Bus

Experts talk financing projects via P3s at APTA

Posted on October 1, 2013

Monday’s “Financing New Projects in the U.S.” panel featured (from left to right): the FRA’s Karen Hedlund; Sherry Little of Spartan Solutions; Blackhill Partners’ Greg Moore; Adam Giuliano of Freshfields Bruckhaus Deringer and Mayer Brown’s David Narefsky.
Monday’s “Financing New Projects in the U.S.” panel featured (from left to right): the FRA’s Karen Hedlund; Sherry Little of Spartan Solutions; Blackhill Partners’ Greg Moore; Adam Giuliano of Freshfields Bruckhaus Deringer and Mayer Brown’s David Narefsky.
“If you’ve seen one public-private partnership (P3), you’ve seen one public-private partnership,” was a recurring theme in the “Financing New Projects in the U.S.” session. This concept, echoed by more than one presenter, acknowledged the fact that these partnerships are all so different.

According to Sherry Little, partner and co-founder of Spartan Solutions, the most successful P3 projects were those where the public sector allowed the private sector to innovate. Other lessons learned from P3s, she said, were the emphasis of State of Good Repair projects, which made good candidates for P3 partnerships, as well as the importance of incentives in the process. Little referenced a particular project where the incentive was providing a stipend to public transit. She says incentives help defray costs and show the industry public transit is serious about delivering projects via P3s.

David Narefsky, partner, Mayer Brown, touted examples of transit projects in Canada, such as Vancouver’s Canada Line, where the use of P3s has “more traction and maturity.” He said that sometimes when you are developing projects in the U.S., “you have the feeling you are reinventing the wheel.”

According to Blackhill Partners’ Greg Moore, the first optimum model of a P3 was the Transcontinental Railroad.

“It is in the strategic interest of the government to get these projects built,” he said.

He also discussed ways the government can infuse value in projects by accelerating permitting and providing low-cost access to rights-of-way; low-cost, long-term financing; and significant in-kind equity.

Adam Giuliano, sr. associate, Freshfields Bruckhaus Deringer, focused on the importance of the procurement stage, risk allocation, payments and the ability to refinance projects.

View comments or post a comment on this story. (0 Comments)

More News

Registration now open for relationship-building event, TBX 2019

Senior-level transit and paratransit employees who qualify will receive a full grant to attend that includes travel and education.

RIPTA leases 3 Proterra electric buses using VW funding

Represents one of the first deployments to use funding from the Volkswagen AG diesel-emissions settlement.

Alexander Dennis lands Berlin double-decker bus contract

The Enviro500 for Berlin will be approximately 45 feet long with three doors, two staircases, and 80 seats.

New Flyer signs electrification accord to accelerate U.S. tech adoption

Outlines how transportation electrification can be advanced to benefit utility customers and all forms of transportation.

MCI's Maitland discusses new J3500, innovation at BusCon 2018

The company's VP, marketing and product planning, tells METRO's James Blue about MCI's new coach, as well as its committment to innovation.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation