Jacob S. Falk
Norton Rose Fulbright US LLP
Jacob S. FalkvCard
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Jake Falk represents clients in the development and financing of infrastructure projects in the United States and abroad. His practice focuses on structuring and negotiating concession, development and financing arrangements for new projects and the refinancing or acquisition of existing facilities.
Jake served in the Office of the US Secretary of Transportation as the Director of the Office of Infrastructure Finance & Innovation where he advised on matters related to transportation financing, including public-private partnerships. At the US Department of Transportation (USDOT) Jake was involved in the development and administration of innovative credit assistance and grant programs, such as the TIFIA, PABs, and TIGER programs.
JD, Fordham University School of Law, 2002
BA, cum laude, Yeshiva University, 1999
- District of Columbia Bar
- New York State Bar
- Representation of AustralianSuper, CPPIB and UniSuper in connection with an aggregate equity investment of approximately $2.1 billion in Transurban Chesapeake, which comprises Transurban's Greater Washington area operational assets, including the 495 Express Lanes, 95 Express Lanes and 395 Express Lanes, as well as three projects in delivery and development - the Fredericksburg Extension, 495 Express Lanes Northern Extension and the Commonwealth of Virginia's commitments under the Capital Beltway Accord.
- Representation of the construction joint venture for a shortlisted bidding team in connection with the procurement by the Georgia Department of Transportation (GDOT) of a major express lanes project on an approximately 16-mile stretch of SR 400 in Atlanta, Georgia between I-285 and McFarland Parkway.
- Representation of QIC and Ullico in connection with the acquisition from Brookfield of Enwave's US district energy business, which delivers heating and cooling capacity and provides commercial and residential energy infrastructure services.
- Representation of Hannon Armstrong in connection with its $115 million preferred equity investment in the $1.165 billion University of Iowa (UI) Utility System P3, a long-term lease and concession of the University's utility system which was awarded to a concessionaire formed by Meridiam and ENGIE.
- Representation of the purchaser of a district energy asset in a downtown commercial and office district in the United States.
- Representation of a consortium in connection the procurement to operate, maintain and improve Syracuse University's steam station which provides heating for most of the main campus buildings and other customers.
- Represented a potential bidder in connection with the procurement for the Gilcrease Expressway build-finance project in Oklahoma.
- Representation of KeyBank in connection with the construction financing of a government services facility in the City of San Marcos, Texas, under development by the Hunt Companies and Flintco.
- Representation of IDB Invest, IFC, OPIC, KfW‐ IPEX and Finnvera on the financing of the US$850 million Energía del Pacífico gas‐fired power plant and LNG import terminal project in Acajutla, El Salvador. The project is the biggest energy infrastructure investment in El Salvador's history.
- Representation of IFC and other multilateral and commercial lenders on the financing of the US$1 billion Costa Norte LNG import terminal and associated 381MW power plant in Panama under development by AES. The project is the largest combined-cycle facility and first ever LNG terminal in the country.
- Represented National Westminster Bank in the construction and back-levered term loan financing of a 125 MW portfolio of seven PV solar projects in the United States. The portfolio was sponsored by Lightsource bp and received tax equity investment from Guardian Life Insurance Company of America.
- Representation of KeyBank National Association in connection with financing of the new Travis County Civil and Family Courts Facility, a $335 million project in Austin, Texas.
- Representation of Macquarie Infrastructure Corporation in connection with the procurement of a P3 for the Westchester County Airport, for which Macquarie was recently named the preferred proposer.
- Representation of Globalvia on the purchase of the concession for the Pocahontas Parkway in Virginia and related financing.
- Representation of a potential bidder in the procurement for the lease and concession regarding the utility system for The Ohio State University.
- Representation of Transurban in connection with the procurement for the I-66 managed lanes P3 in Virginia.
- Representation of Flatiron Constructors and Dragados USA in connection with TxDOT's procurement for the US 181 Harbor Bridge Replacement Project and related closing.
- Representation of Isolux Infrastructure Netherlands B.V. in connection with the concession to design, build, finance, operate and maintain the I-69 Section 5 Project in Indiana and related private activity bond financing.
