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Innovations & Updates in Forestry Finance: Overview of Forest Reslience Bonds and the Qualified Opportunity Zone Program


Level: Advanced
Runtime: 91 minutes
Recorded Date: February 06, 2020
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Agenda


  • Environmental and Regulatory Aspects of the Forest Resilience Bond
  • Financial and Corporate Aspects of the Forest Resilience Bond
  • Qualified Opportunity Zones: An Opportunity for the Timberlands Business?
Runtime: 1 hour, 31 minutes
Recorded: February 6, 2020

Description

Join our experienced panel of practitioners as they detail innovations and advancements in forestry finance.

The discussion will focus on the corporate finance and regulatory/environmental considerations and challenges of Forest Resilience Bonds. Additionally, the viability of the Qualified Opportunity Zone Program with a forestry project will be considered. A strategy aiming to benefit both planet and profit, Forest Resilience Bonds enable private capital to finance forest restoration through a public-private partnership. Can a forestry-project qualify as a Qualified Opportunity Zone investment? What are the challenges and nuances facing this question?

This panel is made up of experienced legal practitioners from firms across the United States, who each lead and support ground-breaking innovations in the worlds of forestry law, corporate finance, and environmental regulation. Webinar attendees will receive 1.5 hours of General CLE credit and leave with a better understanding of the nuances and current status of the applicable laws and regulations affecting both types of projects.

This program was recorded on February 6th, 2020.

Provided By

American Bar Association

Panelists

Ryan Waterman

Shareholder
Brownstein Ryan Farber Schreck, LLP

Being mindful of the goal without getting lost in the details is a critical part of Ryan Waterman’s practice as an environmental attorney specializing in land use, water, storm water and hazardous substances. Ryan’s deep familiarity with the land use entitlement process and CEQA/NEPA environmental review are foundational to his practice representing complex pre-approval entitlement and post-approval litigation in the trial and appellate courts. Ryan also delivers strategic advice on California water permitting, regulations and compliance related to water sufficiency, water quality, storm water permitting, groundwater, infrastructure, renewable energy and policy development. Ryan regularly defends his clients against Clean Water Act citizen suits and State and Regional Board enforcement actions. Clients seek out Ryan for his expertise in the inextricably linked issues of land use and water within California.

Ryan also has a long-standing commitment to providing pro bono legal services and serves on the firm’s Pro Bono Committee.

Prior to joining Brownstein, Ryan was of counsel at Stoel Rives, LLP, and an associate at Latham & Watkins, LLP. From 2008 through 2012, Ryan co-taught an environmental law seminar as an adjunct professor at the University of San Diego School of Law. Prior to entering private practice, Ryan served as a law clerk to the Honorable Jeanne E. Scott, U.S. District Judge in the Central District of Illinois.

Perry Teicher

Partner
Orrick Herrington & Sutcliffe LLP

Perry Teicher, an attorney based in Orrick's New York office, serves on the leadership of Orrick's global Impact Finance & Investment group as the Impact Finance Attorney, advising impact-oriented clients globally.

Perry represents and advises entrepreneurs, fund sponsors, family offices, and tax exempt organizations across a wide range of transactions, including corporate legal matters, cross-border mergers and acquisitions, private fund formation matters and portfolio transactions, and private placements. Perry particularly advises clients that aim to integrate social, environmental, and financial outcomes. As Orrick's Impact Finance Attorney, Perry leads Orrick's Impact Finance & Investment practice, the first impact-oriented practice at a global law firm. Orrick's Impact Finance & Investment practices serves a global client base across a range of sector, leveraging Orrick's unique capabilities to provide innovative, effective, and thoughtful legal services to those clients aiming to create positive social and environmental change alongside targeted financial returns.

Perry served as a Peace Corps Volunteer in Kazakhstan, where he supported the development of businesses aiming to create mobility and opportunity for people with disabilities in the region. Perry is a Ariene de Rothschild Fellow and member of the ROI Community and Nexus. A native of the Detroit area and University of Michigan graduate, Perry remains committed to the Detroit area, supporting Detroit expat initiatives nationally.

