The New American Approach introduces added control for the Public Agency by allowing them to replace the members on the board of directors for the not-for-profit special purpose entity (SPE) that issues the bonds and owns the facility during construction and while the debt it active. This gives the public client the ability to gain administrative control of the project should they desire to do so.
This is especially useful in situations where the Public Agency is not pleased with the operations and maintenance of their Facility, or is concerned that the Not-for-Profit governing the project and staffing the SPE has become inefficient or lacks stability.
To read more on this, visit our New American Approach page or click the button below to read more about the four principles that guide all of our transactions.
