
Phil Schwab
Articles by Phil Schwab
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P3s offer financial and design flexibility
Tuesday, December 03, 2013A public-private partnership (P3) is a contractual agreement between a public agency and private-sector entity to deliver a public service or facility with the use of private financing. Because of the uncertainty and inconsistency of public funding, P3 projects offer the ability to accelerate project delivery, reduce project costs and allow users to realize the project benefits years earlier than conventional "pay as you go" project deliveries.