by Ron Nyren for UrbanLand Magazine
July 8, 2013
In the last several years, public/private partnerships have gotten a bad reputation because cities started entering into concession agreements, turning over public assets to private entities in exchange for money upfront. These agreements were misnamed public/private partnerships and resulted in cities’ giving up future revenues that were needed to create long-term fiscal balance… The better model is a true partnership where cities that need capital access private capital and draw on private sector innovation and management to increase asset value and annual income. True public/private partnerships are completely transparent; the partnership agreement specifies who is supplying money and expertise, what responsibilities each party has, and how the money flows when it comes in.