Do the public agencies and private sectors each have a unique set of goals when entering into a P3 agreement?
Public agencies and the private sector have both shared and separate goals when entering into any partnership agreement. Public agencies are established to provide standardized public services and facilities based on established and agreed-upon public objectives – making the most efficient use of public resources in an equitable manner with a strong emphasis on stable baseline level of service. At the same time, staff and budgetary resources are often fixed and public regulations inhibit rapid innovation or technology upgrades. P3s in their various forms (see FAQ 3) allow public agencies the flexibility to minimize these constraints while still achieving their public objectives Private businesses are established to provide an attractive return on company resources by providing needed services to clients and by making strategic investment decisions. P3s can offer them opportunities to improve profitability and expand markets. New forms of P3 can synergize on both public and private obje
