Posts in P3s.

The Regents of the University of California (the Regents), on behalf of the University of California, Merced (UC Merced), announced today that three teams have been shortlisted to submit detailed proposals for the Request for Proposals (RFP) phase of the UC Merced 2020 project.

The three shortlisted teams and their equity members are (in alphabetical order):

  • E3 2020:  Balfour Beatty Investments, Inc.
  • EP2 Developers:  Edgemoor Infrastructure & Real Estate LLC, Plenary Group (Canada) Ltd., and Education Realty Trust, Inc.
  • Merced Campus Collaborative:  Lend Lease (US) Investments ...
Posted in Financing, P3s

At the TRB P3 Subcommittee meeting on January 12, 2015, among the topics discussed is the growth in the U.S. P3 market of the availability payment approach and less use of toll concessions.  Availability payment contracts have the advantage of lowering financing costs, incentivizing high quality performance and keeping toll setting authority with the public owner.  However, there may be a limit to the amount of annual payments a public agency is willing to commit itself to make.  Toll concessions shift demand and revenue risk to the private sector and interest particularly among ...

Posted in P3s

In the modern U.S. history of public-private partnerships, the prevailing project delivery models have been the toll concession and the availability payment contract.  In both cases, the private party raises equity and debt financing and takes responsibility and risk for completing design, constructing and providing long-term operations and maintenance.  The major difference between the two is that in the toll concession the private party takes the revenue risk and secures its debt with project toll revenues, while the public owner takes the project revenue risk under an ...

Posted in P3s

The Arizona Department of Transportation received on December 10 statements of qualifications from five teams vying for a design-build-maintain contract for the $1.9 billion Loop 202 South Mountain Freeway Project.  The submitting teams are:

1.  Connect 202 Partners

  • Fluor Entreprises Inc.
  • Granite Construction Co.
  • Ames Construction Inc.
  • Parsons Brinckerhoff Inc.
  • DBi Services LLC

2.  South Mountain Mobility Group

  • Dragados USA, Inc.
  • Flatiron Constructors, Inc.
  • Pulice Construction Inc.
  • AECOM Infrastructure Inc.
  • AECOM Technical Services
  • ACS Infrastructure Development, Inc.
Posted in P3s, Water

Despite perceived uncertainty as to the future of two, prominent transportation P3 projects, it appears that jurisdictions within Maryland are looking to P3 structures to solve a wider array of infrastructure issues in the state.

Prince George’s County, one of Washington, D.C.’s Maryland suburbs, recently entered into a first-of-its-kind stormwater P3 with a subsidiary to Corvias, a private company with P3 experience in housing social infrastructure.  The partnership entity, called the Clean Water Partnership will tackle regulatory requirements for stormwater ...

The Regents of the University of California (the Regents), on behalf of the University of California, Merced (UC Merced), announced on October 30, 2014 that it received Statements of Qualifications (SOQs) from six teams in response to the reissued Request for Qualifications (RFQ) for the UC Merced 2020 P3 Project (the Project).

The reissued RFQ was released on September 25, 2014. The six teams that submitted SOQs in response to the reissued RFQ were substantially the same six teams that responded to the initial RFQ released in April 2014.

The respondents and their equity members are ...

Posted in P3s

The inaugural P3s for Public Buildings Summit will be held on November 17-18, 2014 at the Hyatt Regency in Miami, FL. The summit will be hosted by the National Council for Public-Private Partnerships and the Performance Based Building Coalition.

The summit will explore ways that P3s can be developed and implemented to replace the nation’s deteriorating public buildings, including schools, hospitals, courthouses, universities, police stations and prisons.

  • Topics of discussion will include:
  • Financing of projects;
  • Federal policy challenges and solutions;
  • Case studies of ...
Posted in P3s, Policy

On September 17, the House Transportation & Infrastructure Committee’s Panel on Public-Private Partnerships (P3s) released its report and recommendations.  The group, empaneled in February of this year, was tasked with examining issues regarding public-private partnerships across all aspects of the Committee’s jurisdiction.  The panel held two hearings and seven roundtable discussions in addition to other meetings and briefings. The report recognizes that the nation’s infrastructure needs are extraordinary and P3s in certain situations can provide innovative ...