Neil Golden

Partner
Orrick Herrington & Sutcliffe LLP

Neil has more than four decades of experience representing energy clients in complex equity and debt financings, project acquisitions and divestitures, and other significant corporate transactions. He has represented major project developers, equity investors and lenders in the independent energy industry, in the United States and internationally.

In recent years Neil has worked extensively on the development and financing of renewable energy projects involving wind, solar, biomass and fuel cells, and on alternative fuels projects in the ethanol industry. He has also worked extensively on the development and financing of conventional power generation facilities.

His corporate and financing experience has included representation of clients in syndicated bank financings, financings by multilateral and bilateral agencies, Rule 144A debt offerings, sale-leaseback financings, construction loans, formation of joint ventures and partnerships, equity investments, and the purchase and sale of equity interests in projects.

Internationally, Neil has represented sponsors of power projects and electric distribution companies in a number of countries including Brazil, Argentina, Jamaica, Honduras, Bangladesh, Nepal, Colombia, Turkey, the Dominican Republic and the People’s Republic of China.

Elisabeth L. Esposito

Associate
Brownstein Hyatt Farber Schreck, LLP

Combining a background working with and for government agencies, Liz Esposito leverages her diverse, hands-on natural resources experience to provide strategic counsel and advocacy at the junction of water and land use law.

On behalf of private and public clients, Liz assists in the acquisition, development, maintenance, and protection of water rights. When it comes to the far-reaching scope of the National Environmental Policy Act (NEPA) and California Environmental Quality Act (CEQA), Liz has a detailed eye for both analyzing large natural resources projects and developing tailored strategies for compliance with applicable laws and regulations. Liz also regularly assists in complex natural resources litigation, including at the appellate level.

Prior to re-joining Brownstein, Liz worked as an Attorney for the U.S. Department of Agriculture, Office of the General Counsel, advising the U.S. Forest Service on a variety of natural resources and land management issues arising under NEPA, the National Forest Management Act, the Endangered Species Act (ESA), and the Clean Water Act (CWA) and representing the agency before the U.S. Civilian Board of Contract Appeals. Liz further developed expertise in forestry and federal land management issues as a NEPA Planner for the U.S. Forest Service and as a legal intern for the U.S. Department of Justice, Environment and Natural Resources Division.

Daniel R. McKeithen

Partner
Eversheds Sutherland LLP

Danny McKeithen advises clients on federal tax planning and controversies, real estate structuring and transactions, partnerships, fund formations, and inbound and outbound direct investments. He counsels both public and private real estate investment trusts (REITs), including clients that use these structures in the timber and forest products industry.

In the corporate area, Danny structures taxable and tax-free mergers and acquisitions, liquidations, recapitalizations, and spin-offs and other distributions. His work has included innovative transactions using Up-C and UPREIT structures, installment sales and multi-party like-kind exchanges. His clients include large multinational corporations as well as closely held companies of all sizes, including several large S corporations. Danny provides counsel on the full range of corporate tax issues, including the detailed rules governing the carryover and use of net operating losses and other tax attributes, the special tax rules applicable in bankruptcy and out-of-court workout situations, and the complex issues that arise in transactions among affiliated and related parties.

Danny’s practice also includes obtaining private letter rulings from the IRS for clients on novel transactional issues, as well as representing clients throughout the audit process, at the IRS Appeals office, and in tax litigation matters.

Karen Reschly

Partner
Smith Lynch, LLC

Karen's practice involves transactional tax, general corporate, mergers and acquisitions, international transactions and private equity. As a member of the firm's ESOP transaction team, Karen employs her expertise to create tax-efficient reorganization and transaction structures which optimize post-closing company cash flow efficiency.

Karen also has over ten years of experience in the world of timberland investment. She has expertise in developing tax-efficient structured international investment funds and accounts and substantial experience representing domestic and foreign-based investment managers. In this regards, her clients have included TIMO's, governmental, tax-exempt and foreign institutional investors, family offices and alternative investment managers. 


Additionally, Karen has overseen the execution of dozens of transactions for the formation, acquisition, capitalization, disposition and liquidation of structured timberland investments in Central and South America, Central Europe and the Baltics, South Africa, and the U.S.


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