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AGC-NM event to explore ways to grow ‘P3’ infrastructure projects

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Jul 17, 2013, 2:33pm MDT

Damon Scott

If public and private entities don’t find a way to work together, infrastructure projects aren’t likely to happen.

The projects are often referred to as P3s, since they usually involve one or more private companies along with a public entity. P3s are designed to allow public agencies, commercial firms and private investors to contractually share expertise and resources to meet public infrastructure and service demands in the face of limited financial resources.

P3s are the focus of an industry gathering in Albuquerque this week. The Associated General Contractors-New Mexico Building Branch is hosting a luncheon that will feature Mike Puelle, its director of public policy and government relations, as the speaker on the issue. Puelle said more than 30 states have adopted processes for reviewing and implementing P3 opportunities through legislation and he hopes New Mexico will be next. Puelle said while there are examples of such partnerships in New Mexico already, he wants the tool becomes a more prominent and predictable option for policymakers and communities, to further economic development.

“The exact nature of these tools varies as widely as the diverse circumstances they are employed to address,” Puelle told Albuquerque Business First. “The important factor is an efficient, objective and transparent process for review and implementation that emphasizes the partnership part more than all the tired old assumptions related to the traditional cookie cutter public versus private.”

Puelle’s presentation will address the economic benefits, local opportunities, legislative status and political challenges regarding P3s.

“We’ll have folks on hand to discuss the opportunities, as well as an overview of this past legislative session’s debate, and our hopes for the future,” he added.

The luncheon takes place July 24 from noon to 1 p.m. at the Crowne Plaza, located at 1901 University Blvd. NE. It is sponsored by AGC-NM and the Construction Financial Management Association.

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Taken from Albuquerque Business First: http://www.bizjournals.com/albuquerque/news/2013/07/17/agc-nm-event-p3-infrastructure-projects.html

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This entry was posted on July 17, 2013 by in News Articles and tagged , , , , , , , .
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