The FHWA published its final Core Toll Concessions P3 Model Contract Guide (Guide) on September 10, 2014 as part of its mandate under MAP-21 to develop standard public-private partnership transaction model contracts for the most popular types of public-private partnerships.  The Guide serves as an educational tool to assist states, public transportation agencies, and other public officials in developing their own public-private partnership agreements. 

The FHWA determined an educational approach is preferred to prescriptive requirements based on feedback received during a ...

The Florida Department of Transportation reached commercial and financial close on the I-4 Ultimate Project in the urban Orlando area.  The $2.3 billion deal is the third transportation P3 project in Florida developed through an availability payment structure, and is the largest availability payment transaction ever undertaken in the United States.

FDOT entered into an agreement with I-4 Mobility Partners OpCo LLC, a consortium led by Skanska Infrastructure Development Inc. and John Laing Investments Limited.  The Concessionaire will design, construct, finance, maintain and ...

Posted in P3s, Tunnels

On August 3, 2014, the Florida Department of Transportation (FDOT) and the Port of Miami achieved an important milestone when the est. $1 billion Port of Miami Tunnel opened for traffic.  The project consists of twin tunnels under Biscayne Bay linking Port facilities on Dodge Island with a widened MacArthur Causeway and I-395.  One of the first public-private partnerships in the United States to use an availability payment contracting structure, the tunnel improves access for freight trucks and cruise passengers, reducing traffic congestion in downtown Miami and improving air ...

The Regents of the University of California (the Regents), on behalf of the University of California, Merced (UC Merced), announced on August 1, 2014 that it received Statements of Qualifications (SOQs) from six teams in response to a Request for Qualifications for the UC Merced 2020 P3 Project.

The respondents and their equity members are (in alphabetical order):

  • Edgemoor Plenary EdR Partners (EP2):  Edgemoor Infrastructure & Real Estate LLC, Plenary Group USA Ltd., and Education Realty Trust, Inc.
  • E3 2020:  Balfour Beatty Investments, Inc.
  • Gateway2Learn:  HOCHTIEF PPP Solutions ...
Posted in P3s

During the Use of WIFIA breakout session at the NCPPP P3 Connect conference this week in Denver, Elizabeth Corr, Associate Division Director for the EPA, confirmed that the agency will not need to complete the formal federal rulemaking process to implement the Water Infrastructure Finance and Innovation Act.  The Act, or WIFIA, was recently enacted by Congress to make low cost loans and loan guarantees available to public and private sponsors of water projects and is based on the highly successful TIFIA program for transportation projects.  Ms. Corr mentioned that EPA conducted its ...

Posted in P3s

After a re-boot, the National Conference for Public-Private Partnerships (NCPPP) concluded a three day summit July 30 in Denver, Colorado on all things P3.

NCPPP’s P3 Connect annual meeting held programs addressing P3 project delivery in the water/waste water, federal and state disaster recovery, U.S. Department of Defense/U.S. General Service Administration (GSA) and emerging social infrastructure spaces, in addition to the more traditional transportation/transit spaces that has seen recent sustained growth in the United States.

Nossaman’s Barney Allison

Posted in Design-Build, P3s

The Arizona Department of Transportation announced today its decision to deliver the $1.9 billion South Mountain Freeway Project under a single design-build-maintain public-private partnership.  While there will be a long-term maintenance component, ADOT, in collaboration with the Maricopa Association of Governments and the Arizona Division of the Federal Highway Administration, has decided to use available public funds together with public financing to pay for the project.

 

ADOT received an unsolicited proposal for the project more than a year ago.  Under its P3 ...

