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  1. Public Private PartnershipsWhat We Have Learned&What More We Need to Know

  2. Public Private Partnership • Any endeavor which marries private investment and public investment. • Private investment can vary anywhere from $1.00 to 100% of project costs. (“Simple” is not the same as “easy”) Reagan

  3. Trends that Require NewBusiness Models • Growing population, or at least, trip making • Continually increasing demand for added capacity and “Pay As You Go” can’t keep up, much less, catch up, with demand • Increasing maintenance costs • Age • Increasing lane miles • Heavier weights • Decline in revenues and lack of political will to increase them • Rising construction and right of way costs

  4. Public Private Partnership Goals • Optimize public funding • Maximize private investment • Combine the BEST of Public and Private Enterprise • Speed Implementation

  5. Benefits of PPP • Accelerates project through concurrent, rather than serial, activities • Fixes price early in design phase • Guarantees completion date • Designates single point of responsibility • Fairly allocates project risks among all parties • Provides life cycle cost efficiency • Provides for continuous Value Engineering assessments • Requires continuous constructability reviews • Streamlines project administration • Enhances cost control and risk management

  6. SuccessfulPPPImplementation • Entrepreneurial Vision • Organizational support – commitment to innovation • Institutional capacity to manage program • Risk management philosophy • Access to innovative, at least in transportation, finance mechanisms • Flexibility to respond to diverse proposals • Innovative procurement tools • Positive political climate 2

  7. State Law Traditionally Provides: • Competitive bidding statutes • Low bid requirements • Limited “sole source” authority • No negotiations • No design-build contract authority • Lack of revenue bonding authority • Constitutional restrictions on “gift of public funds” and investment in private companies • 100% surety bond requirements • Open records acts • Legislative or local govt. approvals

  8. State Laws Should Provide for: • Submission of competitive proposals • Solicited and Unsolicited • Appropriate evaluation factors • Opportunity for public comment • Authority for state grant or loan to project and contribution of federal funds • Clear and fair selection process • Avoidance of conflicts of interest • Competition stipends

  9. PPP Administration • Dedicated Staff • Small, effective, efficient, teamlike • Innovative and flexible • Co-located and EMPOWERED! • Specialized Support • Legal • Financial • Environmental

  10. WEBSITES • http://www.fhwa.dot.gov/ppp/index.htm • http://www.p3-americas.com/homepage.asp • http://ncppp.org/

  11. CATEGORIES • DB/DBO/DBOM • E-470 • Tx 130, segments 1-4 • I-15 • Hudson-Bergen Light Rail • Leases • Chicago Skyway • Indiana Toll Road • Pocahontas Parkway

  12. CATEGORIES • DBFO/DBFOM • Dulles Greenway • SR 125 • TTC 35 • Shadow/Pass Through Tolls/ Availability Payments • Miami Port Tunnel • Texas Counties • Mississippi HELP Program

  13. CATEGORIES • Hybrids • NM 44 • Heartland Corridor • CREATE • Las Vegas Monorail • Katy Freeway (Public/Public) • Use your imagination

  14. Just remember, every project is unique! The LONE RANGER is all out of silver bullets!!!

  15. Issues to discuss • Procurement • Contract Requirements • Toll Rates • Stewardship • Public Sector Oversight • Legal • Finance • Bi-national projects