PUBLIC PRIVATE PARTNERSHIPS
A public sponsor owning land or property suitable for adaptive re-use awards exclusive rights to real estate and special-use development typically through a two-step process: request for qualifications (RFQ’s) and request for proposals (RFP’s). Sole-sourced awards are rare. Public private partnerships often present high levels of complexity, challenging barriers to entry and intense competition, as well as significant pursuit costs borne by the respondent. What makes them attractive is the potential to realize value that can significantly exceed conventional private transactions. It is not uncommon for the public sector to make certain investments or other commitments (i.e. infrastructure via tax increment financing, structured parking, land banking) where it is not financially feasible for a private developer to do so.
Public Sponsors and Clients & Employers Active in Public Private Partnerships have included:
- US General Services Administration
- Port Authority of NY & NJ
- Empire State Development Corporation
- New York State
- New Jersey Transit
- District of Columbia
- City of Baltimore
- Government of San Juan, Puerto Rico
- Talisker Corporation, Toronto, Canada
- The US Navy
- Forest City Enterprises
- Vornado Realty Trust
- LCOR Incorporated
- Offices of Planning & Economic Development
- Local Redevelopment Authorities
Consulting Services and Responsibilities:
- Identifying and screening potential opportunities
- Assembling, managing and directing consultant teams and strategic partnerships
- Organizing, authoring and presenting responses to RFP’s
- Managing public sponsor relationships
- Structuring, negotiating, documenting and closing transactions