disclosure and the us p3 market - marshall crawford, united states
Post on 09-Jan-2017
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Source: Harvard Kennedy School Review
The Backdrop to the U.S. P3 Experience
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• Infrastructure Decisions made at the state and local level. • Growing need to fix failing Infrastructure • Declining Historical revenue bases • Heavy concentration in 5 states and in Transportation • Vast majority are Greenfield transactions
Source: Harvard Kennedy School Review
The U.S. P3 Market is Quickly Gaining Momentum.
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“The U.S. has the potential to become the largest P3 market in the world given the sheer size of its infrastructure.” Moody’s – Sept. 2014
Transparency & Disclosure Drivers in Leading P3 States
Increase Confidence / Awareness of Government
Programs
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Increase Private Sector Involvement & Competition
Improve Efficiency
Prevent Corruption
Level Playing Field
Value for Money
Each state has a Freedom of Information Act in some form. They vary substantially in content and level of detail.
Stakeholder Engagement
State/Authority Undertake P3 Process
Legislative Body Reacts to Public Concerns
Study of What Should Have Been Done
New Laws or Regulations Enacted
State/Authority Practice Updated
Disclosure Laws are typically enacted at the state level.
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Often follow a reactive pattern of evolution
The Spectrum of Disclosure Practice
Simple List
Publish on web
Final RFP/Shortlist
Redacted Final
MINIMAL PRO-ACTIVE
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Extensive Project Description
Details including evaluations
RFP versions, Notes on bidder consultations
Final with limited redactions, Evaluation scores, some parts of financial model
Private Sector Participants • Growing appreciation for transparency • Prefer post bid disclosure • Role of stipends
Project Pipeline
RFQ
RFP
Contract
Evolution of Disclosure
CHECK THE BOX CONNECT THE DOTS
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Disclosure is key to public support for growth in P3s Public engagement is critical to effective implementation Higher volume states are:
• Increasing Public Outreach • Tailoring Programs to Specific Projects • Addressing Project Impacts.
TO
Active US states are moving from:
Basic Disclosure Interactive Public Engagement
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