Public-Sector Decision Making for Public-Private Partnerships (2009) / Chapter Skim
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Pages 6-9
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From page 6... ...
Build-Own-Operate and Asset Sales represent full privatization of public-use assets, and the FHWA PPP Guidebook reports that "these contracts are perceived as not in the public interest," because the public sector relinquishes control over how the asset is maintained and priced. The Chicago Skyway and Indiana Toll Road deals are sometimes referred to as "asset sales," but this is incorrect -- in reality, they were "long-term lease agreements." The survey of state PPPs enabling legislation (prepared by Nossaman, Guthner, Knox, & Elliott, LLP for FHWA)
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From page 7... ...
The public sector retains financial risk, and compensation to the private partner can be in the form of availability payments. Design-Build-Finance (DBF)
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From page 8... ...
Some of the early PPPs for development of toll roads in the 1990s, such as the Pocahontas Parkway in Virginia and the Southern Connector in South Carolina, included the creation of 63-20 non-profit corporations to issue debt. California enacted PPP legislation in 1989, allowing for four pilot PPP projects.
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From page 9... ...
PUBLIC–PRIVATE PARTNERSHIPS PARTICIPANTS A PPP in transportation consists of several participants that come together to deliver a specific project, including: • Public sector decision makers (i.e., members of the legislature) ; 10 • State or public toll authority (project sponsor)
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