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Public-Private Partnership (P3) Finance Resource Center

Read more about this Tool

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

Do you want to learn to be a better partner? This section contains resources on understanding the basics of public-private partnerships.

Read more about Public-Private Partnerships

Public-Private Partnerships + Innovative InfrastructureMembers only Login
Robert Gamble from Public Financial Management presents on P3s and innovative infrastructure.

-Resources

View all Public-Private Partnership Resources

-Public-Private Partnerships (P3)

Minority Business Development Agency Awards $3.9M to Serve Indigenous Community
The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) awarded $3.9 million in federal funding to thirteen grant recipients to establish MBDA American Indian, Alaska Native, and Native Hawaiian (AIANNH) projects. To support Tribal and native business growth, the AIANNH Projects aim to address one or more of three strategic initiatives: innovation and entrepreneurship; strategic planning; and/or transformative projects.
Value Capture Strategies and Public-Private PartnershipsMembers only Login
This FHWA webinar discusses how public-private partnerships (P3s) can be leveraged as a value capture strategy for highway-related projects. The webinar is intended for professionals from States, cities, counties, Tribes, and metropolitan and rural transportation agencies looking for innovative funding and financial strategies to pay for transportation projects.
Value Capture Strategies and Infrastructure Bank ProgramsMembers only Login
This FHWA webinar discusses how infrastructure banks tie into value capture strategies for highway-related projects. The webinar is intended for professionals from States, cities, counties, Tribes, and metropolitan and rural transportation agencies looking for innovative funding and financial strategies to pay for transportation projects.
Value Capture Strategies and Municipal Bonds and DebtMembers only Login
This FHWA webinar discusses how municipal bonds and debt can be used as a value capture strategy for highway-related projects. The webinar is intended for professionals from States, cities, counties, Tribes, and metropolitan and rural transportation agencies looking for innovative funding and financial strategies to pay for transportation projects.
View more Public-Private Partnership Resources

-Policies and Procedures

Value Capture Strategies and Public-Private PartnershipsMembers only Login
This FHWA webinar discusses how public-private partnerships (P3s) can be leveraged as a value capture strategy for highway-related projects. The webinar is intended for professionals from States, cities, counties, Tribes, and metropolitan and rural transportation agencies looking for innovative funding and financial strategies to pay for transportation projects.
Public-Private Partnership (P3) Procurement: A Guide for Public OwnersMembers only Login
This Public-Private Partnership Procurement Guide (Guidebook) provides advanced guidance on procedures, issues, and considerations involved in public-private partnership (P3) procurement of surface transportation projects, with a focus on highway and transit investments.
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.
View more Policies and Procedures Resources

-Structures

Value Capture Strategies and Public-Private PartnershipsMembers only Login
This FHWA webinar discusses how public-private partnerships (P3s) can be leveraged as a value capture strategy for highway-related projects. The webinar is intended for professionals from States, cities, counties, Tribes, and metropolitan and rural transportation agencies looking for innovative funding and financial strategies to pay for transportation projects.
CDFA - Ice Miller Broadband Financing Series: The Benefits of Broadband in Economic Development
There are many benefits that come with broadband access and adoption. From healthcare delivery and education to food and retail, the public has much to gain from broadband access. As part of our collaboration with Ice Miller, this video will explore the public- and private-sector benefits from enhanced broadband access and adoption.
Public-Private Partnership (P3) Procurement: A Guide for Public OwnersMembers only Login
This Public-Private Partnership Procurement Guide (Guidebook) provides advanced guidance on procedures, issues, and considerations involved in public-private partnership (P3) procurement of surface transportation projects, with a focus on highway and transit investments.
Understanding the Risks and Rewards of P3sMembers only Login
This resource helps readers grasp the basics of public-private partnerships, risk management, risk allocation, and the role of policymakers in P3s. It first appeared in the Governing Guide to Financial Literacy, Volume 3.
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

