Bracewell advises clients on state and local economic development tax incentives and tax abatement programs associated with large-scale capital investments across the United States, including professional sports arenas and multibillion-dollar manufacturing facilities.
These incentives — including tax abatements, value limitation agreements, PILOT agreements, economic development grants, non-annexation agreements, tax increment financing utility discounts, sales and use tax abatements, and other public-private partnership arrangements — can significantly influence where major projects are built and how they are structured.
Bracewell works with clients to:
- Identify state and local incentive programs available for proposed developments
- Prepare economic impact models supporting incentive requests
- Identify legal issues related to eligibility for and optimizing incentives
- Structure construction and procurement contracts to qualify for available exemptions and incentives
- Negotiate tax abatement, value limitation, PILOT and tax-increment financing agreements
- Secure grants, rebates and other economic development incentives
- Monitor, establish and report evidence of compliance with with incentive agreements
- Advise on agreement amendment opportunities to optimize incentives and ensure compliance
- Defend the validity and application of incentive agreements in litigation
By combining tax planning, project development and litigation experience, Bracewell helps clients secure and protect incentives that are often critical to the success of complex transactions and major capital projects.
