October 2022

The Return of Revenue-Risk Transportation P3s

Robert W.Poole Jr. Director of Transportation Policy, Reason Foundation

Ten years ago many people in the U.S. P3 infrastructure world believed that the relatively new availability-payment model was the wave of the future. It proved successful on two Florida P3 megaprojects—the Port of Miami Tunnel and the reconstruction and widening of I-595 in Fort Lauderdale. It was seen as more attractive to bidders since there was no revenue risk, and operations and maintenance seemed to morph into simply hiring a specialized maintenance contractor.

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