Traditional Public/Private Partnerships (PPP)
Brookwood can act on behalf of or serve as a partner in a Public/Private Partnership. Services should start early in the pre-planning of the entity and continue through completion of the project(s). Services typically include development of a project financing/construction plan, management of the design and construction, commissioning, and setting up a facilities management program. Specific professional services typically include construction program planning and management, interface with project financing, and design consultant services.
Collaborative Public-Private Partnerships (CP3)
In recent years, there has been a dramatic shift in the public sector’s ability to fund projects intended to serve the overall public good. Many agencies, colleges, universities, and institutions are seeking alternative funding sources to deliver projects rather than relying upon traditional capital budgeting or the bond markets for these projects.
In a traditional PPP, a public entity or institution may transfer land to the developer and/or commit to specific subsidies at the early stages of a project. Concomitantly, they also make every effort to transfer most of the risk (and potential for financial success) of the project to the team developing the project. This may have the unintended consequence of fostering an adversarial relationship between the entities, as the goals of the two parties are not aligned.
Alternatively, an equitable three way Collaborative Public Private Partnership (CP3) reduces the risk to the capital partner and establishes a fair risk-adjusted return to the development and capital partners. A CP3 assures that the public entity achieves its strategic objectives by participating fully in the planning, design, and quality of the product to the degree it wishes. Further, with the CP3 approach, the public entity participates in the timing for the development and participates in the potential financial upside of the project.
Brookwood is at the forefront in advancing and participating as the development entity in the CP3 form of public-private partnership.
For further information about Collaborative Public/Private Partnerships download the PDF publication entitled Collaborative Public-Private Partnerships (CP3) (4 Pages, 352kb)