Public-Private Partnership (P3) Finance Resource Center
A public-private partnership (P3) is 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 income resulting from the partnership. Such a venture 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.
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-Understanding Public-Private Partnerships
Search the map below to find Public-Private Partnership (P3) legislation by state. This specialized search is part of CDFA's State Financing Program Directory
, the only online resource cataloging the development finance programs offered by state governments. Click on a state to see a sample of programs available. Login with a CDFA Member account at the top of the page to view full results.
Transportation Case Study - Portsmouth Bypass (OH State Route 823)Members only Login
In 2018, the Ohio Department of Transportation (ODOT) completed the Portsmouth Bypass—state Route 823. ODOT developed the project through a design, build, finance, operate, and maintain public-private partnership concession with a total cost of more than $1.2 billion. This case study from the Center for American Progress examines the project.
Supporting Healthy Food Access in NCMembers only Login
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The resulting lack of access to healthy, affordable food undermines the health and well-being of children and families, and further harms communities that are already struggling economically. The report led to a series of convenings of key stakeholders charged with developing recommendations for increasing access to healthy, affordable foods for residents in both urban and rural underserved areas throughout the state.
Practitioner's Guide to Economic Development Finance
The Practitioner's Guide to Economic Development Finance 2nd Edition is the only comprehensive resource dedicated to building and utilizing the development finance toolbox. The Practitioner's Guide provides the insight and practical information needed to critically understand how economic development is financed and the tools, strategies and techniques used to build strong communities. From bonds, tax increment finance and special districts to tax credits, seed & venture capital, revolving loan funds and much more, this Guide outlines the financing tools required for succeeding in today's competitive economic development climate.
Unlocking Capital: A Handbook for Becoming a High Performing Development Finance Agency
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Unlocking Capital: A Handbook for Becoming a High Performing Development Finance Agency (Handbook) serves as a companion to the Practitioner’s Guide to help illuminate the structures of development finance agencies (DFAs), essential conduits to access development finance tools. The Handbook provides an overview of DFAs and their myriad roles in various development efforts. Included in this discussion is a comprehensive look at over a dozen high-performing DFAs throughout the country. The Handbook is designed to be a starting point for local leaders to engage in the creation or acceleration of a DFA to build and utilize the development finance toolbox.