On July 28, 2014, the Maryland Transit Administration (MTA) and Maryland Department of Transportation (MDOT) issued the final request for proposals for a public-private partnership to design, build, finance, operate and maintain the Purple Line light rail transit project using an availability payment approach.  The Purple Line is a 16-mile route extending from New Carrollton in Prince George’s County to Bethesda in Montgomery County, with 21 stations and three links to the Washington DC, Metro and MARC commuter train systems.  The Purple Line has estimated project value of ...

Posted in Financing, P3s, Policy

President Barak Obama today announced the Build America Investment Initiative (the Initiative).  According to the Fact Sheet released by the White House in advance of the announcement, the purpose of the Initiative is to increase infrastructure investment and economic growth by engaging with state and local governments and private sector investors to encourage collaboration, expand the market for public-private partnerships (PPPs) and put federal credit programs to greater use.

The transportation industry will be the first to benefit from the Initiative.

The Fact Sheet lays ...

Posted in P3s

According to a recently released study by the Bay Area Council Economic Institute, a public-private partnership (P3) may be the most effective method to deliver a proposed expansion of the San Francisco Veterans Administration Medical Center (SFVAMC) – but there are some barriers that need clearing.

The SFVAMC is a leading Veterans Administration (VA) medical center, having the largest research program in the national VA system, and providing one-third of the clinical education and curriculum for medical students and residents from the medical school at the University of ...

Many federal, state and local government agencies are looking for innovative and cost effective methods to deliver essential social infrastructure such as educational facilities, hospitals and criminal justice facilities and related infrastructure.  As a result, these agencies are increasingly interested in assessing and pursuing the P3 delivery model.  However, these agencies often lack clear statutory authority to use a P3 delivery model for social infrastructure.  Recognizing this gap, Nossaman has developed a model social infrastructure P3 bill, based on its extensive ...

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Posted in P3s

Wrapping up the 2013 P3 awards season, East End Crossing won the Projects Grand Prize as well as the Gold Prize for best P3 road project at the Partnerships Bulletin awards ceremony Thursday night at the Park Lane Hotel in London.  The toll bridge availability payment project in southern Indiana, USA, was the top winner among 7 other P3 projects nominated from around the world.  Attended by over 700 of the leading industry participants, the project was recognized for its innovative financing structure and well run procurement process.

Connecting Kentucky and Indiana over the Ohio ...

As demand for government services continues to grow across the United States, federal, state and local government agencies must identify innovative and cost effective methods to deliver essential social infrastructure. While many agencies are interested in pursuing innovative P3 delivery models to procure public buildings, they often lack the clear necessary legislation to authorize P3 deals.

We offer below, for consideration and comment, a draft model social infrastructure P3 bill.  We developed the draft legislation based on our experience advising US public agencies ...

Posted in P3s

The Florida Department of Transportation (FDOT) announced today that it has selected I-4 Mobility Partners as the apparent best value proposer to design, build, finance, operate and maintain the I-4 Ultimate project.  The I-4 Ultimate project contemplates a 40-year availability payment contract at a total design and construction cost of $2,323,000,000.00 in year of expenditure dollars.  This cost is approximately $860 million less than the highest proposal received by FDOT at $3,180,033,233.90 in year of expenditure dollars.  Commercial and financial close is expected ...

Posted in P3s

On Tuesday, April 8th, the House Transportation and Infrastructure Panel on Public-Private Partnerships held a hearing on "The International Experience with Public-Private Partnerships".  The Panel focused in particular on the Canadian experience, observing that over the past two decades Canada has become one of the most advanced and active markets for P3s. The witness list and links to their testimony are as follows:

The Honorable John Delaney, United States Representative, Maryland

Dr. Larry Blain, Chairman of the Board of Directors, Partnerships British Columbia | Written Testimony

Mr. David Morley, Vice President, Business and Government Strategy, Infrastructure Ontario | Written Testimony

Cherian George, Managing Director – Americas, Global Infrastructure & Project Finance, Fitch Ratings | Written Testimony

Dr. Matti Siemiatycki, Associate Professor, Program in Planning, University of Toronto | Written Testimony

