News
PPP USER MANUAL; MOSLER & ZIFF
March 17, 2010
| Public-private partnership funding is out there for projects and infrastructure work. What does it take to get involved? We turned to Stroock & Stroock & Lavan real estate partner Ross Moskowitz. |
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| The government has an abundance of funding opportunities, surplus properties, and projects, Ross says, so there’s a perpetual stream of activity that needs private partners. This is especially true in education and healthcare, which are in expansion mode. If you’re not slated to complete another project over the next few years and have time to reposition, now’s the time, he notes—but before you jump into a PPP, know the risks. Despite these, Ross has seen an increase of client inquiries regarding PPPs. |
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| Ross points out some PPPs from his Maiden Lane window, including Governors Island and Brooklyn Bridge Park. It’s a public process, so you’ll need the ability to compete in an RFP, which can be subject to the Freedom of Information Law and publicly scrutinized, he cautions. You have to be accountable, so make sure you have the infrastructure to track items like expenditures, local laws, and hires. The PPP may cause a potential conflict with your other projects, so know your limitations. Note the political situation: a project can be affected by another administration. And the government is very risk adverse, so you may find them less agreeable to certain items. |
