Miami-Dade Keeping up with National P3 Trends

As discussed in our last post about national and local developments in public-private partnership (P3) legislation, Florida is keeping up with the P3 trend and Miami-Dade County is not far behind. Miami-Dade’s Citizens Independent Transportation Trust (CITT) has expressed support for exploring P3s as an option for providing much needed transportation solutions to the County. We recognized the impact that using a P3 could have for bringing the Baylink transit system to fruition, and it seems that the CITT has as well.

As a growing city with extensive transportation needs, it should not be hard for Miami to court private investment for such transportation projects. Whether it’s to travel to the beach or to watch a show Downtown, expanded public transportation could offer an alternative that would be difficult for residents and visitors to overlook.

Encouraging the use of P3s in Miami can allow for Miami to be the beneficiary of the latest, most state-of-the-art technologies, adding to its appeal as a tourist attraction. These new technologies can not only cement Miami’s place among other world-class cities that have extensive transportation systems, but also foster an environment that champions progress and innovation. P3s can serve to alleviate the budget constraints that would otherwise prevent the transformation of Miami and enable the pursuit of projects that are not only needed, but greatly desired.

 

Topics:  Infrastructure, P3s, Public Transit, Public-Private Partnerships

Published In: General Business Updates, Finance & Banking Updates, Government Contracting Updates, Commercial Real Estate Updates, Transportation Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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