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FHWA: User Guidebook on Implementing Public- Private Partnerships for Transportation Infrastructure Projects in the United States

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FHWA: User Guidebook on Implementing Public- Private Partnerships for Transportation Infrastructure Projects in the United States User Guidebook on Implementing Public- Private Partnerships for Transportation Infrastructure Projects in the United States Final Report Work Order 05-002 Prepared for: Office of Policy and Governmental Affairs Prepared by: JULY 7, 2007 AECOM CONSULT, AN AFFILIATE OF DMJM HARRIS 3101 WILSON BOULEVARD, SUITE 400 ARLINGTON, VIRGINIA 22201 T 703.682.5100 F 703-682-5001 WWW.DMJMHARRIS.COM July 7, 2007 Mr. James W. March Team Leader - Industry and Economic Analysis Team Office of Policy and Governmental Affairs Federal Highway Administration (FHWA) - HPTS 1200 New Jersey Avenue, SE Washington, DC 20590 User Guidebook on Implementing Public-Private Partnerships for Transportation Infrastructure Projects in the United States - Task Order 05-002 Dear Mr. March, AECOM Consult, in association with DMJM Harris, FaberMaunsell, Maunsell of Australia, the National Council of Public-Private Partnerships, and the Ybarra Group, is pleased to provide the final User Guidebook on Implementing Public-Private Partnerships for Transportation Infrastructure Projects in the United States. This report provides a comprehensive set of insights for developing and implementing transportation infrastructure projects using PPP approaches. It is aimed at both the early practitioners of PPP projects as well as those agencies just beginning to consider the possibility instituting some form of PPP arrangement for a particular project currently stalled for lack of available resources. This PPP User Guidebook describes the many participating groups, stages of development, and institutional factors associated with surface transportation PPPs. It considers the full life-cycle of PPPs, from development to execution to performance reporting. It identifies and discusses statutory, regulatory, financial, and institutional issues that should be addressed to successfully implement and manage a PPP project. The guidebook suggests a general process for developing transportation project PPPs and strategies for overcoming impediments faced by public and private sector partners during contract development and project implementation phases. The guidebook also offers general lessons learned from prior or current transportation PPP projects in the United States and other countries. Two companion reports present PPP program descriptions and case studies and cameos of actual transportation PPP projects. One report focuses on transportation PPP projects in the United States while the other report focuses on transportation PPP programs and projects in other countries where modern PPPs evolved and have been used for many years. We appreciate the opportunity to prepare this PPP User Guidebook. We acknowledge the support and assistance provided to the study team by members of the FHWA Office of Policy and Governmental Affairs, FHWA Office of the Administrator – PPP Unit, and FHWA Resource Center in San Francisco. We are especially grateful for your guidance and suggestions throughout this study effort. Very truly yours, Daniel L. Dornan, P.E. Senior Consulting Manager AECOM Consult, Inc. An AECOM Company USER GUIDEBOOK ON IMPLEMENTING PUBLIC-PRIVATE PARTNERSHIPS FOR TRANSPORTATION INFRASTRUCTURE PROJECTS IN THE UNITED STATES PREFACE Highway transportation agencies across the United States face fiscal challenges caused by the growing gap between the costs of providing and preserving highway infrastructure and available highway program funding. The inability of motor fuel taxes to provide adequate funds has prompted transportation policymakers to consider alternative ways to develop needed transportation projects. Public-private partnerships (PPPs) represent a wide variety of project financing and delivery approaches which offer the potential to expedite projects and cost- effectively operate and maintain the resulting facilities and services. By leveraging scarce public funds for transportation facilities, PPPs can help transportation agencies ³do more with less.