Industry Perspectives Op-Ed: Companies of every size can participate in upcoming public-private partnership engagements - constructconnect.com

Public-private partnership engagements are continually becoming more common because of two basic reasons.

All P3 engagements include an investment of private sector capital. The revenue may not cover the entire project cost, but that is often the case. Federal funding for large projects often requires a public entity to seek private sector investors willing to invest along with the federal government. Examples of upcoming P3 projects to be launched soon follow. The examples demonstrate the various types and sizes of P3 engagement opportunities that are available now.

The original 163,400-square-foot building has deferred maintenance needs and is overdue for upgrades. Since the building is owned by the state, the Department of Administration will oversee the project. This effort is moving quickly, and solicitation documents could be issued late in 2023, but definitely by early 2024. Plans outlined indicate the preferred revenue model for payback of the capital investment will be a lease contract with the private sector partner.

Revenue from that effort will offset some of the cost of construction, operation and maintenance of the stadium. Planning documents indicate the new stadium will be operational by 2028. A $66 million project to construct a hotel and convention center is planned for Seguin, Texas. The feasibility study validated the economic results, recommended the project, and outlined construction options. The plan is to deliver a 200-room hotel with convention space nearby. A private sector partner will be selected and both components of the effort will be included in one overall initiative.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UK Companies Seek to Cut Ties to CBI on Diversity CampaignSome of the UK’s biggest businesses are looking to spin out a major boardroom diversity campaign from the scandal-hit Confederation of British Industry, according to the Financial Times.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Renewables companies hit brakes on Alberta projects after govt delays approvalsBy Rod Nickel WINNIPEG, Manitoba (Reuters) - Alberta's seven-month pause on approving new renewable power projects in the Canadian province has caused ...
Source: SaltWire Network - 🏆 45. / 63 Read more »

As world warms, Sweden sees opportunity to grow its young wine industryNYHAMNSLÄGE, Sweden (AP) — It’s mid-afternoon in late summer and a fresh North Sea breeze blows through the vines at Kullabergs Vingård, a vineyard and winery at the vanguard of producers seeking to redefine what Swedish wine can be. Scandinavia isn't exactly what connoisseurs would define as prime wine country and commercial vineyards are still tiny compared to France, Italy or Spain. But with climate change making for warmer and longer growing seasons, and new varieties of grapes adapted to th
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

How Goodreads is shaking up the publishing industry | The Sunday Magazine with Piya Chattopadhyay | Live RadioGoodreads has come under intensified scrutiny after author Elizabeth Gilbert pulled her forthcoming book from publication due to hundreds of negative reviews on the site — before the book even hit store shelves. Reviewers were upset that her book was set in Russia. But now, industry watchers are upset the site had such influence. Novelists Rebecca Kuang, Zoe Whittall and freelance writer Angela Lashbrook share their thoughts on the industry impact of an online community.
Source: CBC - 🏆 32. / 63 Read more »