Public Finance and Development

Public Private Partnerships

More than 30 development and finance professionals met at One Kansas City Place on a cool late June morning to discuss a subject that rarely ever gets discussed beyond the superficial: namely, the extraordinary emergence of public-private partnerships in development projects, large and small. This assembly was an ongoing part of the Industry Outlook series created by Ingram's Magazine. Co-sponsoring the event were George K. Baum & Co., an investment banking firm, and the law firm of Polsinelli Shalton Welte Suelthaus (PSWS). Co-chairing were John Petersen of PSWS and Roger Edgar of George K. Baum.

What followed was a spirited, often provocative assessment of how public- private partnerships have morphed from anomaly to imperative over the last generation without anyone much noticing, and what the consequences of this transformation are for an area like greater Kansas City.

Illusion vs. Reality

As an introductory question, participants were asked whether there was, in fact, more public financing of otherwise private projects than there had been in the past or if that was simply an illusion.

"Certainly we do see more," offered Jack Dillingham of Piper Jaffray. He attributed the increase to the growing recognition that most of the easy places to build have already been built on and that site development costs in long developed areas cannot feasibly be built without financial assistance. Although he believed the evidence to be largely "anecdotal," Rick Smalley of Bank Midwest affirmed the surge in public involvement.

"Can anyone think of a major project without public involvement?" asked Randy Nay of Bank Midwest. "I can't think of one." "If you're talking about coming out of the ground," agreed Gary Sage of the Kansas City Economic Development Corporation, "I can't think of one either."

Participants Include:
(Left Top to Bottom)

Herb Kohn
Bryan Cave
Michelle Sweeney
Ingram’s Magazine
Larry Winn
Polsinelli Shalton Welte Suelthaus (Sponsor)
Rick Smalley
Bank Midwest
Tom Rohling
First National Bank
Jack Dillingham
Piper Jaffray
Cal Glasco
Great Southern Bank
Jack Waters
Gold Bank
Dan Stepp
Gold Capital Management
Jim Griffith
LaSalle National Bank
Tom Turner
Collateral Mortgage
Jack Holland
Oppenheimer & Co.
Wanda Gunter
Finance Dept., City of Kansas City, MO
Gary Sage
Economic Development Corp. of KCMO
Jon Baum
George K. Baum (Sponsor)
Peter deSilva
UMB Bank
John Petersen
Polsinelli Shalton Welte Suelthaus (Chair/Sponsor)
John Hense
Christenberry Collet & Co.
Steve Weatherford
Kansas Development Finance Authority
Doug Stone
Polsinelli Shalton Welte Suelthaus (Sponsor)
Steve Lynn
Commerce Bank
Bill Moore
King Hershey
Roger Edgar
George K. Baum (Chair/Sponsor)
Dan Carter
Policy Solutions
Tom Moriarty
Stern Brothers
Randy Nay
Bank Midwest
Joe Close
Country Club Bank