Ground Lease Negotiations in Public-Private Developments (Update)
1h 3m
Created on October 27, 2022
Intermediate
Overview
Many public-private development projects are structured through the use of a ground lease. Given the competing objectives of the parties and the long-term nature of the relationship, ground lease negotiations are typically complex, and while negotiations may be lengthy, the parties can find great value through careful consideration of key ground lease provisions. For the public sector, a ground lease provides a mechanism to structure its involvement in both the project's development and operational phases, the means to ensure that particular public interest objectives are achieved, and the opportunity to realize the longer-term economic value in the property once improved. For the private sector, a ground lease allows for the opportunity to develop a project without carrying a significant upfront acquisition cost for the land, a means to access tax benefits in connection with the project, and a structure that can adjust over time as the project enters different stages of its development and operations.
This course, presented by Patrick O'Sullivan, Partner at Herrick, Feinstein LLP, reviews the use of ground leases in the public-private development context and highlights how the negotiation of its key provisions can facilitate the successful development of such projects.
Learning Objectives:
Identify the key terms to be negotiated in a ground lease involving a public-private development
Discuss what the key challenges are in negotiating each of these terms
Understand the objectives of the public sector and private sector in negotiating ground lease terms
Review the ways that parties can craft provisions to align their interests and optimally allocate risks in these transactions
Faculty
Reviews
Recent Reviews
Interesting topics dealing with both the public and private sectors.
Good material
as CEO for a public entity, I appreciated the overview and materials for entering such agreements.
Gain access to this course, and unlimited access to 2000+ courses, with a Plus subscription.
Explore Lawline Subscriptions