This article explores the anatomy of a public-private partnership in the context of major real estate projects entered into by a governmental body with a real estate developer or owner. The author has been involved in a number of public/private partnerships involving arenas and stadiums. Those facilities, among others, will serve as examples of how public/private partnerships are put together.
What is a Public-Private Partnership?
A public-private “partnership” can be defined as a governmental service or private business venture which is funded or carried out through a “partnership” of a governmental body or bodies and one or more private sector companies. These publicprivate partnerships are referred to in shorthand as “PPP, P3 or P3.” For purposes of this article we will use the term “P3.”
Originally published in Portland State University’s Real Estate Quarterly Report in Spring 2013.
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