Miller Canfield's public finance team provides bond and special counsel to public sector operators of commercial and general aviation airports in connection with billions of dollars in financing. We work with airports seeking to identify and develop new governance structures and new revenue streams for capital projects, as well as preparing legislation and authorizing documents with flexible terms to react to fast-changing market conditions and visions for state-of-the-art facilities.
We have broad expertise in general airport revenue bonds, including the first general airport revenue bond in excess of $1 billion in U.S. history. We also specialize in special facilities bonds and lines of credit, using various structures and types and levels of security.
Detroit Metro Airport McNamara Terminal and Hotel Project
Miller Canfield served as bond counsel to the Wayne County Airport Authority on the $1.2 billion financing of a new terminal and private airport hotel. The firm also served as legal counsel to the construction manager/builder of the Detroit Metro Airport. The firm has since represented the Authority on the many series of refinancing and restructuring of the terminal and hotel bonds, as well as every other new money and refunding bond issue of the Authority.
City of Chicago Midway Airport
Miller Canfield has served as securities disclosure counsel to the City of Chicago and as underwriters' counsel on financings in excess of $1.4 billion for debt refinancing and expansion of the City of Chicago Midway Airport.
Regional Airport Authority – Constitutional Law
When the Michigan Legislature transferred control of the state's largest airport from the County to a statutorily created airport authority, the county commissioners sued, raising a number of federal and state constitutional challenges. On appeal, the Court of Appeals agreed with us that the statute was valid on all grounds.
P3/Intergovernmental Agreements
Created legislation and intergovernmental agreements to establish the Detroit Region Aerotropolis Development Corporation (ADC), a public-private intergovernmental corporation created by Wayne County, Washtenaw County, the cities of Romulus, Taylor, Ypsilanti and Belleville, and Huron, Van Buren and Ypsilanti Charter Townships, and permitted five "Next Michigan" corporations such as the ADC to be established in Michigan.
Airport Finance and Construction
Represented construction manager in connection with the construction of Detroit Midfield Terminal airport project.