Structuring Public-Private Partnership Agreements: Leveraging the New EJCDC Standard P3 Contract Form

Description

As governments continue to confront increasing budget constraints and competing funding priorities, public-private partnerships have become a growing and critical source of infrastructure development for a diverse group of projects such as convention centers, airports, courthouses, water and wastewater systems, schools, affordable and military housing, university housing and campus improvements, hospitals, urban renewal property assembly, and mixed use developments.

Public-private partnership contracts outlining the project development are complex documents that are time-consuming to draft and negotiate. In late 2014, the EJCDC published a standard P3 contract assimilating best practices from many P3 agreements currently utilized. The document received input from all stakeholders in P3 projects—owners, attorneys, financiers, developers, contractors, and design professionals.

The EJCDC contract addresses design, terms of financing, construction, operation and maintenance of the project, keeping in mind various jurisdictional statutes and regulations. Counsel representing parties to P3 projects should be knowledgeable with this new standard P3 agreement and leverage the agreement to streamline contact negotiations and assist the client in reducing the expense of the contract phase of the P3 project.

Listen as our authoritative panel of real estate attorneys walks you through the new EJCDC standard P3 contract with particular emphasis on the design, finance terms, construction, operation and maintenance provisions of the form contract. The panel will instruct you on how to leverage this new P3 agreement to assist clients in the development of P3 projects.