest, Hungary; the project was being developed pursuant to a governmental concession agreement.
• Advised the Schiphol-controlled JFK International Air Terminal LLC in connection with the financing, management, and operation of the new Terminal 4 facility at John F. Kennedy International Airport in New York City; this was one of the first airport P3 projects undertaken in the US.
• Represented Aeroflot, the operator of Terminal 3 at Sheremetyevo Airport in Moscow, in connection with the proposed financing and construction of a new international terminal at the airport.
• P3 counsel to the private consortium selected to undertake the establishment, construction, and operation of a proposed new airport for the Chicago metropolitan area on a public-private partnership basis.

/Looking ahead

There is wide recognition that US infrastructure—from roads, bridges, and airports to water systems, schools, and civic buildings—requires significant new investment, both to maintain existing assets at an acceptable level and to add necessary additional assets.

I believe that public-private partnerships will be an important part of the solution. Although not right for every project, a properly structured public-private partnership can tap the technical know-how and efficiencies of the private sectors, as well as private sector financing, while allowing the public owner to continue its traditional role of ensuring that infrastructure assets are properly operated and maintained to meet the needs of the public users.

/Insights

• Presenter, “AIAI P3Direct Bootcamp: Risk Allocation,” Transportation Infrastructure Summit, June 26, 2024
• Moderator, “Roadways and Bridges—To Toll or Not to Toll Panel,” IPFA in-person briefing, June 18, 2024
• Moderator, “What's a Key Ingredient for P3 Success? Picking the Right Advisors and Partners,” The P3 Government Conference, Alexandria, VA, December 6, 2023
• Panelist, “How do I Design a P3? Best Practices in Deal Structuring and Contract Management,” P3 Airport Summit, San Diego, CA, May 8, 2023
• Panelist, “Critical Factors for Moving a P3 Forward,” AIAI Public-Private Partnership Conference & Expo, Dallas, TX, March 7, 2023
• Panelist, “P3s: Asset Recycling in US: Obstacles and Opportunities,” The Bond Buyer 2022 Infrastructure Conference, November 15, 2022
• "Today’s infrastructure: Asset recycling – the what, whys, and hows," The Bond Buyer Podcast, November 15, 2022
• Panelist, “Why Do an Airport P3? Building the Business Case for a P3 and Selling It to the Community,” The P3 Airport Summit, August 11, 2022
• Author, “Infrastructure as a Policy Tool,” PFI Special Report Global Infrastructure, June 28, 2022
• Panelist, “How Do I Keep a P3? Monitoring and Partnership for the Long Term,” the Public-Private Partnership Conference & Expo, March 15, 2022
• Speaker, “P3Direct Bootcamp: Operations & Maintenance”, AIAI P3 Government Conference, Arlington, VA, December 8, 2021
• Speaker, “How do I Deliver a Project with the P3 Model?”, AIAI P3 Government Conference, Arlington, VA, December 7, 2021
• Speaker, “How Do I Deliver a Project with the P3 Model?”, AIAI P3 Conference & Expo, Dallas, TX, September 13, 2021
• Panelist, “What Do You Need to Consider When Looking at a P3,” The P3 Water Summit, April 22, 2021
• Panelist, “Making Sense of the Biden Infrastructure Plan”, ABA Connect Webinar, Virtual, April 19, 2021
• “Critical Factors to Keep Your Project Procurement on Track,” 2020 P3 Airport Summit, Webinar, September 25, 2020
• “Private Investment for the Public Benefit,” The Convention, Sports & Entertainment Facilities Conference, Webinar, August 12, 2020
• “Best Practices in Risk Allocation and Surety,” Public-Private Partnership Conference & Expo, Dallas, TX, March 2020
• “New Trends in P3s—Smaller P3s and More Complicated P3s,” Bond Buyer Transportation Finance/P3 Conference, Denver, CO, November 2019
• “Best Practices in Deal Structuring & Contract Management,” 2019 Public Private Partnership Airport Summit, San Diego, CA, July 2019
• “Best Practices in Risk Allocation and Surety,” 2019 Public Private Partnership Airport Summit, San Diego, CA, July 2019
• Speaker, “US Airport P3s – Ready for Take-off?”, International Project Finance Association, New York City, NY, October 23, 2018
• Speaker, “Project Pairing: Extending the Boundaries of Campus Infrastructure Projects”, AIAI P3 High Education Summit, San Diego, CA, September 12, 2018