New Jersey law firm expands public finance presence
Winne Banta Basralian & Kahn is bolstering its public finance practice with the addition of an attorney who helped shape the direction of the New Jersey Infrastructure Bank.
Frank Scangarella, who spent nearly 13 years as the New Jersey I-Bank’s assistant executive director and chief operating officer, has joined Winne Banta as an of counsel and is the firm’s fifth public finance attorney.
Scangarella arrived at the firm with more than 25 years of experience in complex financing mechanisms for real estate transactions, large infrastructure projects and environmental law. During his 13 years with the I-Bank, Scangarella structured financing programs involving the New Jersey Water Bank Construction Loan Program, the Statewide Assistance Loan Program following Superstorm Sandy, and the New Jersey Transportation Bank.
David Zimmer, executive director of the I-Bank, said Scangarella played an integral role improving the agency’s processes during the past decade. Since its inception in 1986, The I-Bank, which was formerly known as New Jersey Environmental Infrastructure Trust, has issued more than $7 billion in loans to fund roughly 1,400 projects impacting over 70% of the Garden State’s localities.
“Frank played a critical role in the evolution of this program during the last 10 years and as a whole,” Zimmer said. “Frank is all about making state government better for the individual stakeholder.”
Prior to his work at the I-Bank, Scangarella spent seven years as director of legal affairs for the New Jersey Water Supply Authority. He previously was assistant counsel to former Gov. Christine Todd Whitman and a deputy attorney general who provided legal counsel to the New Jersey Department of Environmental Protection.
Winne Banta’s public finance group is led by principal Jason P. Capizzi, whose extensive legal career has included stints as assistant counsel to New Jersey governors James E. McGreevey and Richard J. Codey. Capizzi also served as deputy attorney general to the regulator of municipal finance in New Jersey, the Local Finance Board and the Division of Local Government Services in the Department of Community Affairs. He was selected by The Bond Buyer in 2016 to receive as one of its Rising Stars in the Municipal Finance Industry and was installed as a member of the Fellows of the American Bar Foundation in 2017.
“As an architect of the I-Bank’s financing programs, Frank’s understanding of the complex legal and technical engineering requirements of each, coupled with his experience working with decision makers at all levels of government, is invaluable as it enables Winne Banta to offer a unique strategy when addressing the public finance needs of New Jersey’s local governmental units”, said Capizzi, who joined Winne Banta in 2018 as the firm began its initial public finance expansion. “I have worked with Frank for many years during his tenure at the I-Bank, and am excited that we will now be colleagues on the same team.”
Winne Banta was founded in 1922 and maintains its principal office in Hackensack. It also has satellite offices in Hoboken, New York City, and Boca Raton, Florida.