Why P3 Procurements Flop

In the U.S. there have been a succession of projects that were originally conceived as DBFOM PPPs that have fallen back to a municipal finance model and more conventional design-build or design-bid-build delivery method. The most recent examples include Project Neon in Nevada, Phoenix Loop 202, the Knik Arm Crossing in Alaska, and the ARTI Project in California. In some of these cases the cost of capital advantage of municipal finance over the P3 was cited by public officials as an important factor driving this decision.


About Bill Reinhardt

Editor of Public Works Financing newsletter
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