Although the public-private partnership (P3) model was used to provide most public infrastructure and services until the early 20th Century, for the past several decades, P3s were few and far between in this country. Recently, three factors have contributed to a renewed interest in the public-private model: (1) aging infrastructure that needs to be replaced; (2) diminished public funds that cannot alone finance the needed improvements; and (3) growing P3 success stories throughout the world, particularly in Canada and Europe. However, in part due to the dearth of recent, local P3 experience, government agencies in the U.S. have opted for a toe-in-the-water approach to P3s.
Similarly, with the continued success of the Eagle light rail P3 in Denver, which opened for operations this summer, more and more state and local governments are now pursuing rail and transit P3s throughout the country. These projects include a P3 train station for PennDOT, a high-speed line connecting Dallas and Houston, and a plethora of potential light rail projects in Los Angeles County. Here in Miami, the Metropolitan Planning Organization recently adopted a plan to prioritize six major rapid-transit corridors throughout Miami-Dade County. Whereas mass-transit projects have in the past withered and died while awaiting for a sufficient allocation of public dollars, the P3 model could be employed to overcome budget shortfalls and move these important projects forward with haste.