We are continuing to look for opportunities improve our STEWARDSHIP of public funds as we as increase the RESOURCES used for Transportation. When used properly, Public-Private Partnerships offer us the DISCIPLINE of private sector competition through the use of their RESOURCES while assuring STEWARDSHIP. For it to work, it must be a Win-Win for all partners.
Workshop on Public-Private Partnerships (PPPs) Jim Ely Executive Director Florida’s Turnpike Enterprise Lowell Clary Assistant Secretary Finance and Administration
Overview Of PPP’s and Their Current Implementation in Transportation
A contractual agreement between public and private sector partners which allows more private sector participation than is traditional:
Private sector may design, construct, finance, operate, maintain, renovate and / or manage a facility or system
Public sector usually retains ownership of the facility or system
Sharing of roles, responsibilities, risks and rewards
Possibility of Private Sector equity
A new movie!!!
Purpose of Public Private Partnerships (“PPPs”) PUBLIC PRIVATE PARTNERSHIPS … have many forms and seek to provide the public sector with a variety of benefits PROMOTE Entrepreneurial Development CAPITALIZE Additional Sources of Private Equity and Flexible Corporate Debt Structures ACCELERATE High Priority Projects TRANSFER New Technologies and Engineering Techniques BENEFIT From Private Expertise and Specialized Management