Public-Private Partnerships (P3s): Types of Public-Private Partnerships (P3s)
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2017-01-01
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Abstract:The use of Public–Private Partnerships (P3s) marks a shift away from traditional ways of procuring and financing highway projects. Under traditional procurement processes, private contractors construct projects based on a public design by using public funding. The projects are then operated and maintained by public agencies. With the P3 model, a private partner may participate in some combination of design, construction, financing, operations, and maintenance, including the collection of toll revenues (see table).
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