Doug is one of the leaders of the firm's on-going infrastructure and public-private partnership initiative and serves on the firm's opinion committee. He regularly represents borrowers, developers, underwriters, investors and lenders in a range of tax-advantaged structures using tax-exempt bonds and leases, state and federal tax credits, federal qualified opportunity zones and commercial debt. He has handled transactional matters in more than 45 states.
He has extensive experience handling financing for economic development, solid waste, renewable energy (including solar, wind, hydro, biomass and biogas), resource recovery, energy efficiency, transportation and social infrastructure projects. As part of this experience, he has completed financings using production and investment tax credits, new-markets tax credits, historic rehabilitation and other federal and state incentives, including federal qualified opportunity zone benefits.
Many of these representations have involved unrated, nonrecourse project financings that require equity capital investment, creating public-private partnerships as well as special purpose governmental, corporate and non-profit entities, drafting special legislation to support the projects and the financings, acquiring assets and other entities and businesses to complete the transactions and contesting bid protests and other legal challenges. As such, they also require negotiation of the agreements to secure the land, revenue, financing and capital for these projects, the monetization of the environmental attributes and other incentives and resolution and settlement of legal disputes.
He represents and negotiates with all types of transaction participants, e.g., local, state and federal governmental issuers and sponsors, banks and financial institutions, lenders and lessors, equity investors, credit enhancers, rating agencies, nonprofit and for profit borrowers, lessees and guarantors, contractors, accountants, and technical and feasibility consultants. As a result, he regularly teams with his partners in tax, energy, real estate, corporate and litigation and his colleagues in McGuireWoods Consulting to bring a true team approach on behalf of clients to solve their needs and accomplish their goals.
From 1993 to 2001, Doug served his country in the Virginia Army National Guard, reaching the highest rank of Captain.
Served as bond, special tax, underwriter’s, developer’s, purchaser’s and investor’s counsel on tax-exempt and taxable municipal and commercial transactions, including non-recourse and limited recourse project transactions, involving the generation of electricity, direct use transportation fuel, industrial fuel and pipeline injection, sourced from landfill gas, waste water gas, food waste, source separated waste, animal waste, recycled products and other feedstocks including in California, Texas, Michigan, Kentucky, Missouri, Virginia, Maryland, North Carolina, South Carolina, Georgia, Mississippi and Florida.
Served as bond, borrower's, lender’s, underwriter's and special tax counsel on a variety of private activity and exempt facility bond issuances, including manufacturing, water supply, disaster area, recovery zone facility, recovery zone enterprise and gulf opportunity zone bonds, from 2000 through 2016, exceeding $2.0 billion.
Served as bond and corporate counsel for a tax-exempt solid waste bond borrower on a national basis with one billion or more in outstanding fixed and variable rate debt in 35 states to finance and refinance landfill, transfer station and hauling facilities, assets and equipment.
Represented leverage lenders, lenders, governmental sponsors, borrowers, QALICBs and other participants on federal new markets tax credit transactions in Virginia, Tennessee, Florida, Maryland, Kentucky, Georgia and Texas and state new markets transactions, where applicable. These transactions have supported charitable, community, medical, manufacturing, retail, commercial, and charter school and secondary education facilities for governmental, non-profit and corporate entities as real estate, construction and working capital operating financings, using “portions of business” approaches, as needed, and many of these transactions have been combined with other sources of capital, including federally tax-exempt debt plus state and federal historic and energy tax credits, where such existing incentives or capital arrangements have been recapitalized or restructured to accommodate the introduction of new capital.
Represented sponsors, borrowers, investors, contractors and feedstock providers in the negotiation and drafting of joint venture agreements, public-private partnership arrangements, energy efficiency agreements, energy service performance contracts, power purchase agreements, gas transportation, marketing and fuel dispensing arrangements, site leases, hauling and transfer agreements, landfill gas sale and purchase agreements and animal waste supply agreements for solar, wind, geothermal, landfill gas and poultry swine and dairy gas projects, facilities and operations.
Represented various state and local issuers, aviation companies and underwriters on the construction and long term financing of roads, tollroads, airport facilities, various utilities and other social infrastructure, including arenas.
Represented developers, borrowers and sponsors on transactions using investment and production tax credits for solar, wind and biomass projects in Georgia, North Carolina, Washington, Oregon and Texas.
Served as bond, lender's and borrower’s counsel on more than 100 separate issuances of clean and new clean renewable energy, qualified school construction, qualified energy conservation and qualified zone academy bonds in more than 20 states, including direct pay subsidy bonds and tax credit bonds. These transactions have involved financing landfill gas, hydroelectric, solar, wind, biomass, energy efficiency, renewable natural gas, fuel conservation and compressed natural gas engine conversion projects and facilities for public utilities, including energy governmental entities. Several of these transactions required the establishment of new enterprises and revenue streams to secure the financings.
Represented underwriters, lenders, developers, localities, and local and regional authorities on governmental transactions, including special assessment, tax increment financings and property assessed clean energy (PACE) financings.
Represented the sponsor in forming a qualified opportunity zone fund to support a medical office building in South Carolina.
Represented issuers and borrowers on bond validation proceedings and in taxable state and local tax incentive and economic development transactions.
Represented parties on numerous state and federal regulatory efforts, including IRS bond audits and SEC compliance matters.
Represented various concerns on local, state and federal legislative activities to support various financing activities.
Vice Chairman, Finance and Development Advisory Board, The Coalition for Renewable Natural Gas (RNG Coalition)
Board Member, Council of Development Finance Agencies, 2012-2020
Member, Editorial Advisory Board, Project Finance, Law360, 2018
Member, Virginia State Bar
Member, Virginia Bar Association
Member, West Virginia State Bar
Member, National Association of Bond Lawyers
Member, Local Government Attorneys of Virginia
Selected for inclusion in The Best Lawyers in America, Banking and Finance Law, Project Finance Law, 2020, 2021; Energy Law, 2021, Woodward/White, Inc.
McGuireWoods Featured in Bloomberg Law Article on Firms Helping Clients With Opportunity Zones
May 31, 2019
Real Estate Info Provider Co-Star Profiles McGuireWoods Opportunity Zone Team
May 2, 2019
The Advent of Opportunity Zones
March 22, 2019
Brad Alexander and Doug Lamb Discuss Opportunity Zone Program, P3 Deals in Law360
January 17, 2019