Overview
Industry leaders across the country have realized one viable way to assure requisite funds are available, is to allow local public agencies to take advantage of project delivery methods and private sector financing.
Parsons’ Public Facilities Privatization (PFP) group is structured to deliver facilities that meet the ever increasing need for public sector infrastructure.
Parsons’ PFP group is comprised of multi-discipline professionals who clearly understand the applicable legislation and financing capabilities to complete projects utilizing PPP delivery methods. We have a proven track record of planning, designing, constructing, developing and financing PPPs. By selecting Parsons, our public sector clients have access to this wealth of resources and expertise to deliver this critical infrastructure.
What is PPP?
A public private partnership (PPP) refers to a contractual agreement formed between a public agency and a private sector entity, for the delivery of public facility infrastructure.
The demand for all types of infrastructure is at an all time high. And, the need is not being met by relying on traditional contractual relationships between the public owners and the private entities delivering the infrastructure. Increasingly, public agencies are turning to the private sector for financing, design, construction and operation of these projects. This privatized delivery method offers the prospect of building less expensive, higher quality facilities in shorter periods of time than is currently possible through traditional management and funding.
PPP Benefits
- Shortened construction schedules
- Cost Savings - Lower construction costs
- Cost Savings - Lower lifecycyle costs
- Financial risk is shifted to the private sector
- Private capital availability
PPP Delivery Options
Plan • Design • Construct • Finance
A public entity contracts with a private sector partner to finance, design and build a facility in accordance with the requirements set by the public entity. The public entity assumes responsibility for operating and maintaining the facility upon completion of the project.
Plan • Design • Construct • Asset Management • Finance
A public entity contracts with a private sector partner to finance, design, build and manage the asset. Once the facility is complete, the title for this asset is transferred to the public owner, while the private sector manages the facility for a specified period.
Owner Financed Private Delivery
The public entity provides the financing. The private sector plans, designs and builds a new facility.
Project Types
There are many revenue-producing facilities that benefit from a privatized delivery method.
- Parking structures
- Student housing
- Workforce housing
- Student services facilities
- Medical facilities
- Renewable energy facilities
- Other public facilities
Clients
- Cities and counties
- Community colleges
- Universities
- K-12 schools
- Healthcare
- Public authorities
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