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Public/Private Approach to Implementing Transportation System Improvements

by John Q. Hargrove, Gannett Fleming, Inc, United States,



Document Type: Proceeding Paper

Part of: Engineering and Business: Converting Engineers to Businessmen

Abstract:

This paper discusses the necessity to develop major transportation improvements that could be implemented by forming public and private financing partnerships. The general requirements for transportation improvements are discussed and the reduction in UMTA's capital grant authorizations for all types of transit projects explained. The basic concept of public and private financing and ownership is explained as well as the financial advantages and disadvantages to both the public and private sectors, an example of a public and private co-venture is developed and the potential economic benefits explained. The procedures for implementing a public/private procurement process are then explained.

Subject Headings: Public private partnership | Private sector | Public transportation | Financing | Urban and regional development | Transportation management | Financial management

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