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What's New: Public-Private Partnerships (P3s)

District of Columbia Enacts P3 Enabling Legislation with Bonding Requirements

Tuesday, January 6, 2015  

Today, outgoing District of Columbia Mayor Vincent Gray signed LB 595, the “Public-Private Partnership Act of 2014,” which authorizes public-private partnerships (P3) for education, transportation and cultural or recreational facilities, buildings or other facilities that are beneficial to the public interest and are developed or operated by or for a public entity, utility facilities, improvements necessary or desirable to any unimproved District-owned real estate, and any other facility that the District approves. Parties to a P3 agreement are exempted from the District Procurement Practices Reform Act, which includes the District’s bonding requirements. SFAA successfully had the bill amended so that bonding requirements will apply to P3s. The new law is subject to a 30-day Congressional review before it can become effective.

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