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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.

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.
The Latest in Illinois P3s - Transit TIF
As budgets are stretched and new rules are created, it can be difficult to pull together funding for necessary infrastructure improvements and community facilities. Fran Rood with SB Friedman Development Advisors presents case students and discusses the latest in transit TIF.
The Latest in Illinois P3 Deals
As budgets are stretched and new rules are created, it can be difficult to pull together funding for necessary infrastructure improvements and community facilities. Rob Winner with Seyfarth Shaw LLP presents case students and explores proven approaches for implementing a successful P3 project
Bond Financing across South Carolina
Harry Huntley with JEDA discusses how this long-standing too, bonds, can be used today to provide a significant portion of a project's capital stack with a special focus on bond financing programs in South Carolina. Harry walks through bond deals and explores strategies for maximizing the tool throughout the state.
2017 CDFA Pennsylvania Financing Roundtable Webinar
This webinar features a number of economic development finance experts from around the state discussing development finance tools, authorities, resources and approaches, and how these can affect the Pennsylvania economy going forward. Learn from expert speakers Thomas Henson with NW Capital Markets, David Langlieb with Philadelphia Industrial Development Corporation, Melissa Stone with Harrisburg Regional Chamber, and Ryan Unger with Team Pennsylvania.

+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: 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 Illinois Financing Roundtable Webcast: How P3 is Driving Economic Development Downstate
Public Private Partnerships (P3) are being used for many downstate projects to fund transportation, water and other infrastructure.

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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