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P3 Doesn't Mean Free: Innovative Financing for Major Infrastructure Projects

Explore the benefits and challenges of public-private partnerships in infrastructure projects with experts from the Illinois Department of Transportation, Amtrak, CDM Smith, and Cambridge Systematics. Gain insights on risk transfer, access to capital, service standards, and more.

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P3 Doesn't Mean Free: Innovative Financing for Major Infrastructure Projects

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  1. P3 Doesn't Mean Free: Innovative Financing for Major Infrastructure Projects Panelists: Erin Aleman, Illinois Department of Transportation Rina Cutler, Amtrak Jonathon Hart, CDM Smith Panel Moderator: Elaine McKenzie, Cambridge Systematics

  2. People are always looking for the single magic bullet that will totally change everything. There is no single magic bullet. - Temple Grandin

  3. P3 Enabling Legislation Source: National Council for Public-Private Partnership

  4. Why Pursue a Public-Private Partnership? Public private • Transfer Risk • Access to Capital • Innovative Delivery Methods • Assurance of Service Standards • Access To External Resources • Lower Lifecycle Cost • Profit

  5. Maximizing Chances of Success Select The Right Projects Retain Expertise Have A Common Playbook Ensure Proper Valuation Have Political Support

  6. The Process PROCESS Create Shortlist One-on-One Meetings SelectProjectStructure IssueRFQ IssueDraft RFP (RFI) May2016 November 2016 August2016 (Dec’16–May‘17) • Determinewhichprivatesectorconsortiaare interested • Receive marketfeedbackonkeyprojectterms JYNIHAN RAINHALL TIM E Receive SelectBest ValueProposer May2017 Due Diligence (60 days) Commercial Close Q42017 ReceiveBids April2017 Financial Close Conceptual Plans

  7. CONCEPTUALRENDERINGS ONCE YOU’VE DONE ONE P3 DEAL, YOU’VE DONE ONE P3 DEAL. LESSONS LEARNED

  8. Defining Success: Metrics/Values

  9. P3 in Illinois

  10. The Good Performance and Financial Benefits  On-time, On-budget Project Delivery Technical Innovation Private Sector Efficiencies Investment of Private Capital

  11. The Bad

  12. The Ugly 1. RFQ 2. RFP • Tollway ROFR • GA Approval Selection • Public-Private Agreements for the South Suburban Airport Act (620 ILCS 75/) • Public Private Agreements for the IllianaExpressway Act (605 ILCS 130/) • Public Private Partnerships For Transportation Act (630 ILCS 5/)

  13. Now it’s your turn…What do you want to know?

  14. P3 Doesn't Mean Free: Innovative Financing for Major Infrastructure Projects Panelists: Erin Aleman, Illinois Department of Transportation Rina Cutler, Amtrak Jonathon Hart, CDM Smith Panel Moderator: Elaine McKenzie, Cambridge Systematics

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