Congressman John Delaney began by describing the magnitude of the nation’s infrastructure deficit.  Referring to an estimate made by the American Society for Civil Engineers, he explained that close to $4 trillion needs to be invested to bring infrastructure in the US up to world class standards.  As governments are cash strapped, he advocated that private sector capital be engaged to increase investment in infrastructure to fill the gap, and he noted the importance of smart P3 frameworks to meet this infrastructure challenge.  Congressman Delaney referred to The Partnerships to Build America Act (H.R. 2084), which he introduced to the House on May 2013.  He explained that The Partnerships to Build America Act would provide for the financing of state and local government transportation, energy, communications, water, and education infrastructure projects through the creation of an infrastructure fund.

The Panel did not put questions to Congressman Delaney, leaving that for the House. The Panel did, however, engage in a lively discussion with the remaining witnesses about the Canadian experience with P3s and explored the suitability of the Canadian approach for infrastructure projects in the US.

Witnesses outlined various factors that have resulted in successful P3 projects in Canada.  The creation of specialized provincial agencies staffed with experts skilled with both evaluating projects for P3 delivery and negotiating with the private sector was noted as a significant factor contributing to successful P3 deals. Further, the development by these agencies of consistent and predictable procurement processes and standardized documentation has facilitated the delivery of P3 projects and encouraged the development of the P3 market in Canada.

Mr. George of Fitch Ratings, discussing P3s from a global perspective, pointed out that P3s can provide public value, but these transactions need to be appropriately designed and carefully crafted to address all stakeholder concerns.  He indicated that projects that have a defined scope where performance can be measured are better suited to P3 delivery.  He noted that lessons can be learned from past P3 projects undertaken around the world.  He spoke to a few examples including the 407 toll road in Ontario and Chicago’s Skyway toll concessions, each of which came under considerable criticism and involved legal disputes.

Witnesses pointed out that in Canada P3s are not typically used to raise new money to pay for infrastructure through user fees or tolls.  Instead, P3s are viewed in Canada as a way to finance a project using private capital that is repaid overtime by the government through availability payments.  Congressman Sean Patrick Maloney (D-NY) indicated that while P3s are not viewed as a funding solution in Canada, P3s are being considered for that purpose in the US.

Posted in P3s

On March 26, the Florida Department of Transportation (FDOT) celebrated the grand opening of the $1.2 billion I-595 Express Corridor Improvements Project (Project) in Broward County, Florida.  The Project is the nation’s first Availability Payment public-private partnership and the first public-private highway deal in Florida.

The Project consists of the reconstruction of the I-595 mainline from the I-75/Sawgrass Expressway interchange to the I-595/I-95 interchange on I-595 and from Peters Road to Griffin Road on Florida's Turnpike, for a total project length of 13 miles ...

Posted in P3s

The Florida Department of Transportation (FDOT) announced yesterday that it received four financial proposals in response to a Request for Proposals issued by FDOT on October 11, 2013 for the I-4 Ultimate Project.  On June 5, 2013, FDOT announced a shortlist of four proposers, all of whom submitted financial proposals yesterday and technical proposals on February 12, 2014 seeking the contract to design, build, finance, operate and maintain the project.

The estimated $2 billion project, which will be developed through a public-private partnership concession agreement, includes ...

Posted in P3s

The Florida Department of Transportation (FDOT) announced yesterday that it has received four Technical Proposals in response to its Request for Proposals for the I-4 Ultimate Project.  On June 5, 2013, FDOT announced a shortlist of four proposers, all of whom submitted proposals seeking the contract to design, build, finance, operate and maintain the project.

The estimated $2 billion project, which will be developed through a public-private partnership concession agreement, includes the reconstruction of 21 miles of I-4 in the metro Orlando area. The project adds four tolled ...

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Posted in Design-Build, P3s

Yesterday the Arizona Department of Transportation issued to the P3 and design-build industry a Request for Information for the South Mountain Freeway project.  ADOT is seeking perspective and feedback from lead developers, design-build contractors, maintenance contractors, and equity investors on a list of questions, and is providing an opportunity for industry input on the overall procurement process for the project.

