Construction and Energy Law: Act May Hold Answer To Crumbling InfrastructureMarch 5, 2012
Synopsis of article:
The financing of large-scale public construction projects through partnership with private entities first emerged in the United States back in the 1990s. So-called public-private partnerships or “P3” projects have met with a measure of success across the United States. Only a handful of states in this country are without any form of legislation authorizing P3 projects for state infrastructure. Our neighbor to the north, Massachusetts, has a broad enabling statute for P3 transportation projects that has been in place since 2009. To our west, New York lawmakers have been clamoring for a law to allow public-private partnerships to help finance and construct highway infrastructure projects, and New York Gov. Andrew Cuomo has an ambitious P3 plan that involves billions of dollars in bridge and highway infrastructure advancement. Connecticut has only just begun to dabble in the P3 realm.
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