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  • P3 Project Deal Points Should Also Make Sense for the Design-Builder June 22, 2017P3 Project - The P3 delivery method is rapidly maturing in the US market and there is a wealth of information focused on how a P3 project can be best utilized to optimize the most efficient risk transfer among the appropriate stakeholders. Much of this discussion focuses on Value for Money over the life cycle of the asset, and assesses the risk relationship between the Public Owner and the Special Purpose Vehicle (“SPV”). However, due to the prime contractual relationship between the Public Owner and SPV, and the private financing associated with these projects, the ensuing flow down of certain terms to the Design-Builder (“DB”) can go over and beyond what is considered normal in traditional project delivery methods. While every P3 project is highly localized and unique, and the US P3 market is still developing (especially in social infrastructure), common heightened risk factors have come to the forefront in the agreements between Owners and SPVs, which will impact a DB. Security: In many such transactions, the DB is required to provide a letter of credit to secure its performance. These letters vary as a percentage of the total DB contract, however they are often up to 10% of contract value and thus worth Read More

UC Merced’s Historic $1.3 Billion Expansion

Congressman Kelly Visits Erie Schools