Public Private Partnerships

A government service or private business venture that is funded and operated through a partnership of government and one or more private-sector companies. A P3 concession is an alternative way for a public agency to deliver a public-purpose project. A P3 concession has three primary elements: a concession goal, a compensation structure, and a term or length of time. Each element is established by the public agency that implements the P3 concession, sometimes in negotiation with the private partner.

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