A public—private partnership PPP , 3P , or P3 is a cooperative arrangement between two or more public and private sectors , typically of a long-term nature. PPPs are closely related to concepts such as privatization and the contracting out of government services. There is no consensus about how to define a PPP. The term "public-private partnership" is prey to thinking in parts rather than the whole of the partnership, which makes it difficult to pin down a universally accepted definition of PPPs.
This project was added to the agenda because federal agencies have increasingly turned to public-private partnerships P3s to accomplish goals. Budget pressures are likely to further increase the use of P3s. Making the full costs of such partnerships transparent would be the overall objective of the project. Active work on this project would begin in FY with final standards or guidance expected following a two to three year effort.. As a follow-up to the October Board meeting, staff added language to the Public-Private Partnership P3 standards to provide preparers with conditions to consider when assessing the expected life of a P3.
That publication set forth core principles essential for successful accomplishment of joint development by the public and private sectors, benefiting both, that neither could achieve independently. Those ten principles remain as applicable today as they were then, but the challenges facing urban development have changed dramatically. The purpose of this publication is to build on the Ten Principles to provide public and private sector representatives with an understanding of both the necessity for, and the obstacles and opportunities inherent in, PPPs and a toolkit of best practices for the creation of effective PPPs. It is intended to be applicable to a broad range of communities, not just large cities or other jurisdictions undertaking news-making projects.
San Francisco, CA — A first-of-its-kind report released today outlines principles for utilizing public-private partnerships to build high-speed rail in California. In addition to outlining the promise and pitfalls, the report recommends ten principles to protect taxpayers and the public interest under private financing deals. The report comes at a time when California is preparing to start laying the first tracks for high-speed rail in , and Congress and state officials are debating future funding.