The New York State Department of Transportation (DOT) has published a summary of its March symposium on public-private partnerships, jointly sponsored by the University Transportation Research Center at the City College of New York.
The summary, titled "Partnerships for New York--Innovative Transportation Financing and Contracting Strategies: Opportunities for New York State," is a summary of the symposium that helped inform New York state legislators and transportation stakeholders about the importance of using innovative financing and contracting to build, operate and maintain large-scale infrastructure projects and assets.
Those making presentations included the state Department of Transportation; the New York State Thruway Authority, the New York State Assembly and Senate; the U.S. Department of Transportation; Parsons Brinckerhoff; Mayer, Brown, Rowe & Maw LLP; the Fiscal Policy Institute; the Metropolitan Transportation Authority; the Virginia DOT; Macquarie Securities (USA) Inc.; the Regional Plan Association; Fluor Enterprises Inc.; and the University Transportation Research Center.
Presentations involved policy issues associated with public-private partnerships, labor, finance and contract considerations for partnership agreements. They also illustrated the "P3" process with real-life examples. The New York DOT reported that speakers seemed to agree public-private partnerships can meet transportation needs when projects are well selected and when contracts with the private sector contain appropriate provisions to protect the public interest.
To obtain a copy of the summary, visit the "proceedings" toolbar found on the New York State DOT website, www.nysdot.gov/portal/page/portal/main/partnerships.