The P3 Bulletin has published Model Behavior, an article by John Finke addressing the differences in P3 Models, particularly the difference between the conventional International Model, otherwise known as Design Build Finance Operate Maintain (DBFOM) and the American Model or Tax-exempt Model.
*Note:
Since this article has been published it is important to note that we have added an important component to the American Model which allows for the Public Agency to replace the board members of the nonprofit entity specifically created to issue bonds and own the project during construction and until the bonds have been retired. This grants the Public Agency additional control in case any unforeseen issues arise during the management of the project while the debt is still active.
