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The Array of Options for Being a Lawyer

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Who did you meet with today?

Today I met with Mera Baker Ramos, a Real Estate lawyer at PCSD, and Sarah Kollman who is also a Real Estate lawyer, working with Young, Minney, & Corr (YMC).

Where do they work? What does the company do?

Sarah Kollman is a Real Estate Lawyer who works at Young, Minney, & Corr law firm, which supports charter schools. Mera Baker Ramos is also a Real Estate Lawyer and an in-house counsel for Pacific Charter School Development (PCSD).

What did you learn today? What were some highlights?

Today I met with two Real Estate Lawyers and I learned some interesting things about their professions and how they are similar and different. Ms. Kollman, who works with YMC, has a different agenda and clientele than Ms. Ramos. Ms. Kollman is an external lawyer who has many clients; working as a Transactional Lawyer. However, in Ms. Ramos’s case, she only works for PCSD, as an in-house counsel.

What insights did you gain into the field of real estate development?

I gained an understanding of how being an in-house lawyer and an external lawyer work: how they manage their time and how they get paid. An external lawyer has it more difficult because their agenda has to be filled with work to get paid through billable hours , which complicates their daily life. Corporate lawyers have it easier compared to external lawyers as they don’t have to put in as much overtime.

What did you find the most interesting about the field after today?

I found it interesting that there could be lawyers for everything and anything, ranging from Art Lawyers to Court Lawyers.

PCSD Interns: Navigating Charter School Finance: Insights from a Day with Brian Holman at MusickPeeler

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In today’s rapidly evolving world, the digital age and the pandemic have caused significant shifts in the work environment across industries. In the realm of charter schools, understanding their financing options is crucial to their growth and success. Recently, we had the opportunity to meet with Brian Holman, a partner at MusickPeeler LLP, specializing in charter school finance. Our day was packed with insightful experiences, from exploring the changing landscape of MusickPeeler’s offices to diving deep into a Charter School Finance 101 presentation. In this blog post, we will share our key takeaways and what we learned about putting together a successful charter school facility finance structure.

The Changing Work Environment

We kicked off our day with a tour of MusickPeeler LLP’s offices in downtown Los Angeles. Amidst the digital age and the pandemic, we observed the impact on their workspace. Numerous bookshelves stood nearly empty, a testament to how much information has migrated online. Nevertheless, the library still held a collection of valuable reference books, specifically focusing on various court cases.

Charter School Finance 101

Returning to PCSD’s offices, Brian Holman commenced his presentation on Charter School Finance 101. He began by discussing the different financing sources available to charter schools, ranging from donations to hard money loans. As nonprofits, charter schools have access to various types of donations, including contributions from individual donors and both private and public grants. We delved into an overview of financing sources like New Market Tax Credits, bond financings, bank and institutional loans, as well as federal and other government loans.

Building a Charter School Facility Finance Structure

One of the most valuable aspects of our day with Brian was gaining a clear understanding of the process of building a charter school facility finance structure. Through visual aids and insightful explanations, we were able to grasp the complexities involved. Brian concluded the presentation with some indispensable facility financing tips, emphasizing the importance of keeping one’s legal matters in order, involving legal counsel early in the process, thoroughly reading all agreements, and staying vigilant to avoid legal pitfalls.

Real-Life Example: A Charter School Facility Financing Deal

After lunch during which we learned more about Brian’s background and his journey into the legal field, we delved into an illustrative example of a charter school facility financing deal. We reviewed term sheets, loan agreements, and various loan documents, gaining valuable insights into how different parties collaborate throughout the process. It was fascinating to see how a charter school financing deal typically unfolds over 3-5 months, requiring careful attention to detail and collaboration among various stakeholders.

Understanding Corporate Organizations

To round out our enlightening day, we explored the different types of corporate organizations. Sole proprietorship, partnerships, corporations, limited liability companies (LLCs), and nonprofits all offer distinct advantages and disadvantages. Understanding these options can play a vital role in shaping a business’ structure.

Our day with Brian Holman at MusickPeeler LLP provided us with invaluable insights into charter school finance. Understanding the various financing sources available to charter schools and the process of building a successful charter school facility finance structure is essential for their growth and sustainability. We extend our sincere gratitude to Brian for sharing his expertise and making this day an enlightening and enriching experience.