Learning Module: Public-Private Partnerships (PPP or P3)
Transit agencies and local and regional governments have long used public-private partnerships (PPPs or P3s) for a variety of purposes, including leveraging funding to finance large capital projects and increasing operating efficiencies. According to the Federal Transit Administration, P3s “are essentially a form of procurement” rather than an innovative form of financing. The key element for P3s is that there is a single point of contact between the public agency and the private partner, and the private partner assumes a degree of both the scope and the risks of the project.