• Preliminary Development Agreement: An Innovative Method of Streamlining P3 Procurements in Social Infrastructure
  • May 2, 2014 | Author: Frank M. Rapoport
  • Law Firms: Peckar & Abramson A Professional Corporation - Miami Office ; Peckar & Abramson A Professional Corporation - New York Office
  • Within the last decade, Public-Private Partnerships (P3s) have played an increasingly crucial role in the construction and renovation of transportation and utility infrastructure. On the other hand, P3s have not been as popular a procurement method for social infrastructure projects such as hospitals, civic buildings, courthouses, police departments, wastewater treatment facilities, libraries, parking lots and schools. As many have already realized, that is about to change due in large part to the necessity of these projects and a lack of available funding. As such, state and local governments are now turning to P3s to finance vital social infrastructure projects across the country.