Value Capture Strategies and Public-Private PartnershipsMembers only Login
This FHWA webinar discusses how public-private partnerships (P3s) can be leveraged as a value capture strategy for highway-related projects. The webinar is intended for professionals from States, cities, counties, Tribes, and metropolitan and rural transportation agencies looking for innovative funding and financial strategies to pay for transportation projects.
CDFA - Ice Miller Broadband Financing Series: Case Studies of Taking a Project from Start to Finish
There are many models to financing broadband and finding the correct approach for your community may be challenging. As part of our collaboration with Ice Miller, this video will dive into the details of successful locally owned municipal network model in Dublin, Ohio. Learn about this ever evolving project from community leaders that have implemented this approach.
CDFA - Ice Miller Broadband Financing Series: Case Studies & Best Practices of Broadband in P3s
Public-Private Partnerships, or P3s, have been used across the country to finance broadband. As part of our collaboration with Ice Miller LLP, this video will cover best practices of the P3 model and provide case studies that explore the various avenues of broadband projects in both rural and urban areas.
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.
CDBG Partnership Challenges and Opportunities at the Local, State, and Federal LevelsMembers only Login
HUD issued this report in October 2019 to identify opportunities and challenges for Federal, State, and local governments to partner with nonprofit organizations to complete community development, revitalization, and rehabilitation projects using the Community Development Block Grant (CDBG) program.
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-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

Fundamentals of Economic Development Finance Course
January 26-27, 2022
Daily: 12:00 - 5:00 PM Eastern
CDFA's Fundamentals of Economic Development Finance Course 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
View All Courses

-Upcoming Events

CDFA Federal Financing Webinar Series: Preserving Local Food Systems with Federal Financing
Tuesday, December 14, 2021
2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Federal Financing Webinar Series, hear from experts at the USDA about their various programs available for rural food systems and agricultural producers to recover from the pandemic.
Register
Fundamentals of Economic Development Finance Course
January 26-27, 2022
Daily: 12:00 - 5:00 PM Eastern
CDFA's Fundamentals of Economic Development Finance Course 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
View more Upcoming Events

-Webcasts

Value Capture Strategies and Public-Private PartnershipsMembers only Login
This FHWA webinar discusses how public-private partnerships (P3s) can be leveraged as a value capture strategy for highway-related projects. The webinar is intended for professionals from States, cities, counties, Tribes, and metropolitan and rural transportation agencies looking for innovative funding and financial strategies to pay for transportation projects.
Value Capture Strategies and Infrastructure Bank ProgramsMembers only Login
This FHWA webinar discusses how infrastructure banks tie into value capture strategies for highway-related projects. The webinar is intended for professionals from States, cities, counties, Tribes, and metropolitan and rural transportation agencies looking for innovative funding and financial strategies to pay for transportation projects.
Value Capture Strategies and Municipal Bonds and DebtMembers only Login
This FHWA webinar discusses how municipal bonds and debt can be used as a value capture strategy for highway-related projects. The webinar is intended for professionals from States, cities, counties, Tribes, and metropolitan and rural transportation agencies looking for innovative funding and financial strategies to pay for transportation projects.
Enhancing Local Workforce Development and Building for the Future
Automation, shifting demographics, COVID-19 and increased telework opportunities are reshaping the workforce landscape amid shifting industry needs. Counties, through local and regional partnerships and workforce development boards, are working with public, private, and nonprofit partners to help train job seekers and connect them with local employers.
CDFA // BNY Mellon Development Finance Webcast Series: Rural Broadband & Telehealth Financing Members only Login
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, experts explain how rural communities can embrace the challenges of financing high-speed internet for the economic and societal gains provided by broadband.
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CDFA National Sponsors

  • Baker Tilly
  • BNY Mellon
  • Bricker & Eckler LLP
  • Brownfield Superfund Advisory, Inc
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd LLC
  • gener8tor
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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