Douglas "Doug" Gillette, chair of Day Pitney's Municipal Finance practice group, has advised issuers, underwriters, banks, trustees, borrowers and other entities in state and municipal financing transactions throughout New England since 1981. He has handled financings by the State of Connecticut; numerous towns, cities, and other special-purpose authorities and entities; and Indian tribal governments.
Doug has extensive experience analyzing and addressing the tax-related concerns that arise in governmental financings. He develops documentation and systems to ensure that issuers comply with the requirements under arbitrage, private activity and other limitations imposed by the Internal Revenue Code on tax-exempt financings.
In addition, Doug has counseled Connecticut municipalities on non-financing matters, ranging from election law and Freedom of Information Act compliance to the development and establishment of investment guidelines. He has also advised charter establishment or revision commissions in several Connecticut towns. Doug is actively involved in preparing legislation to meet the needs of Connecticut municipalities, often on a pro bono basis, in cooperation with the State of Connecticut Office of Policy and Management, the State Treasurer's Office, and the Government Finance Officers Association of Connecticut.
Doug's work in the area of governmental finance led to his appointment by the governor of Connecticut to the state's Municipal Finance Advisory Commission, where he has served since 1989. In 2005, Doug was appointed by the Connecticut state treasurer and the secretary of the Office of Policy and Management to serve on the Municipal POB/OPEB Working Group, which was charged to report on and draft legislation to address issues regarding the funding and financing of municipal pension and other post-employment benefits. In 2007, Doug was appointed by the governor of Connecticut to the Property Tax Cap Commission established by the State Legislature. On a pro bono basis, Doug also served, from spring 2008 to fall 2009, in the statutory position of municipal finance expert on a regional school district study committee.
Doug speaks and writes often on issues important to municipalities and other taxing authorities. He has authored articles that have been published by the Connecticut Law Tribune and Law360.
Served as bond counsel to municipality in connection with private developer redevelopment project involved in rehabilitating and improving vacant buildings located near the municipal center to provide market-rate condominium units
Served as bond counsel to several Connecticut municipalities establishing open space and development right acquisition financing programs
Served as bond counsel to Indian tribal council in various taxable and tax-exempt financings of infrastructure and governmental facilities projects
Served as bond counsel to a Connecticut regional health district in connection with a below-market-rate 40-year financing from the U.S. Department of Agriculture to purchase and renovate office space, including drafting necessary enabling legislation to permit Connecticut's regional health districts to borrow money secured by a pledge of assets
Served as local counsel to consultant advising regional business council in analyzing and making recommendations regarding financial operations and management issues with respect to local board of education
Counseled municipal charter revision commission, including advice regarding restructuring of annual budget procedure
Advised a special tax district with respect to creation and revision of bylaws, amendment of special-act charter, and resolution of apparent conflicts with provisions of general statutes
Drafted legislation permitting Connecticut municipalities to issue pension deficit funding bonds to fund all or a portion of unfunded past benefit obligations, including review of other statutes governing municipalities to reconcile any conflicts and to determine the need for clarifications
Drafted an extensive revision of the laws pertaining to municipal investments and deposits to reflect interstate banking concerns and concerns regarding fluctuating value investments
Advised developer of mixed-use residential/commercial/office project regarding municipal financing options, including municipal special services district, in a public/private partnership
State of Connecticut Municipal Finance Advisory Commission, Commissioner/Secretary
Connecticut Bar Foundation, Fellow