Public-Private Partnership (PPP)
The identification and acquisition of scarce federal capital resources is becoming a difficult task. Therefore, it is becoming increasingly necessary to develop a public-private partnership (PPP) approach to projects. This technique requires a combination of efforts at the federal, state and local levels of government along with the private sector. At the same time, new and innovative financing methods are needed to bridge the gap between the availability of public funds and the total cost of the project.
Miller/Wenhold is a leader in the PPP field, serving on the Board of the National Council of Public Private Partnerships (NCPPP). Partner Ken Butler serves as the Chairman, and is often asked to travel nationwide to make presentations on PPPs to state and local officials. Previously, he co-sponsored the development of the Transportation Institute within the NCPPP to bring specific attention to transportation related public-private partnership opportunities. The Institute works through legislative means and educational programs to enhance the use of PPPs and to remove real and perceived barriers that prevent PPPs from developing. Mr. Butler was elected as the Transportation Instituteâ€™s first Chairman in 2004.
Miller/Wenhold's heavy involvement in the legislative process and the activities of the NCPPP allows us to provide our clients with up-to-date knowledge of all requirements necessary for a project to be approved. We provide the following services to enable our clients to meet the challenges of pursuing a PPP:
- Extensive contacts with funding sources in North America that could be utilized to finance an appropriate PPP project;
- Identification of appropriate requirements necessary to qualify as a PPP and become eligible to receive state and/or local support;
- Knowledge to form a consortium in any selected market that could best win the proposed project;
- Ability to identify innovative financing sources, joint development or other PPP techniques to increase funding dedicated to the project; and
- Preparation of political strategy to advance the proposal of the consortium.