OverviewPublic Private Partnerships (P3)
September 30, 2014
What is P3?
PUBLIC-PRIVATE PARTNERSHIPS (P3)
A business relationship between a government agency and a private-sector company for the purpose of completing a project that will serve the public.
Public-private partnerships can be used to finance, build and operate projects such as public transportation, parks, and educational facilities.
Infrastructure / Social Infrastructure
PUBLIC-PRIVATE PARTNERSHIPS (P3)
InfrastructureTraditional P3 projects have centered on infrastructure projects (bridges, toll roads, utility plants).
Social InfrastructureWithin recent years, P3 projects are now also centered on social infrastructure (libraries, public safety facilities, educational facilities and civic centers).
Brief History of Project
BRIEF HISTORY
Initial City / School District Joint Meeting
January 2013
Meetings with Ad-Hoc Committee Members (City and District )
February – September 2013
County Library Prepared Facility Program
September – December 2013
City Initiated City Hall Facility Program
August 2014
Tax-Exempt LeasePublic agency finances public facilities by borrowing funds.
Asset is transferred to public agency either at beginning or end of lease term.
Portion of lease payment used to pay interest is tax-exempt.
P3 Financing TypesSource: National Council for Public-Private Partnerships
Developer FinancePrivate party finances the construction of public facility in exchange for opportunity to develop residential and/or commercial uses at the site.
P3 Financing TypesSource: National Council for Public-Private Partnerships
Examples of P3 Development
TRANSPORTATION PROJECTSInfrastructure and operations of public roads and highways.
PARKS Private maintenance and operations agreements for federal, state, and local parks.
EDUCATION FACILITIESLeveraging private real estate for public schools.
INFORMATION TECHNOLOGYHigh speed internet infrastructure/access for America’s cities.
UNIVERSITY EDUCATIONAL AND HOUSING PROJECTSDormitories, laboratories, athletic facilities, dining establishments, and conferencing.
P3 Examples
Vista Civic Center Civic Center and Community Room
Downtown Mixed Use Housing and RetailOffice Building for San Diego Housing CommissionCondominium Building with Subterranean Parking
San Marcos Civic CenterMixed-use City Hall, Library, Office, and Retail
New Middle School and High SchoolFairfax County Public School District in Partnership with Clark Education, Virginia
New High School and Town Center (City Hall, City Library, and Aquatic Center) Natomas Unified School District in Partnership with North Natomas Town Center, Sacramento, California
New Elementary School and Market Rate HousingWashington DC Public Schools in Partnership with the District of Columbia
Source: Keyser Marston
OverviewPublic Private Partnerships (P3)
ReferenceNational Council for Public Private Partnerships
http://www.ncppp.org/