Responses are requested by February 25.  ADOT will convene and open industry forum on the project at the ADOT auditorium on February 27, and the industry has ...

Posted in P3s

Victor Mendez, Acting Deputy Secretary at the U.S. Department of Transportation, participated this morning in a Bloomberg Government panel entitled America on the Move: Investing in U.S. Infrastructure. In a wide-ranging discussion, he addressed the issue of long-term funding for U.S. infrastructure.

He commented that there is a need for many funding options and we need the private sector in the mix. The TIFIA program has been successful, financing 40 or so projects so far with the private sector, many of them toll roads.  Some of the projects are very long term, up to 50 years.

Mendez ...

Posted in P3s

On January 8, 2014, the Maryland Department of Transportation and the Maryland Transit Administration announced that four teams were short-listed to submit proposals to design, build, construct, finance, operate and maintain the Purple Line Project through a public-private partnership (P3). The estimated $2.2 billion Purple Line Project is 16.2 mile light rail transit line that extends from Bethesda in Montgomery County to New Carrollton in Prince George’s County, connecting major activity centers inside the Capital Beltway. The four teams, representing a combination of ...

Posted in P3s

Recognizing the innovative P3 approach to project delivery and financial structure for a major US infrastructure project, the Bond Buyer awarded the Indiana Finance Authority's private activity bonds for the East End Crossing the Deal of the Year Award at its annual event held at the Waldorf Astoria hotel in New York City.  Notably, this is the first P3 transaction to win the award.

The $1.2B East End Crossing, a portion of the $2.6B Ohio River Bridges project, one of the largest transportation undertakings in the U.S. and the first availability payment P3 for the Indiana Finance ...

Posted in P3s

The Indiana Finance Authority (IFA) issued its Request for Qualifications (RFQ) for an availability payments public private partnership for the financing, building and operating of the Indiana portion of the Illiana Corridor Project (the Indiana Portion) and I-65 Added Capacity Project (I-65 Project and collectively with the Indiana Portion, the Project) on November 12.  The Illiana Corridor Project is a collaborative effort among the Illinois Department of Transportation (IDOT), Indiana Department of Transportation, and IFA to construct a highway, approximately 46.8 ...

Posted in P3s

The Arizona Department of Transportation (ADOT) and Infrastructure Corporation of America (ICA) have entered into a concession agreement under which ICA will operate and maintain ADOT’s 14 highway rest areas.  The concession agreement is the first agreement ADOT has executed under its public-private partnership (P3) statute, which has been in place since 2009, and is one of several P3 opportunities ADOT is pursuing.

ADOT’s concession agreement with ICA went into effect on October 1st and has an initial term of five years.  ADOT may, at its discretion, extend the term of the ...

Posted in P3s

Before departing Washington, DC for the traditional August Congressional recess, Congressmen Mike Rogers (R-AL-3) and Gerry Connolly (D-VA-11) announced that they are forming the Congressional Caucus on Public-Private Partnerships, or the Congressional P3 Caucus.  In the press release announcing the caucus, Rogers says that he hopes the group will help raise awareness of infrastructure issues and examine public-private partnerships across the country.  Congressional caucuses are formed by Members seeking to work collectively on issues, usually with the goal of increasing ...

Posted in P3s

Earlier this year the SHRP 2 Program and the Transportation Research Board issued a report entitled The Effect of Public-Private Partnerships and Non-Traditional Procurement Processes on Highway Planning, Environmental Review and Collaborative Decision Making, which is available on the TRB website.

Public-private partnerships (P3s) have become an important tool in developing and financing infrastructure improvements, and are being used by transportation agencies across the nation.  One issue faced by agencies wishing to explore the use of P3s concerns how P3 strategies ...

Posted in P3s

Last week the Nevada Department of Transportation (NDOT) conducted a two-day industry workshop at the Golden Nugget Conference Center in Las Vegas, Nevada, for Project Neon, a freeway improvement project on the west side of Las Vegas. More than 200 attendees, including major international developers and local contracting firms, learned about NDOT’s plans to procure the first phase of the project (the P3 Phase) under an availability payment approach where the winning bidder would design, build, finance, operate and maintain the project for approximately a 35-year term. This ...

