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

Understanding Public Private-Partnership (P3) Financing
Public-Private Partnership (P3) Financing Case Studies
Policies & Procedures
Structures

+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.

Public-Private Partnerships in the US Members only

This report, produced by PricewaterhouseCoopers, examines the state of the P3 market at the end of 2016. The report examines the amount of investment needed to improve and repair American infrastructure as well as innovative financing models that can make these improvements a reality.

Strengthening Access to Capital Programs Members only

Vincent DiCara, Owner of DiCara Training and Consulting, LLC, discusses access to capital and the benefits of leveraging public sector support for even greater private sector investment and explore a variety of programs available in the region.

Strengthening Access to Capital Programs Members only

James Key-Wallace, Executive Director at New Hampshire Business Finance Authority, discusses access to capital and the benefits of leveraging public sector support for even greater private sector investment and explore a variety of programs available in the region.

The State of Public-Private Partnerships and Infrastructure in Illinois Members only

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. As budgets are stretched and new rules are created, it can be difficult to pull together funding for necessary infrastructure improvements and community facilities. Jeff Lewis with Ice Miller, Tom Mulvihill with KeyBanc, and Johan Rosenberg with Blue Rose Capital Advisors present case studies and explore proven approaches for implementing a successful P3 project.

Innovative Infrastructure Finance in Missouri: Public-Private Partnerships Members only

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. Charles Renner with Husch Blackwell discusses how infrastructure projects in Missouri have been completed utilizing P3.

+Headlines

Communities throughout the country use P3 finance every day and CDFA collects headlines on projects and news daily.

Commonwealth Infrastructure Fund Names Managing Director
P3KY | May. 22 | Public-Private Partnership (P3) Financing

NY Design-Build Approval Supports $1.7B Project
The Bond Buyer | May. 17 | Bond Finance | Infrastructure Finance | Public-Private Partnership (P3) Financing

More 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 Members only

Infrastructure Finance | Local Finance Program | Public-Private Partnership (P3) Financing | Tax Increment Finance (TIF) | Webcasts

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 Members only

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 Members only

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 Members only

Public-Private Partnership (P3) Financing | Webcasts

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.