Public-Private Partnerships (P3s): Key Considerations in Implementing a Public-Private Partnerships (P3) Program

Federal Highway Administration2017PDFBriefUnited States. Federal Highway Administration. Office of Innovative Program DeliveryDeCorla-Souza, Patrick T.Sullivan, M.United States. Federal Highway Administration. Office of Innovative Program DeliveryUnited StatesPublic private partnershipsInfrastructureGovernment agenciesPublic\u2013Private Partnerships (P3s) are contractual agreements between a public agency and a private entity that allow for greater private participation in the delivery of transportation projects. Typically, this participation involves the private sector taking on additional project risks, such as design, construction, finance, long-term operation, and traffic revenue. At present, there are more than 40 current or anticipated P3 projects involving private financing in the U.S. portfolio. Generally, the value of each of these P3s ranges from a few hundred million dollars to a few billion dollars.109