The American Institute of Architects (AIA) today announced the publication of a white paper on the nation’s $3 trillion public infrastructure crisis and how public private partnerships (P3) offer a possible solution.
The AIA also announced that it was co-sponsoring with Governing Magazine the May 12 Summit on Infrastructure & Public Private Partnerships, a conference geared for state and local government officials tasked with updating their infrastructure, but who lack the means to do so.
“Building-Up: How States Utilize Public-Private Partnerships for Social & Vertical Infrastructure,” chronicles the public infrastructure crisis facing the United States and how states have found themselves facing sizeable budgetary shortfalls amid a stock of aging highways, public buildings and water distribution systems.
Through case studies, the white paper cites examples of innovative solutions used by the states and localities to combat this crisis while capitalizing on the P3 model for a variety of infrastructure needs. It includes a map highlighting a number of the current non-transportation P3s from around the country.
To help government optimize the value of P3 and its long-term quality implications, the AIA is co-sponsoring with Governing Magazine the May 12 Summit on Infrastructure & Public Private Partnerships (P3), a conference geared for state and local government officials tasked with updating their infrastructure.
A recent study by Governing Magazine found that half of all state and local leaders surveyed believe that a lack of infrastructure investment is their most significant financial problem. The summit will address the needs of local officials contemplating major infrastructure projects and who are trying to decide if a P3 is suitable for their jurisdictions.
Among the topics to be addressed:
- Evaluating, pricing and managing risk
- Defining clear project goals and cost projections
- Insights from industry experts on life-cycle cost considerations and private sector equity
- Case Studies - Public sector leaders who have implemented P3 will share lessons learned and tips for success
While P3 is a financing concept gaining popularity worldwide, it is under-utilized in the U.S., relative to other countries, according to Governing. The single biggest barrier is a lack of public-sector expertise in negotiating what can be complex, long-term agreements that assume risk on behalf of taxpayers. This Summit will share best practices, lessons learned and case studies that will help governments negotiate successful agreements and common pitfalls.
Related Stories
Industry Research | May 25, 2017
Project labor agreement mandates inflate cost of construction 13%
Ohio schools built under government-mandated project labor agreements (PLAs) cost 13.12 percent more than schools that were bid and constructed through fair and open competition.
Market Data | May 24, 2017
Design billings increasing entering height of construction season
All regions report positive business conditions.
Market Data | May 24, 2017
The top franchise companies in the construction pipeline
3 franchise companies comprise 65% of all rooms in the Total Pipeline.
Industry Research | May 24, 2017
These buildings paid the highest property taxes in 2016
Office buildings dominate the list, but a residential community climbed as high as number two on the list.
Market Data | May 16, 2017
Construction firms add 5,000 jobs in April
Unemployment down to 4.4%; Specialty trade jobs dip slightly.
Industry Research | May 4, 2017
How your AEC firm can go from the shortlist to winning new business
Here are four key lessons to help you close more business.
Engineers | May 3, 2017
At first buoyed by Trump election, U.S. engineers now less optimistic about markets, new survey shows
The first quarter 2017 (Q1/17) of ACEC’s Engineering Business Index (EBI) dipped slightly (0.5 points) to 66.0.
Market Data | May 2, 2017
Nonresidential Spending loses steam after strong start to year
Spending in the segment totaled $708.6 billion on a seasonally adjusted, annualized basis.
Market Data | May 1, 2017
Nonresidential Fixed Investment surges despite sluggish economic in first quarter
Real gross domestic product (GDP) expanded 0.7 percent on a seasonally adjusted annualized rate during the first three months of the year.
Industry Research | Apr 28, 2017
A/E Industry lacks planning, but still spending large on hiring
The average 200-person A/E Firm is spending $200,000 on hiring, and not budgeting at all.