Anatomy of a Public-Private Partnership
Lane Powell Shareholder Mike Silvey authored an article in Portland State University’s Real Estate Quarterly Report titled “Anatomy of a Public-Private Partnership.” In the article, Silvey discusses public-private partnerships (“P3s”) in the context of major real estate projects entered into by a governmental body with a real estate developer or owner. He also discussed the success that Portland has seen through the use of P3s.
There have been many successes in the City of Portland and elsewhere using P3s. The Rose Garden, the Pearl District, South Waterfront, the expansion of Civic Stadium, now JELD-WEN Field, and possibly the Convention Center Hotel. In Portland, some of the P3s were initiated by PDC using tax increment funds which are now expiring. The Rose Garden was constructed without the use of tax increment funds so it is possible to finance P3s without that source of funds. The Convention Center Hotel is now working on a financing plan which seeks to reduce the amount of public dollars involved.
Read the article.