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Public-Private Partnership (P3) Finance Resource Center

A public-private partnership (P3) is generally speaking a contractual arrangement where a government agency contracts with a private partner to renovate, construct, operate, maintain, and/or manage a facility or system that provides a public service. The government agency may retain ownership of the public facility or system but the private party generally invests its own capital to design and develop the facility or system. Typically, each partner shares in income resulting from the partnership. Such a venture, although a contractual arrangement, can differ from typical service contracting in that the private sector partner may make a substantial cash, at-risk, equity investment in the project, and the public sector gains access to new revenue or service delivery capacity without having to pay the private-sector partner.

The underlying strength of the P3 model is that the private sector has sufficient P3 capacity (expertise and availability) to successfully deliver project objectives. When paired with the power of bond financing, this tool shows great promise for U.S. infrastructure, services and development. It should be noted that in most cases, there must be a legal statutory authority provided by the government to enter into P3 transactions. In relationship to bond financing, P3s are a natural fit as many projects can benefit from not only the private management structure but also from the access to affordable capital provided by the bond markets.

+Resources

+Case Studies

Public-Private Partnerships are a natural fit as many projects can benefit from not only the private management structure but also from the access to affordable capital. CDFA has collected hundreds of case study examples.

Crystal City BID
Tax Increment Financing, Special Assessment Districts, Management Districts and Public Improvement Districts have become powerful financing mechanisms to help communities concentrate development opportunities into targeted locations. Angela Fox with Crystal City BID discusses the project and how it was funded.
Infrastructure Finance in New York & New Jersey - KeyBanc Capital Markets
Just as infrastructure development acts as a catalyst for economic growth, it is also changing the landscape for potential investors and the expanding field of infrastructure finance. Infrastructure systems for transportation, utilities, and public works are essential for economic growth and have quickly developed into an emerging alternative asset class. Thomas Mulvihill of Keybanc Capital Markets looks at ways to leverage resources to finance infrastructure projects, as well as explore recent case studies in the region.
The Ark Project at JFK
JFK International Airport’s latest redevelopment project is a unique one: a $65 million, 178,000 square foot state of the art facility for pets. The Ark at JFK will offer pre-flight micro-chipping, kennels, an aviary, and more. This large-scale project employed a creative financing approach that required a number of years to execute. Mary King of New York City Regional Center, Alex Koppenheffer of Racebrook Capital Advisors, Jeffrey Lee of New York City Economic Development Corporation, and Brian Sampson of D'Agostino, Levine, Landesman & Lederman discuss the sources of capital and structuring techniques.
How P3's Support American Bioscience
This report, produced by the Biotechnology Innovation Organization, explores how bioscience innovations can be supported by legislation and job creation through the use of public private partnerships.
Longmont: Financing Brownfields Clean-Up and Build-Up
The cleanup and redevelopment of brownfield sites can advance a region's economy, restore local environment, and ultimately lead to permanent job creation and greater attraction of external capital to the community. During this session, the city of Longmont will feature best practices for financing brownfields redevelopment and what they are doing to make specific sites productive again.

+Headlines

+Training Courses

The Intro Public-Private Partnership (P3) Finance Course examines this emerging development finance model with a focus on how development finance agencies can adopt P3 principles to address a variety of projects. This course will cover basic P3 concepts, key players involved in transactions, asset valuation, contract negotiation, risk assessment, revenue stream development, and feasibility analysis. In addition, several P3 projects from across the country will be presented, and P3 experts will analyze the successful elements in each deal.

+Webcasts

CDFA // BNY Mellon Webcast Series: Financing the Nation’s Transportation Needs One Community at a Time
Federal, state, and local funding for transportation is woefully inadequate to cover the costs of maintenance and improvements needed. Although this subject is often discussed on a national level, it often remains a local issue for local communities to address. From bridges and roadways to water and energy, local communities are developing creative strategies to address their growing infrastructure needs.
CDFA // BNY Mellon Webcast Series: Opportunities and Advancements in Water Finance
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, learn from expert speakers Jordan Dorfman from the EPA, Tyler Old from PFM, John DeLuca from CoBank, and Jong Sook Nee from McManimon, Scotland & Baumann, LLC as they discuss developments in the water finance space and how different financing mechanisms like bonds, RLFs, P3s, and other tools are being used to address today’s water infrastructure projects.
CDFA // BNY Mellon Webcast Series: Post-Election Development Finance Landscape
This month’s CDFA // BNY Mellon Development Finance Webcast Series on the post-election development finance landscape featured Toby Rittner of CDFA, Eric Silva of North South Government Strategies, George Friedlander of George Friedlander Consulting, and David Terry of NASEO.
CDFA Brownfields Redevelopment Webinar: Financing Post Disaster Recovery
As part of the CDFA Brownfields Technical Assistance Program, this second installment of the Brownfields Financing Webinar Series focuses on disaster recovery assistance and highlights best practice examples, case studies, and brownfield redevelopment financing tools that will allow your community to be more resilient in the face of natural disasters.
CDFA // BNY Mellon Webcast Series: The State of P3 Financing
During this webcast, Todd Herberghs from NCPPP and Anita Molino from Bostonia Partners discussed the state of P3 financing, the market for P3, trends in states, and successful deals that have utilized P3 structures.

CDFA National Sponsors

  • Alaska Industrial Development and Export Authority
  • Baker Tilly Virchow Krause
  • Ballard Spahr LLP
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd, LLC
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • MB Financial Bank, NA
  • McCarter & English, LLP
  • McGuireWoods
  • Miles & Stockbridge P.C.
  • NW Financial Group, LLC
  • SB Friedman Development Advisors
  • Squire Patton Boggs
  • Stern Brothers & Co.
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Wilmington Trust
  • Z. The Bond Buyer
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