´ The common element of a PPP is that public sponsors of transportation projects engage the private sector to a greater degree in the performance of certain functions previously handled by the public sector. This can range from contract maintenance to life-cycle finance, development, operations, and preservation. The U.S. Department of Transportation and its surface transportation administrations are encouraging their counterparts at the state and local government levels to consider the use of PPP approaches to accomplish more projects in their work programs. This document provides guidance in the application of PPPs to transportation projects based on the experiences of transportation agencies in the U.S. and other countries that have applied these delivery approaches. The guidebook is aimed at both early practitioners of PPP projects as well as those agencies just beginning to consider the possibility of instituting PPP approaches for projects currently stalled for lack of available resources. The PPP User Guidebook describes the many participants, stages of development, and institutional factors associated with developing and implementing PPPs for transportation infrastructure projects. It considers the full life-cycle of transportation facilities, from development to execution to performance reporting. It identifies and discusses statutory, regulatory, financial, and institutional issues associated with implementing and managing PPP projects. It suggests a general process for developing transportation PPP programs and projects and strategies for addressing impediments and managing risks faced by public and private sector partners during contract development and project implementation phases. It also provides summary information on a sampling of prior or current PPP projects, including lessons learned from these projects. The PPP User Guidebook on is intended to assist sponsors and providers of transportation projects take the necessary steps and precautions to promote successful delivery of PPP projects while protecting the public interest, especially the ultimate users of the facilities so developed. Two companion reports present descriptions of PPP programs and case studies of transportation projects using PPPs. One report focuses on PPP projects in the U.S. while the other report focuses on PPP programs and projects in other countries where PPPs have a longer history of use. The report on international PPP programs and projects describes how PPP approaches continue to evolve and be introduced in additional countries seeking to expand their transportation networks to better participate in the growing global economy. Transportation PPP User Guidebook TABLE OF CONTENTS Section Page PREFACE 1. INTRODUCTION 1 Experience in Developing and Implementing PPPs 1 FocusofGuidebook 1 Contents of Guidebook 2 2. RATIONALE FOR ALTERNATIVE PROJECT DELIVERY APPROACHES 3 Issues Driving Interest in Alternative Project Delivery Approaches 3 Assessment Framework for Considering Transportation PPPs 6 Federal Transportation Agency Leadership Support for PPPs 8 Key Questions to Guide Consideration of PPPs 9 3. PUBLIC-PRIVATE PARTNERSHIP APPROACHES 10 Background 10 Definition of Public-Private Partnerships 10 Public-Private Partnership Approaches 11 Other Types of PPP Approaches Focused on Project Funding 16 Potential Benefits of PPPs for Transportation Projects 17 4. CRITERIA TO DETERMINE PPP OPPORTUNITIES 20 Project Suitability Criteria for PPP Project Delivery 20 Agency Readiness For PPPs 24 States Most Likely to Sponsor Surface Transportation PPPs 28 5. PROGRAM FRAMEWORK FOR DEVELOPING AND MANAGING PPPs 29 Institutional Requirements and Issues 29 LegalConsiderations 31 Procurement Considerations 34 PPP Project Development and Implementation Processes 45 Transportation PPP User Guidebook i TABLE OF CONTENTS ± continued Section Page 6. IMPEDIMENTS AND RISK MANGEMENT FOR TRANSPORTATION PPPs 48 Key Impediments 48 Adressing Impediments to Transportation PPPs 50 Risks Associated With Transportation PPPs 52 7. DOMESTIC AND GLOBAL USE OF TRANSPORTATION PPPs 59 Use of PPPs for U.S.Road-Related Projects 59 Comparative Use of PPPs for U.S. Highway and Transit Projects 61 Future Use of PPPs for U.S. Surface Transportation Projects 63 Global Use of PPPs to Advance Road-Related Projects 64 Capabilities to Support Transportation Project PPPs 66 8. LESSONS LEARNED FROM TRANSPORTATION PPP PROJECTS 70 Critical Success Factors for PPP Project Development and Implementation 70 Lessons Learned from U.S. and International Transportation PPP Projects 70 9. CONCLUSIONS 79 Global Use of Alternative Project Delivery Methods Leads to Domestic Applications 79 Public-Private Partnership Approaches Leverage Scarce Public Resources 79 PPP Program and Project Development Steps and Critical Success Factors 80 Benefits and Risks for Public Sponsors and Private Providers of PPP Projects 82 Need for Objective Comparison of PPP Advantages and Limitations 83 Overcoming Uncertainty of PPPs while Balancing Public and Private Interests 84 APPENDIX A - SAMPLE TRANSPORTATION PPP PROJECT RESULTS FROM THE U.S. AND OTHER COUNTRIES A-1 APPENDIX B - STATUTORY AUTHORITY AND KEY PROVISIONS FOR TRANSPORTATION PPP PROJECTS BY STATE B-1 APPENDIX C - GLOSSARY OF TERMS C-1 APPENDIX D - LIST OF ACRONYMS D-1 APPENDIX E ± PUBLIC-PRIVATE PARTNERSHIP REFERENCES E-1 APPENDIX F - PUBLIC-PRIVATE PARTNERSHIP WEB SITE LINKS F-1 Transportation PPP User Guidebook ii LIST OF EXHIBITS Exhibit Page 1. Issues Driving Greater Interest in Alternative Project Delivery Approaches 3 2. Potential Advantages of
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