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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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.
Value Capture Strategies and Public-Private PartnershipsMembers only 
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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 FutureMembers only Login
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.
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