Corey Boock Quoted on MDOT I-75 Project's Success
Corey Boock, a Partner in Nossaman’s Infrastructure Group, was quoted extensively in IJGlobal’s case study of the Michigan Department of Transportation (MDOT) I-75 Modernization Project (Segment 3). Corey served as the lead commercial advisor to MDOT on the $828 million P3 project, which reached financial close in November of 2018. The project spans a 5.5 mile (8.9 km) stretch of highway serving the cities of Madison Heights, Royal Oak, Hazel Park, and Oakland County.
For the case study, Corey commented that to ensure the project proceeded on schedule, a dedicated group of MDOT staff and officials made decisions relatively quickly to allow the wider team to move forward. The project also had the support from former governor Rick Snyder who was leaving office at year end to make way for his successor.
Regarding the commercial and financial close of the project, Corey stated that he thought this was one of the smoothest closings of a P3 transaction that [he had] been a part of in recent history. Both the winning consortium and MDOT were very motivated and collaborative. The team involved on the deal was extremely lucky in that there was an orderly process with no requirement to renegotiate terms of the deal post-selection.
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