Beyond toll roads: Local governments find uses for P3s

    The biggest news in the world of public-private partnerships (P3s) last year had nothing to do with toll roads—the most visible way governments partner with companies, Governing reports.

    Instead, the most expensive deals were projects to build a car-rental facility and a small tram at Los Angeles International Airport.

    Other significant P3s struck last year centered around student housing at Purdue University, a courthouse in Maryland and a replacement for a 155-year-old prison in Kansas, according to Inframation, a news and analysis service.

    The only highway P3 in the mix last year didn’t even involve toll roads. The Michigan transportation department turned to a private consortium to design, build, finance and maintain a 5.5-mile stretch of Interstate 75 just outside of Detroit.  

    The wide variety of projects shows that once-controversial P3s are gaining acceptance in more quarters. The P3 field is changing in other ways, too, as a proliferation of deals with universities, airports and highways has led both investors and government agencies to reconsider their approaches. Read the full story.

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