Services

What is a Public-Private Partnership (P3)?

A Public-Private Partnership (P3) is a contractual agreement between a public agency and a private sector entity to deliver a service or facility for the use of the general public. These facilities include libraries, city halls, police and fire facilities, parks, and infrastructure – to name a few. In addition to sharing the resources, each party shares in the risk and rewards potential in the delivery of the service and/or facility. In a P3 arrangement, the public agency remains actively involved throughout the project’s life cycle. Depending on the agreement, the private sector may be responsible for commercial functions such as project design, construction, finance, operations, and maintenance.

Griffin Structures, Inc. offers P3s in a variety of forms, with varying degrees of public and private sector involvement – and varying levels of public and private sector risk apportionment. In fact, risk transfer from the public to the private sector is a critical element in all P3 projects. Our goal is to best utilize the capabilities from both the public and private sectors to assume mutual success.

For three decades, Griffin has worked with public sector clients to plan, design, build, finance, operate, and maintain their facilities in the venue of Public-Private Partnerships. Our depth, experience, and capabilities have successfully provided leadership and continuity to manage our clients’ risk and streamline project delivery. We deliver the highest quality project in the most cost-effective and time-efficient manner. As a proven, trusted advisor, it is our privilege to mention that we have never missed a schedule or been over budget on any project.

What is the Bottom Line?

P3s when managed properly can have significant benefits for both the public and private sectors. Government can reduce the costs and risks borne by taxpayers; the private sector can generate business opportunities; and the public can receive better or more accessible services. P3s provide an opportunity to:

• Improve Service Delivery
• Improve Cost-Effectiveness
• Reduce Public Sector Risk
• Deliver Projects Faster
• Improve Budget Certainty
• Make Better Use of Assets