This study will evaluate public private partnerships and their potential role in financing state transportation projects. The study will focus on five state high way and bridge projects. Its purpose is to educate legislators and others about P3s, to identify the public interest in transportation projects and barriers to implementing P3s in Washington, to develop P3 screening tools and financial models, and to develop a conceptual implementation plan for the State. The study will be overseen by a Policy Workgroup composed of legislators, the State Treasurer, and representatives from WSDOT, the Transportation Commission, the construction trades, and an organization representing general contractors. A Staff Workgroup will provide support.
Budget: $399,944
Consultant: AECOM, KPMG and Nossaman
Schedule: Consultant began work July 1; study to be completed December 16.
JTC Staff: Mary Fleckenstein lead; Gene Baxstrom, back-up
HTC and STC Staff: Beth Redfield, Kelly Simpson and Kim Johnson
Past Meetings & Materials:
Presentation to JTC Meeting on December 7, 2011:
P3 Final Presentation
P3 Policy Workgroup Meeting
December 6, 2011 (10:00 am - 4:00 pm)
Olympia, John A. Cherberg Building
Room: ABC
Agenda
Discussion Materials
DRAFT Financial Results
Financial Model Inputs
P3 Policy Workgroup Meeting
October 24, 2011
(10:00 am - 4:00 pm)
Olympia, John A. Cherberg Building
Room: ABC
Discussion Materials, Agenda & Table Top Exercise
Draft Screening Tool - Columbia River Crossing
Draft Screening Tool - I405
Draft Screening Tool - Monroe Bypass
Draft Screening Tool - SR 167
Draft Screening Tool - SR 509
P3 Policy Workgroup Meeting
September 29, 2011 (9:00 am - 4:00 pm)
Olympia, John A. Cherberg Building
Room: ABC
Agenda
Discussion Materials
Financial Analysis and Modeling Overview
DRAFT Screening Tool
P3 2-Day Workshop
August 2 (10:00 am - 4:00 pm)
and
August 3 (10:00 am-3:00 pm)
Highline Community College - Building 8 (Student Union)
Mount Constance Room
Directions to Highline Community College
Agenda
Day 1 Presentation - AECOM, KPMG & Nossaman
Day 2 Presentation - AECOM, KPMG & Nossaman
WSDOT Connecting Washington - Paula Hammond
WSDOT Projects for Evaluation - Rick Smith
I-405/SR 167 Project Information Summary
SR 167 Extension Project Information Summary
US 2 Monroe Bypass Project Information Summary
SR 509 Project Information Summary
Columbia River Crossing Project Information Summary
Presentation to JTC Meeting on July 13, 2011:
P3 Presentation
Staff Workgroup Meetings:
November 9, 2011 (11:00 am - 4:00 pm)
JTC Conference Room - 3309 Capitol Blvd. SW Olympia
Discussion Materials
Financial Model Inputs
October 13, 2011
Agenda
Discussion Materials
Draft Screening Tool
September 15 & 16, 2011
Agendas
Presentation
Financial Modeling
Reference Materials:
This 106-page handbook provides guidance, counsel and a compilation of best practices to assist state legislators as they consider whether and how to pursue PPPs.
In this 38-page report, the Pew Center on the States analyzed the debate in Pennsylvania in 2008 about leasing its turnpike. The report outlines the key questions policymakers should consider
in leasing an infrastructure asset, and six lessons states can learn from the Pennsylvania experience.
GAO report on Highway Public-Private Partnerships: More Rigorous Up-Front Analysis Could Better Secure Potential Benefits and Protect the Public Interest (GAO-08-44)
In February, 2008, the General Accounting Office (GAO) released this 90 page report
that reviewed:
(1) the benefits, costs and trade-offs of highway P3s; (2) how public officials have identified and acted to protect the public interest in these arrangements; and (3) the federal role in highway P3s and potential changes in this role.
http://www.gao.gov/new.items/d0844.pdf
A 10-page summary of that report is found at this link:
http://www.gao.gov/new.items/d081149r.pdf.
The key findings:
P3s can provide benefits, but also entail costs, risk and trade-offs; and P3s have sought to protect public interest, but the use of public interest criteria is mixed in the US.
Public Sector Decision Making for Public-Private Partnerships
A Synthesis of Highway Practice from the Transportation Research Board, NCHRP Synthesis 391 (2009)
http://onlinepubs.trb.org/onlinepubs/nchrp/nchrp_syn_391.pdf
This 139-page report examines current information that is available to properly evaluate the benefits and risks of allowing the private sector to play a greater role in financing and developing
highway infrastructure. Information is divided into three major categories: project selection and delivery, transparency, and terms of P3 agreements.
Conclusions are listed on p. 39-41, and address three major themes: how governments decide whether or not to pursue a P3; how the public interest is protected; and how misperceptions
about P3s can distract from the real issues
This study will evaluate public private partnerships and their potential role in financing state transportation projects. The study will focus on five state high way and bridge projects. Its purpose is to educate legislators and others about P3s, to identify the public interest in transportation projects and barriers to implementing P3s in Washington, to develop P3 screening tools and financial models, and to develop a conceptual implementation plan for the State. The study will be overseen by a Policy Workgroup composed of legislators, the State Treasurer, and representatives from WSDOT, the Transportation Commission, the construction trades, and an organization representing general contractors. A Staff Workgroup will provide support.
Budget: $399,944
Consultant: AECOM, KPMG and Nossaman
Schedule: Consultant began work July 1; study to be completed December 16.
JTC Staff: Mary Fleckenstein lead; Gene Baxstrom, back-up
HTC and STC Staff: Beth Redfield, Kelly Simpson and Kim Johnson