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.
Want regular updates on P3 and other development finance tools? Subscribe to one of CDFA's
Newsletters.
-Understanding Public-Private Partnerships
-Resources
View all Public-Private Partnership Resources
-Public-Private Partnerships (P3)
-Policies and Procedures
GASB Draft P3 and Availability Payment Arrangements Members only 
Login
The Governmental Accounting Standards Board (GASB) is responsible for (1) establishing and improving standards of state and local governmental accounting and financial reporting to provide useful information to users of financial reports and (2) educating stakeholders on how to most effectively understand and implement those standards.
Public Private Partnerships in Ohio for Infrastructure, Transportation, Energy & Development Projects Members only Login
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. David Rogers with Frost Brown Todd LLC and Ryan Sullian with Signet Capital present case studies and explore proven approaches for implementing a successful P3 project in Ohio, where there is no official P3 statute.
Innovative Infrastructure Finance in Missouri: Public-Private Partnerships Members only Login
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.
View more Policies and Procedures Resources
-Structures
GASB Draft P3 and Availability Payment Arrangements Members only Login
The Governmental Accounting Standards Board (GASB) is responsible for (1) establishing and improving standards of state and local governmental accounting and financial reporting to provide useful information to users of financial reports and (2) educating stakeholders on how to most effectively understand and implement those standards.
Public Private Partnerships in Ohio for Infrastructure, Transportation, Energy & Development Projects Members only Login
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. David Rogers with Frost Brown Todd LLC and Ryan Sullian with Signet Capital present case studies and explore proven approaches for implementing a successful P3 project in Ohio, where there is no official P3 statute.
View more Structures Resources
-Programs Map
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.
-Case Studies
Supporting Healthy Food Access in NCMembers only Login
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.
Public Private Partnerships in Ohio for Infrastructure, Transportation, Energy & Development Projects Members only Login
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. David Rogers with Frost Brown Todd LLC and Ryan Sullian with Signet Capital present case studies and explore proven approaches for implementing a successful P3 project in Ohio, where there is no official P3 statute.
View more Case Studies
-Headlines
-Publications
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
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.
View more Publications -Training Courses
The
Intro Public-Private Partnership (P3) Finance WebCourse 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 covers 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.
View more Training Courses-Upcoming Events
Fundamentals of Economic Development Finance WebCourse
January 29-30, 2020
Daily: 12:00 - 5:00 PM Eastern
The Fundamentals WebCourse is the foundation for all of CDFA’s educational offerings. This course helps attendees understand the variety of development finance tools available, from bonds, tax credits and TIF, to federal financing programs, RLFs, and access to capital lending resources.
Register
CDFA Federal Policy Conference
April 14-15, 2020
Washington, DC
The federal government plays a critical role in driving private and public investment in innovation, job creation, infrastructure, and community development. With the 2020 presidential election quickly approaching, development finance will be a key policy issue across the nation. The 116th Congress will also play a major role in shaping our country’s economic development policy going forward. It's up to the development finance community to focus the national discussion on smart federal policy, and CDFA is the voice of the economic development finance community on Capitol Hill. For these reasons, CDFA will host its CDFA Federal Policy Conference on April 14-15 in Washington DC.
Register
View more Upcoming Events
-Webcasts