Understand the features, nuances, complexities and risks of lease-leaseback projects.
Lease-Leaseback can be a very effective tool for project delivery and has been enjoying increasing popularity. It involves an owner leasing a site to a developer who, in turn, develops the project and leases it back to the owner. The developer can be paid over the course of construction and for a post-construction occupancy period, or the developer can fully finance the project until completion, with the lease payments commencing at project completion. Either way, owners are given flexibility to engage developers early in the project, before the plans and specifications are completed, resulting in more collaborative projects with less claims and delays. Unlike in design-build projects, owners will retain design responsibility. Done correctly, the projects can be quite successful. Done incorrectly, owners and developers can be exposed to significant risk, including in some states, disgorgement of all monies paid and liabilities for conflicts of interest.
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Agenda
History and Philosophy
Advantages
- Collaboration Early in the Project
- Faster Project Delivery at a Lower Price
- Reasonable and Reliable Budgets and Schedules
- Fewer Change Orders and Claims
- Third-Party Financing of the Project If Needed
Restrictions and Concerns
- Legal Authority to Use It and Legal Restrictions
- Contracting Authority
- Regulatory Approvals and Restrictions
- Conflicts of Interest
- Disguised Construction Contracts
- Third-Party Financing Might Be Required
- Even With Collaboration, Owner Still Bears the Risk of Design
- Skilled Labor Requirements
- Practical Considerations for the Project
- Restrictions on Competition
- Getting Qualified Lease-Leaseback Providers
- Getting a Fair Price
- Cost of Financing
Summary Lease-Leaseback Agreements
- Site Lease
- Facilities Lease
- Setting the Lease Term
- Setting and Structuring the Lease Payments
- Construction Related Documents: Balancing Typical Construction Documents Against
Avoiding a Disguised Construction Contract
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on February 28, 2020.
Call 1-866-352-9540 for further credit information.
- CA MCLE 1.5
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Eileen M. Diepenbrock, Esq.
Diepenbrock Elkin Dauer Stephens McCandless LLP
- Partner in the Business and Construction Law/Litigation group at Diepenbrock Elkin Dauer Stephens McCandless LLP
- More than 30 years of experience in the construction and real estate development industry, with a heavy focus on public works construction
- Received the highest rating with Martindale-Hubbell Law Directory
- Fellow in the American College of Construction Lawyers; Listed in Forbes in 2008 as one of The 10 Most Dependable™ Litigation Attorneys of California; Recognized every year beginning in 2011 as among the Northern California SuperLawyers, and in 2015 and 2019 recognized as among the top 50 women in the Northern California SuperLawyers; consistently named among the Best of the Bar by the Sacramento Business Journal
- Practice involves drafting all manner of construction documents from design-bid-build to design-build to lease-leaseback; challenging and defending the award of public works contracts; counseling, negotiating and litigating construction claims; and assisting legislators as the industry expert on legislation of importance to the construction industry
- Member of the American Bar Association construction mediator and arbitrator panel
- Frequent speaker and author on construction and public works topics, including writing and editing chapters for ABA publications
- J.D. degree, with great distinction, Order of the Coif, University of the Pacific, McGeorge School of Law; B.S. degree in English literature, University of Santa Clara
- Can be contacted at 916-492-5024 or [email protected]
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