The University of Iowa has entered into a 50-year utility public-private partnership (P3), engaging a private partner to operate, maintain, optimize, and improve the University’s existing utility system and help the University transition to coal-free energy production by 2024. ENGIE North America and Meridiam will serve as the University’s private partner. According to the University, the deal represents one of the first utility P3s entered into by any university in the country.
Under this 50-year P3 agreement, the University’s private partner will provide steam ...
A few weeks ago, I had the privilege of again attending CoMotion LA. Spearheaded by John Rossant, CoMotion LA brings together leaders and innovators of new solutions to solve the mobility issues of our modern world. One of the central themes was adopting new mobility solutions to relieve congestion, an increasingly prevalent reality as populations in cities continue to grow.
During the panel on “Financing the Future: Public-Private Partnering for New Mobility Solutions,” a panel comprised of representatives from the Canadian electric school bus manufacturer Lion Electric ...
In an effort to promote project flexibility, funding innovation, efficiencies and timely implementation, this week the Federal Transit Administration (FTA) released its final rule regarding P3s (and other private involvement) in public transportation projects.
The primary goal of FTA’s Private Investment Project Procedures (or PIPP), new 49 C.F.R. Part 650, is to identify and address FTA requirements that are impediments to the greater use of public-private partnerships and private investment in public transportation capital projects, while protecting the public ...
The need to spend significant dollars on the repair and expansion of the nation’s public infrastructure is a major concern expressed by many. Even the two presidential candidates for the major political parties, who don’t seem to agree on anything else, agree that a commitment to repair and rebuild the nation’s infrastructure is critical to economic productivity and opportunity for its citizens.
In a recent paper published by the Center for American Progress, a public policy and research organization, entitled Assessing Claims About Public-Private Partnerships, the ...
Public agencies and private entities are increasing collaboration to develop, operate and maintain a variety of transportation and building projects. The involvement of a public agency in these public-private partnerships or P3s may necessitate compliance with statutes or regulations not otherwise applicable to privately developed projects, including a requirement to pay prevailing wages to construction workers. In a recent decision, the U.S. Court of Appeals held that a private project developed on land leased from the District of Columbia (D.C.) is not subject to the Davis ...
In a number of recent conversations regarding using Public-Private Partnerships (P3s) to deliver large infrastructure projects under an availability payment structure, I’ve heard a lot of angst by public owners over the cost of private finance and that AP’s may be viewed as debt by the rating agencies. It’s true the rating agencies have indicated that AP’s can be considered debt for purposes of assessing an agency’s debt capacity but that’s only one aspect of the delivery method to consider.
S&P has issued several reports/FAQs regarding P3’s in the last couple of ...
North Carolina, acting through the North Carolina Department of Transportation (NCDOT), reached a major milestone on May 20, 2015 when financial close was achieved on the I-77 Express Lanes Project – the first highway public-private partnership in the state. The project, with a design and construction cost estimated at approximately $591 million, will add 26 miles of tolled, express lanes along the existing I-77 corridor in the Charlotte region. The financing package includes $100 million of private activity bonds and a $189 million TIFIA loan from the U.S. Department of ...
The American Road and Transportation Builders Association (ARTBA) has announced that it will hold its annual Public-Private Partnerships in Transportation Conference on July 15-17, 2015 at the Hyatt Regency Washington in Washington, DC. This year’s conference, entitled P3s in Transition: The Next Chapter, will again feature a P3 owners-only meeting and interactive sessions, including the continuation of the Great Debate series exploring whether unsolicited proposals add value to P3s.
ARTBA’s annual conference is the nation’s premier and longest-standing event for ...
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