More Water P3s to Follow Rialto, Calif., Deal – Lawyer
Nossaman Partner Corey Boock was quoted in the InfraAmericas article "More Water P3s to Follow Rialto, Calif., Deal – Lawyer" regarding the financial close of a 30-year water and wastewater concession in Rialto, Calif. The article notes that Mr. Boock served as legal advisor to Veolia Water West Operating Services in the deal.
Mr. Boock is quoted as saying that more of these transactions could be soon to come. "The US hasn't seen many water and wastewater P3s," he said. "There haven't been many, in comparison to transportation P3s."
Mr. Boock explained that the TIFIA loan program, which has helped launch major transportation projects, including some as P3s, is one explanation for the growth of transportation P3s. He stated that with a pressing need to update aging water infrastructure, cities in California and across the US are having a difficult time finding the money through traditional funding sources, such as money generated through existing sewer and water rates or through the tax-exempt bond market.