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Woodall Quoted in The Atlantic Cities
August 29, 2012

WoodallPaul O. Woodall, Jr., partner in the firm’s Business & Commercial Transactions Practice Group, was quoted in an article published on August 13, 2012, in the online publication, The Atlantic Cities. The article discussed the potential downside of municipal economic incentives in retail developments. Mr. Woodall recently assisted a local municipality in renegotiating an incentive structure with a large national retailer. Under the original structure the city was left vulnerable, in that it had issued approximately $24,000,000 in general obligation bonds. Mr. Woodall was able to restructure the debt issuance as "limited obligation" bonds, such that the city’s obligation on the bonds was limited solely to the sales tax revenues generated by that store. By eliminating the "general obligation" nature of the debt, the city’s exposure was essentially eliminated.