Posted in P3s

On July 26, the American Road & Transportation Builders Association (ARTBA) held its awards dinner for the 25th Annual P3s in Transportation Conference.   Each year during this dinner, the ARTBA P3 Division honors projects that exemplify the value of P3s in the United States and also recognizes two individuals, one public sector and one private sector, for their exemplary contributions to the development, growth and public education of P3s.  

This year, the Ohio River Bridges – East End Crossing and its public and private participants swept the awards dinner.  The project won Project ...

Posted in P3s

On July 23, the Georgia State Transportation Board (STB) voted to accept the selection of Northwest Express Roadbuilders (NWER) as the apparent best value proposer for the $840 million Northwest Corridor managed lanes P3 project located in Cobb and Cherokee Counties.  The project is the largest transportation infrastructure project in the history of the Georgia Department of Transportation (GDOT).  It includes two reversible tolled managed lanes along the west side of I-75 between its interchanges with I-285 and I-575.  Also, above the I-575 interchange, one reversible tolled ...

Posted in P3s

After achieving several P3 project milestones and awards in 2012, Virginia’s Office of Transportation Public-Private Partnerships (OTP3) on behalf of the Commonwealth of Virginia released a draft document entitled 2013 Virginia PPTA Project Pipeline for public comment.  The document identified the following 10 projects as potential P3 projects to be procured under Virginia’s Public-Private Transportation Act:

  • I-66 Corridor Improvements
  • Air Rights Development
  • I-64 HOV to HOT Lane Conversion
  • I-64 Peninsula Improvements
  • Hampton Roads Crossing Improvements
  • I-73 ...
Posted in P3s

On June 27th, Florida Governor Rick Scott signed a bill into law that gives counties, municipalities, school boards and other political subdivisions in the Sunshine State authority to enter into public-private partnership (P3) agreements for facilities that serve a public purpose.  The bill - HB 85 - authorizes P3s for a wide range of facilities, including education facilities, transportation facilities, water / wastewater facilities, roads, highways and bridges, healthcare facilities and sporting or cultural facilities.  The bill does not cover the Florida Department of ...

Posted in P3s

As we previously reported in April, organizations that annually recognize top projects and industry organizations worldwide have proven that they are no longer focusing solely on mega-projects that are part of major design-build contracts.  This was apparent at the Partnerships Awards hosted by Partnerships Bulletin and PPP Bulletin International on May 23, 2013, where numerous US agencies and projects received recognition.

The Commonwealth of Virginia’s Office of Transportation Public-Private Partnerships received the distinction of Best Central/Regional ...

Posted in P3s

On May 1, the Los Angeles County Metropolitan Transportation Authority (Metro) will hold an industry forum to present initial concepts for several multimodal P3 projects that are being considered for the Sepulveda Pass Corridor in Los Angeles County.  The forum will be held from 9:00 a.m. to 12:00 p.m. in the Ticket Room at Los Angeles Union Station.  Los Angeles Mayor Antonio Villaraigosa, Los Angeles County Supervisor Don Knabe, and Art Leahy, Metro's CEO, are expected to address the forum attendees.

The projects under consideration include a high-capacity rail system and a tolled ...

Posted in P3s

Nossaman would like to congratulate the California Department of Transportation and the San Francisco County Transportation Authority for the Presidio Parkway Project's recognition as the "Best Real Estate Deal of the Year" in the category of Infrastructure/Public-Private Partnership by the San Francisco Business Times.  Winners were announced at the publication's annual awards dinner in San Francisco on March 20, 2013.

This recognition is the latest in a number of industry awards honoring the Presidio Parkway Project, which is the first transportation project to be procured ...

