Public-private partnerships (P3s) are increasingly being used by state and local governments as a tool to finance infrastructure projects due to financial necessity. They have been predominantly used for highway projects in most jurisdictions, but can also be used for vertical infrastructure projects, like the $200 million civic center in Long Beach California and the recently approved $4 billion rebuild of the main terminal at New York’s LaGuardia Airport. P3s hold a good deal of promise for delivering large infrastructure projects – if they are done right.
After last month’s P3 Summit on Infrastructure & Public-Private Partnerships that the AIA cosponsored with Governing Magazine, the P3 Guide: Understanding the Risks & Rewards of Public-Private Partnerships is now available. The purpose of the guide is to help policymakers and practitioners understand what P3s are, how they work, and whether they are right for the community. The guide also focuses on P3 applications for areas such as storm water management, broadband, and public buildings.
Anne Law, Manager, Business and Practice Policy
For more about P3s:
Summit on Infrastructure & Public-Private Partnerships
Lawmakers Show Support for Vertical Infrastructure