We are honored to have been included in the recent issue of The Illinois Municipal Policy Journal, a collaboration of the Illinois Municipal League, the School of Public Service, and the Chaddick Institute at DePaul University. The Journal has included our study and theoretical cost comparison in it’s most recent volume. The goal of the publication is to provide municipal and state leaders in particular with research, best practices, and recommendations related to key issues such as capital budgeting, shared services, home rule, and retail construction trends, among others.
Our study compares three “P3 approaches” for developing social infrastructure, such as municipal buildings, public university facilities and courthouses. It illustrates why officials should consider each approach to fully understand their financial options. The results are particularly important to understanding the benefits of an “American Approach P3,” which involves tax-exempt bonds issued by a not-for-profit organization; this allows the project to be undertaken by a development team outside of the traditional public-works process, while also allowing short-term operations and maintenance contracts to be competitively bid after completion.
You can find a PDF of our article here: Understanding Public-Private Partnerships (P3) Through a Theoretical Cost Comparison
You can find a PDF of the entire Issue here: Illinois Municipal Policy Journal, Volume 2; Issue 1