Posted in P3s

As the 2013 award season heats up for 2012 successes around the world, the juries are increasingly finding the US market hard to ignore. Infrastructure Journal and PPP Bulletin International, the two London-based media organizations that annually recognize top projects and industry organizations worldwide, have each announced their finalists for this year's best transportation transactions and firms. Focusing on public-private partnership projects as opposed to those mega-projects which are the subject of major design-build contracts, these organizations ...

Posted in P3s

This year, the American Road and Transportation Builders Association (ARTBA) will be holding its 25th Annual Public-Private Partnership conference on July 24-26 in Washington, D.C.  To commemorate the silver anniversary of the conference, ARTBA has announced that a special cocktail reception and gala dinner will be held at the Smithsonian Museum of American History on the evening of July 25. 

Attendees will have exclusive access to the ARTBA-sponsored America on the Move exhibition currently on display at the museum.  The exhibition explores the role of transportation in American ...

Posted in P3s

On March 7, Project Finance Magazine held its annual Project Finance Americas Deals of the Year awards dinner in New York City.  The awards – which started 14 years ago – are for innovation, deal repeatability, best practice, problem solving, value for money and speed of delivery in the financing of infrastructure projects.  Two public-private partnership projects – one on the East coast and one on the West coast – received honors at this year’s dinner.     

The award for 2012 North America Toll Road Deal of the Year was given to the Midtown Tunnel project located in the Hampton Roads ...

Posted in P3s

As part of its effort to meet MAP-21’s legislative requirement to develop standard public-private partnership transaction model contracts for the most popular types of public-private partnerships, the Federal Highway Administration held a listening session with representatives from the transportation industry at the U.S. Department of Transportation in Washington D.C. on January 16.  Representatives from state departments of transportation, general contractors, trade associations, legal advisors and others were in attendance, and solicited to provide FHWA with the ...

Posted in P3s

A key element of a successful P3 program is an effective and comprehensive public outreach strategy.  Demonstrating why Virginia remains a leader in closing P3 transportation deals, the Virginia Office of Transportation Public-Private Partnerships (OTP3) recently prepared a variety of fact sheets, presentations and FAQs focusing on different aspects of P3s in Virginia.  The materials can be found at the OTP3 website.

These materials were prepared in cooperation with the Public Private Transportation Act Working Group.  This group was established in June 2012 to solicit ideas and ...

Posted in P3s

The 20th annual conference of The Canadian Council of Public-Private Partnerships (CCPPP) was held in Toronto on November 26-27, 2012.  Drawing industry leaders from within and outside of Canada, the conference this year reflected the maturity of the Canadian market and the interest of P3 players looking beyond its borders for future opportunities, particularly participating in the growing U.S. P3 market. 

One of the keynote speakers was Michigan Governor Rick Snyder, who championed the proposed $3.5 billion Detroit-Windsor bridge and expressed appreciation for Canada’s ...

Posted in P3s

On November 29, 2012, financial closing was achieved on a 30 year concession relating to the water and wastewater facilities of the City of Rialto, California.  The agreement, which had been executed in March 2012, is among Rialto Water Services, LLC, the single purpose vehicle set up by Table Rock Capital as the project sponsor, the City of Rialto and the Rialto Utility Authority.  

The approximately $175 million transaction is being bond financed through a private placement and an approximately $26 million equity contribution.  The concession agreement provides for approximately ...

Posted in News, P3s

On October 10 through 12, the American Road & Transportation Builders Association (ARTBA) held their 24th Annual Public-Private Partnerships in Transportation Conference in Washington, DC.  Each year during this conference, the ARTBA P3 Division honors two individuals, one public sector and one private sector, for their exemplary contributions to the transportation industry. 

This year we are proud to announce that Nossaman's Geoff Yarema was named "P3 Private Sector Entrepreneur of the Year."  Geoff is the first two-time recipient of this award, having received the award in ...

Nossaman LLP’s 30-plus infrastructure attorneys offer clients, colleagues, strategic partners, and industry media a wealth of practical experience, insider insight, and thoughtful analysis here on Infra Insight. We blog about what we know best, from industry-leading procurements to local and national policy developments that affect the market and our clients.

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