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Literary sources regarding public—private partnerships (PPPs) often mention the importance of conducting a value for money (VfM) analysis to determine the value of pursuing a project through a PPP versus a traditional procurement; however, few sources detail how agencies actually use this...
Many policymakers, operators and developers of public infrastructure (such as highways, airports, water utilities), and academics believe that there is a funding deficit for US infrastructure. Traditional funding sources, such as fuel taxes, are widely deemed inadequate and unlikely to be...
The use of tax increment finance (TIF) arrangements to finance capital-intensive infrastructure needs is not a new concept, but it is gaining traction in many states and municipalities. This article presents the case of the Town Center project in Virginia Beach, Virginia, and the use of a TIF to...
This article provides eight rules for government concerning the administration of public—private partnerships (P3s). The basis for these rules draws on transaction cost economics. First, however, the article provides some background on alternative modes for the provision of infrastructure and...
Governments have increasingly relied on market mechanisms to improve the efficiency of public services. This is especially true when it comes to financing the nation's transportation infrastructure system, where enabling legislation at the federal and state level has gradually placed greater...
Lack of cash has led virtually every U.S. state to explore innovative finance techniques that allow important improvement projects to move forward. Recent long-term concession agreements have inspired a debate over the merits and pitfalls of public—private partnerships (PPPs), particularly...
Public—private partnerships (P3) have emerged as a popular strategy for infrastructure development worldwide. Within the United States, the momentum for P3 arrangements is building as states put enabling legislation in place, public authorities search for expedient solutions for the...
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