Ray Cornelius joined Adams and Reese in 2003 and is the Team Leader of the firm's Public Finance team. His role has greatly expanded the firm’s presence in public finance and developed a strategic direction for economic development representation.
Ray focuses his practice primarily on the representation of private companies, state and local government entities and their respective departments, agencies and instrumentalities in the negotiation of economic incentives and public/private partnerships to promote business, industrial and commercial economic development.
His representation has included the State of Louisiana in the recruitment of some of the largest commercial, business and industrial projects, drafting legislation underlying the State’s economic development incentives programs, and assisting agencies of state and local governments in the formulation of regulations and policies relating to tax incentives and financing alternatives for new industry. His successful endeavors, include among others, the modernization of Louisiana tax increment finance laws and the Louisiana Supreme Court validation of the tax increment laws in the Gonzales (Cabela’s) case.
His other significant contributions include:
Extensive experience in the roles of bond counsel, underwriters counsel and disclosure counsel in taxable and tax-exempt bond financings, including state, parish and municipal obligations, Gulf Opportunity Zone (Go-Zone) bonds, private activity bonds and revenue obligations of state and local public entities.
Representing traditional public finance and a variety of special project financings, including docks and wharves, pollution control facilities, hospitals, facilities for non-profit organizations, lease-purchase transactions, recreational facilities, solid waste disposal facilities, manufacturing facilities and diverse facilities pursued by public bodies to promote economic development.
Facilitating project financings and letter of credit transactions as part of the Banking and Finance team. He also assists domestic and foreign entities in the establishment of locations in the United States.
Maintaining a strong network of elected officials and public bodies to support the firm’s Governmental Relations team.
Mentoring young lawyers in economic development, banking and finance law and public finance.
As part of maintaining his network, Ray serves as Vice Chairman of the Louisiana Industrial Development Executives Association (LIDEA), a nonprofit Louisiana corporation that promotes the economic health and vitality of Louisiana by encouraging companies to locate in Louisiana and to assist resident industries to expand.
Ray is a frequent lecturer and author on topics related to economic development, taxable and tax-exempt financing alternatives for private industry, and structuring of public/private partnerships, in addition to other topics. He also has participated in drafting and preparing public finance legislation for numerous purposes on a federal and state level.
In his free time, Ray enjoys sporting events and fishing.
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