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The Benefits of Long-Term P3 Concessions

The Benefits of Long-Term P3 Concessions

Chapter:
(p.96) Chapter Six The Benefits of Long-Term P3 Concessions
Source:
Rethinking America's Highways
Author(s):
Robert W. Poole Jr.
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226557601.003.0006

The P3 model creates different incentives for highways, including risk transfer and design innovation. Financial differences include revenue bonding, better project selection, guaranteed maintenance, and a direct customer-provider relationship. Some of these benefits are also seen in public toll agencies.

Keywords:   Incentives, Risk transfer, Financing, Innovation, Toll authorities, Revenue diversion, Value-for-money analysis

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