What entities can potentially be involved in a P3?
P3s in transportation involve contractual arrangements between a facility owner and one or more private sector businesses. The public partner is typically a state department of transportation, a local county or municipal public works department or a state chartered state or local toll road, bridge or transit authority that is the owner and operator of highway and transit facilities. In addition, there are certain public benefit authorities (joint power authorities, public benefit authorities) that are authorized by states to undertake transportation development projects using some or all of the P3 approaches. Federal law and program regulations established by the Federal Highway Administration and the Federal Transit Administration also impact the ability to utilize P3s on federal aid facilities through both their restrictions and supportive programs ( see FAQ 13). The private partners are professional service companies, contractors, and financial entities pursuing business with owner-