- Representation of a company in connection with equity investments in natural gas-fired power plants in the United States.
- Representation of a lender in connection with the financing of a ground-mounted solar farm in New York State.
- Representation of a bidder in connection with Indiana's procurement for its portion of the Illiana Corridor Project.
- Representation of a lender in connection with the refinancing of the PR-22/PR-5 toll road concession in Puerto Rico.
- Served as Director of the Office of Infrastructure Finance & Innovation and advised the USDOT on:
- The expansion of the TIFIA (Transportation Infrastructure Finance and Innovation Act) program for FYs 2013 and 2014, which will provide up to $17 billion of financing for such years.
- Management of the PABs (Private Activity Bonds) program which allocates $15 billion in tax-exempt financing authority for eligible surface transportation projects and freight transfer facilities.
- The utilization of Federal credit assistance programs, including TIFIA, PABs and RRIF (Railroad Rehabilitation and Improvement Financing).
- Management of the $3.6 billion TIGER Discretionary Grant Program, a unique portfolio of performance-based USDOT investments in highway, transit, rail, and port projects.
- Implementation of the PPP provisions in the 2012 surface transportation reauthorization bill known as MAP-21, including the development of best practices and model PPP contracts.
- Proposals for reauthorization of the federal government's surface transportation programs and proposals for the development of a National Infrastructure Bank.
- Implementation of discretionary grant programs managed by USDOT, such as the High Speed and Intercity Passenger Rail Program and the New Starts Transit Capital Program.
- Representation of a company formed by Brisa and CCR in connection with the concession to operate and maintain the Northwest Parkway Toll Road in Colorado and related financings. This deal was honored as "North American Transport Deal of the Year" for 2007 by Project Finance magazine.
- Representation of a consortium bidding for the concession to develop, design, construct, finance, operate and maintain the Port of Miami Tunnel Project.
- Preparation of a report and analysis for a consortium of companies regarding the U.S. toll road industry.
- Representation of an international geothermal energy developer on an initial public offering and listing on the NY Stock Exchange, and on a $165 million refinancing of power projects through issuance of senior secured notes under Rule 144A and Regulation S.
- Representation of a bank on the financing of a portfolio of landfill gas-to-energy projects.
- Representation of multilateral and government-sponsored lenders on project financings.
- Chambers USA, USA - Nationwide: Projects - PPP, Chambers and Partners, 2021
- Publishes periodically the "US P3 Projects Pipeline"
- "A Report On The Expanding U.S. P3 Market," December 2014
- "The US Government Moves to Encourage More P3s," Project Finance NewsWire, September 2014
- "PPP Update: US Infrastructure Legislation," Project Finance Newswire, April 2014
- "P3 Update: TIFIA Program Developments (Special Update)," Client Alert, August 5, 2013
- "More Tolls on Interstate Highways?," Project Finance NewsWire, November 2006
- "Toll Road Update - State Developments and Private Activity Bonds," Project Finance NewsWire, March 2006
- "Toll Road Update; Indiana Toll Road; Two Texas Projects; Texas CDAs; Private Activity Bonds;," Project Finance Newswire, March 2006
- "Toll Road Update - Looking Ahead to 2006," Project Finance NewsWire, January 2006
- Co-author"Toll Road Update - NAFTA Traffic," Project Finance NewsWire, October 2005
- "Toll Road Update - State PPP Projects," [Reprinted in Project Finance magazine, October 1, 2005, as "Mix and Match"], Project Finance NewsWire, August 2005
- "Toll Road Update - New Legislation," [Portion reprinted in EuroWatch, June 15, 2005, as "Toll Roads in the EU"], Project Finance NewsWire, June 2005
- "Toll Road Update - US Federal and State Initiatives," Project Finance NewsWire, April 2005
- Co-author, "Private Involvement in U.S. Roads," Project Finance International, September 2004
- Jake participates in a variety of conferences and industry events, and as Director of the Office of Infrastructure Finance & Innovation Jake regularly represented DOT as a speaker or presenter, and in meetings with stakeholders, including Congress, state and local governments, and the private sector.