ÎÚÑ»´«Ã½

MAP-21, the surface transportation reauthorization legislation included a provision directing the US Department of Transportation to standard transaction model contracts for Public Private Partnerships (P3s) that could serve as a base template to guide States and other public transportation providers in developing their own P3 contracts, including model documents for development, financing, construction, and operation of transportation facilities. ÎÚÑ»´«Ã½ was invited by FHWA to participate in a Listening Session on February 16 to provide industry input as to what should be included in these model documents. ÎÚÑ»´«Ã½, and most of the participants, suggested that the documents should provide as much flexibility as possible to states in using PPPs and should not be drafted in a way that would discourage the private sector from participating. ÎÚÑ»´«Ã½ suggested that the documents should be educational in nature and should address appropriate risk allocation. ÎÚÑ»´«Ã½ also suggested that the construction contractors role in a PPP arrangement should also be addressed both from an equity partner point of view and in a design-build arrangement. ÎÚÑ»´«Ã½ will continue to participate as FHWA develops these model documents.