Today, Mr. Price is an independent consultant to the National Development Council ("NDC"), a nonprofit organization organized, among other purposes, to lessen the burdens of government.
PHILADELPHIA, PA, February 20, 2020 /24-7PressRelease/ -- Marquis Who's Who, the world's premier publisher of biographical profiles, is proud to present Robert S. Price, Esq., with the Albert Nelson Marquis Lifetime Achievement Award. An accomplished listee, Mr. Price celebrates many years' experience in his professional network, and has been noted for achievements, leadership qualities, and the credentials and successes he has accrued in his field. As in all Marquis Who's Who biographical volumes, individuals profiled are selected on the basis of current reference value. Factors such as position, noteworthy accomplishments, visibility, and prominence in a field are all taken into account during the selection process.
Mr. Price is a well known tax attorney in Philadelphia, who has specialized in the field of public finance for more than 40 years. He retired as a partner of, and later served as of counsel and as a consultant to, a law firm now known as Saul Ewing Arnstein & Lehr, a Philadelphia based law firm. It has more than a dozen offices across the east coast and the Midwest with approximately 400 attorneys. He had previously served as a partner at law firms then named Pepper Hamilton & Scheetz and Townsend Elliot & Munson. In the earliest part of his career as a tax attorney, he served as an in-house tax lawyer at Smith Kline & French, Penn Central Company and International Utilities.
Today, Mr. Price is an independent consultant to the National Development Council ("NDC"), a nonprofit organization organized, among other purposes, to lessen the burdens of government. For the last 40 years, Mr. Price has helped structure tax-exempt financing for NDC when it undertakes a project to lessen the burdens of a given governmental entity. Both NDC and he are particularly proud of a project they undertook for the City of Yonkers, NY. That project illustrates how tax-exempt bonds can best be used for public benefit.
Downtown Yonkers was blighted by an abandoned Otis elevator factory. NDC used tax-exempt bond financing to purchase the factory and convert the front half to the Yonkers Public Library, and the back half of to the School District as its Administration Building. Both were leased to Yonkers for 30 years. After 5 years, more than $300 million of private investment had been generated around the rejuvenated area formerly blighted by the abandoned factory. NDC then sold the increasingly valuable Library/Administration building to the City of Yonkers for $22 million more than it had cost DNC to redo, but the annual debt service on Yonkers' bonds sold to finance the purchase of the building, was the same as its rental to NDC had been. It cost nothing more for Yonkers to buy the building that it had cost it to lease the building. Then NDC gave its $22 million profit to the School District to finance after school activities. Mr. Price has declined to retire when he can work on structuring the financing to pay for projects benefiting the public like that at Yonkers.
In 1981 Mr. Price authored "The ABC's of Industrial Development Bonds". It went through 5 editions, with the name being changed on the last edition, to reflect changes in the Internal Revenue Code, to "The ABC's of Private Activity Bonds." The purpose of the book was to enable the public finance industry to maximize the usefulness of tax-exempt financing, for the public benefit. He also authored a number of articles to explain how tax-exempt bonds could be used for such purposes.
Mr. Price served his country in the U. S. Army during the Berlin Wall Crisis of 1961-2. He has long been a celebrated figure in the organization of his collegiate social fraternity, Alpha Delta Phi at both the local and national Level, having been President of the national organization and the alumni association of his Chapter. More importantly, he served for 27 years as President of the Samuel Eells Literary and Educational Foundation, the charitable foundation that carries out the literary and intellectual purposes of Samuel Eells, the pioneer who founded the Fraternity in 1832.
Mr. Price received a Bachelor of Arts degree from Kenyon College in 1958, followed by a Bachelor of Laws degree from Yale University in 1961. He is admitted to the practice of law in both Pennsylvania and New York, and has been admitted to practice in the U.S. District Court for the Eastern District of Pennsylvania and the U.S. Court of Appeals for the Third Circuit. He is a member of the Philadelphia Bar Association and the American Bar Association, and the National Association of Bond Lawyers. He is also a member of the Tax-Exempt Financing Committee of the Tax Section of the American Bar Association.
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