Development PPPs have the power to develop or redevelop an area or site, often blighted or underused, within a community. The partnership may be proactively initiated by a municipality to achieve key public objectives, such as downtown revitalization, affordable housing, industrial and commercial development, transit-oriented development, or neighborhood services. The municipality may have public land to include in a project or may be seeking to repurpose a surplus public facility for private use and return it to the tax rolls. A development PPP may also be initiated when a developer envisions a project but cannot realize that vision without the help of the host municipality. At EAJ we work with our municipality partners to maximize the public space within a fixed budget ensuring maximum value for taxpayers and a greater sense of community.
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The EAJ Advantage
We believe in the important function public-private partnerships serve in filling the void between typical annual government accounting and capital budgeting. The private markets know the benefits of capital budgeting and are investing heavily in U.S. capital infrastructure. We believe those who support the advancement of PPPs highlight many advantages. Our values and vertically integrated structure line up with the government agency’s requirements and here are some reasons why our government partners can rely on us. PPPs allow the costs of investment to be spread over the lifetime of the asset and, therefore, allow infrastructure projects to be brought forward in years compared to the pay-as-you-go financing that is typical of many infrastructure projects. Our company structure is shaped with this in mind. PPPs also have a solid track record of on-time, on-budget delivery. PPPs transfer certain risks to the private sector and provide incentives for assets to be properly maintained, which our proven track record shows we can manage. This allows PPPs to lower the cost of infrastructure to the public entity by reducing both construction costs and overall life-cycle costs. Our know-how and industry expertise effectuates this. Also, since satisfaction metrics can be built into the contract, PPPs encourage a strong customer service orientation – we’re positioned to maximize this as well. And lastly because the destination, not the path, becomes the organising theme around which a project is built, PPPs enable the private sector to focus on the outcome-based public value they are trying to create.
