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

Minnesota P3 Pilot Project Bill Heard in Committee

Tuesday, March 17, 2015  

Minnesota HF 1924 contains a provisions that would authorize the Commissioner of Transportation and Metropolitan Council to establish a public-private partnership (P3) pilot program for up to three transportation projects. The bill provides that the private entity would have to provide for “financial protection for the State in the event of default.” HF 1924 was called with little notice and heard in the House Transportation Policy and Finance Committee. SFAA worked with AIA and NASBP to address bonding for the construction portion of a P3. SFAA and AIA distributed a written statement to the committee in connection with the testimony at the hearing. The local AGC has been working for almost two years on developing principles/best practices for P3s and supported the sureties on the need for bonding the construction portion of a P3. The bill was held in committee.

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