Leveraging Private Capital for Infrastructure Renewal (2019) / Chapter Skim
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Pages 36-39
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From page 36... ...
36 C H A P T E R 5 To further study the perspectives of public-sector managers and procurement officers on their approach to using private-sector equity and P3s, the research team conducted a series of interviews with transportation infrastructure P3 offices and departments. Fifteen agencies were invited to participate in interviews.
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Public Sponsor Perspectives on the Use of Private Equity and Optimal Contract Mechanisms 37 Two states (Florida and Pennsylvania) included a requirement for some form of an evaluation by the department before procuring a project as a P3, although the specific evaluation process was not specified in the legislation.
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38 Leveraging Private Capital for Infrastructure Renewal bidder proposals. Instead, all of the offices evaluated projects and proposals based on total costs to the taxpayer, either in terms of construction costs or, for revenue risk P3 projects, in toll revenues collected by the SPV.
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From page 39... ...
Public Sponsor Perspectives on the Use of Private Equity and Optimal Contract Mechanisms 39 5.5 Private-Equity Return Limitations and Issues The agencies interviewed used several different tools to limit the potential for outsized equity returns or to share risk with P3 developers. These could generally be categorized as either ERS mechanisms or as gainsharing mechanisms in financial restructuring.
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