|Roger Hershey spoke at the recent Symposium on Public-Private Partnerships sponsored by the Park University School of Business. The event took place November 4, 2009 in the downtown Kansas City Public Library. Hershey participated in a panel on the New Realities of Public-Private Financing. His presentation focused on Park University's recently constructed $18,000,000 Copley Quad Residence Hall Project, with particular emphasis on the public-private partnerships between Park University and the City of Parkville, Missouri.|
Mr. Hershey pointed out that the project was designed, financed and constructed on an accelerated basis that would not have been possible with the unique multiple relationships between the University and Parkville. Tax exempt bonds were issued in September 2007 by the then newly created Industrial Development Authority of Parkville, Missouri that had been was formed by the City at the University's request. The bonds were privately placed by UMB Bank, N.A., with whom the University has long had a banking relationship. Had the project proceeded on a normal time-line the bonds would have come to market a year later in September 2008 at the beginning of the current recession. Had that occurred the project would probably still not be built. Instead, students took up residence the year before the melt-down. The hall is 100% occupied again this school year.
Mr. Hershey is Vice President & General Counsel of Park University, and is 'Of Counsel' to the King Hershey Law Firm. He was formerly president of the firm, and his practice includes planning, zoning, real estate development, nonprofit organizations and higher education.