March 26, 2014 1:30 – 3:30 p.m. ET
Understanding potential deals through the eyes of public officials, and knowing how to access the tools available, are key pre-requisites to meeting the self-interests of both the public and private sides in a development deal. This new ULI webinar will give you the understanding and competencies to engage productively in that conversation.
Revitalization projects to convert obsolete or underutilized land to more productive uses are often economically and physically complex. This complexity exposes the private developer to a significantly higher risk of financial loss during the entitlement and pre-development processes. This higher risk can make private developers increasingly reluctant to move forward with sites that involve community controversy, assembly, or reconfiguration. Over the past 15 years, public-private partnerships have emerged as an effective means for addressing these challenges while capturing critically important public benefits.
Nevertheless, opportunities for effective and productive public-private partnerships are frequently missed. As the competency for formulating public-private partnerships is still evolving, these deals can often be poorly structured and executed. Many public agencies still have a weak understanding of the private real estate process and its economics, resulting in unrealistic or constraint-driven deal-making. Similarly, the private sector frequently misses opportunities because it is unfamiliar with the tools, fails to understand the motives of a public agency, and is frustrated with what it considers a bewildering, time-consuming decision-making process.
This program will describe why public-private partnerships are so critical to successful development today by providing several case study examples illustrating different aspects of the practice. The webinar materials will include a download of background material and models that provide a perspective on how you can pursue opportunities for these transactions in the real world regardless of whether you approach these from the public or private sector perspective.
The webinar will also address the seven public private partnership tools and how to use them. These tools are:
- Lower entitlement risk and funding of pre-development
- Site access, cleanup, assembly, and reconfiguration:
- Public infrastructure and co-investment:
- Debt funding
- Equity and gap funding
- Developer selection and negotiations
- Creating a development entity
Charles A. Long is a developer specializing in mixed-use infill projects, including acquisition, entitlement, consulting and development. He has 37 years of diverse experience in local government and development with an emphasis on economic development, finance, management and public-private partnerships.
He served for eight years as city manager in Fairfield, California. Since 1996, he has worked as a consultant to public and private clients on development and management. He has held interim positions for several cities in finance, redevelopment and management, including Interim Town Manager of Mammoth Lakes and Interim City Manager of Pinole and Hercules, California. His assignments have been diverse including negotiating development agreements, writing redevelopment plans, pro-forma analyses, strategic planning, economic development, organizational development, capital and financial planning, budget reform, base reuse and alternative energy development. He has overseen over $600 million of public financing in his career.
His work on development is focused in California with an emphasis on public-private partnerships and mixed use infill.
Mr. Long is a full member of the Urban Land Institute and, within ULI, a member of the Public Private Partnership Council and a faculty member of the ULI Real Estate School, teaching both in the US and internationally. He has worked on seventeen ULI Advisory Panels, chairing panels in Salem, OR, Boise, ID, Dallas, TX, Buffalo, NY and Pasco County, FL. He received the 2012 Robert M. O’Donnell Award for distinguished service in the advisory program. He is co-chair of the Sustainability Committee for the San Francisco District Council and, in that capacity, initiated several reports including recommendations for streamlining California’s environmental review process and a directory of financing sources for building efficiency. He is also building a program called Real Estate 101 for Public Officials, training a volunteer faculty to teach public officials about how to do public private partnerships. He is the author of the book, Finance for Real Estate Development, published by ULI in April 2011 and winner of the 2012 National Association of Real Estate Editors Silver Award.
Mr. Long has a BA in economics from Brown University and a Masters of Public Policy from U. C. Berkeley. He served in the U.S. Army as an infantry platoon sergeant.
Govt. nonprofit member: $100
Govt. nonprofit nonmember: $135