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To learn more about the four steps to a successful P3, download the full report: http://bit.ly/1j76nsq From universities to transit authorities to cultural institutions, public-sector organizations are discovering the tremendous value to be gained from executing a successful public/private partnership (P3). P3s not only help fix budget issues, but can provide in-depth real estate knowledge and creativity to help government and not-for-profit groups overcome obstacles.
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Four steps to P3 success
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Four steps to P3 success
More and more public entities are discovering the tremendous
value to be gained from executing a successful public/private
partnership (P3).
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Four steps to P3 success
A P3 can help provide capital resources to enable an important development, but the value of a P3 goes far beyond simply fixing a budget. Think of a P3 as a project-delivery method rather than simply a funding mechanism.
Private developers provide in-depth real estate knowledge and creativity to help government and not-for-profit groups overcome obstacles, creating a winning scenario for everyone concerned.
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Identify a feasible project
When should a public-sector entity consider a P3?
In general, partnerships are ideal for large or complex
projects where the government or institution controls
land or property that can be developed with some form
of income stream in mind. 1
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Set up an appropriate procurement
2 A P3 project needs to meet your expectations as well
as developers. They will be interested in the following:
- Return on expectations - Cost impacts - Timing/control - Risk
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Characteristics of selecting a key partner
3 Although private-sector proposals tend to focus on
maximizing return while minimizing risk, an experienced
private developer should understand the differences of
what matters to government agencies and demonstrate
how their proposal furthers the mission/task/goals of the
public entity.
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Long-term asset management
After the bid process is complete, most of the heavy
lifting is still ahead. The development phase is the
next hurdle, followed by a long-term plan for managing
the asset to serve the needs of all partners. 4
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Experience ensures success
Your odds of success with a P3 delivery structure
increase with experience.
JLL has experience partnering with public institutions as well as developers and can help drive a successful and mutually beneficial P3 project.
COPYRIGHT © JONES LANG LASALLE IP, INC. 2014
Want to learn more about
successful P3s?
Click here to read our full paper
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Barry Scribner: [email protected]
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