P3C Roundtable Discussions (Government and Public Agencies)

To kick off day two of the conference, from 8:00 am – 9:30 am on Tuesday, there will be a series of interactive roundtable conversations on ten different P3 topics. Each conversation will run about 25 minutes, and during the 90 minutes session, you’ll have time to sit in on 3 different conversations.  Attendees are invited to sit in on any topic of interest, and new discussions will start every half hour.

The roundtables are meant to be fun, candid exchanges where participants can ask their questions, share experiences, and network. Presenters will guide discussions by bringing up case studies, targeted issues, and topics impacting the current P3 landscape. During the roundtable you’ll get to meet others attending the conference who are focused on the similar issues and challenges, and we hope you enjoy these opportunity to interact and share perspectives.

Participant Guidelines:

  • Table numbers for each topic can be found in this guide, the printed event guide, and on signage in the room. Tables will have seating capacity for 24 people.
  • Consider bringing plenty of business cards. You could find yourself meeting as many as 100 new people during the session.
  • Attendees can explore the Hall and select their first table as early as 7:45 am. Conversations will begin formally at 8:05 am with a loud bell ring. Presenters will have 25 minutes for in-depth presentation and discussion.
  • 2 minutes before the end of a discussion a bell will ring to indicate 2 minutes are left, and that Presenters should wind down their conversations.
  • On every half hour, you are to select a new table. If seating is not available at a table, please select another table and then try back for the next conversation.
  • Presenters will speak again with the new group of attendees, starting a new discussion approximately 5 minutes after the prior discussions break (i.e. 8:35am, 9:05am, etc.).
  • During the Roundtable Session, there will be time for 3 different conversations. There is time in between topics to get coffee, water, or use the restroom outside the ballroom.

Table 1: Cost of Finance – Does it Really Matter? 

Participate in an interactive roundtable with leaders from the Performance Based Building Coalition to discuss the relevance of the cost of finance in considering PPPs.  Some public officials disregard PPPs outright arguing that tax exempt financing can be cheaper.  However, in the case of recent projects, such as the Long Beach Civic Center, this argument has been debunked.  We will discuss when the cost of finance is relevant and other factors to consider in weighing the value for money of a PPP.

Facilitator:  Samara Barend, Founder, Performance Based Building Coalition

 

Table 2: Off Balance Sheet But On Credit

Among the many touted benefits of potential P3 projects is the ability to keep the debt off the balance sheet.  But just because it’s off the balance sheet, do the rating agencies consider it to be off-credit as well?  Chat with a ratings analyst who will discuss their approach to evaluating a P3 project’s impact on credit rating.

Facilitator:  Emily Raimes, Senior Credit Officer/Manager, Public Finance Group, Moody’s Investors Service, Inc

 

Table 3: Owner Roles/Responsibilities in Executing a P3

This roundtable will address the roles and responsibilities of the public owner throughout the project delivery process. For each major stage of a P3 project — planning, formation, structuring, procurement, and implementation (both construction and operations) – we will compare and contrast technical, commercial, legal, and financial management functions and decision making for DBB and DBFOM delivery.

‎Facilitator: Orion Fulton, Associate Principal, Arup Transaction Advice

 

Table 4: Operational P3s:  Lessons Learned Along the Way 

This session provides best practices and lessons learned from active P3 projects in both the construction and operation phases.  The group will discuss how to drive innovation and value for money, finding the right risk transfer balance, ensuring a successful transition and what to expect for the next 30 years.  The facilitator will also discuss key  considerations in developing and implementing P3 projects including development of performance specifications, dispute resolution approaches and risk allocation between the private and public partners.  Join this table to discuss these issues, including some ideas to develop concepts that might work for your facility.

Facilitator:  Angela Taylor, Senior Vice President, Plenary Group

 

Table 5: Lessons Learned from a Successful P3 Procurement, Structuring and Financing

Learn how the city of Long Beach approached their need for a new civic center by developing a P3 that met the city’s operational requirements within the city’s tight budgetary constraints and provided increased associated development of the downtown area.  This discussion will cover important P3 procurement lessons learned including (i) the RFQ short listing process, (ii) the RFP process, (iii) political support during the procurement period despite a change in government, (iv) a review of alternative financial structuring elements and one-time subsidies to help meet the city’s budgetary limits, (v) importance of P3 risk allocation and the potential to trade those for lower perceived costs, and (vi) how the final taxable financing was cheaper than tax exempt structures that were explored (63-20, Lease Revenue Bonds, COPs, 501(3)c, etc).

Facilitator:  Michael Palmieri, President, P3 Point

 

Table 6: Value Creation from Transferring Operations & Maintenance Risk

One of the biggest do differents in a P3 delivery is the long-term operations and maintenance obligations the private sector is responsible for delivering.  Many public sector sponsors have stated the operations and maintenance services as one of the biggest reasons for considering a P3.  Come join me to discuss how the inclusion of operations in a P3 helps to build better buildings and improve service quality.

Facilitator:  Claudio Andreetta, Director, Business Development – P3s, Johnson Controls

 

Table 7: Using Tax-Exempt Bonds in P3

For years tax-exempt financing has been the preferred means to finance public facilities.   In a round table format, we will address the issues involved in using tax-exempt debt in public-private partnerships.  The session will compare and contrast structures involving tax exempt debt vs conventional debt and equity.  It will consider the impacts of the financing structure on project cost, project delivery and long term operations and maintenance.

Facilitator:  John Finke, President, Public Facilities Group

 

Table 8: The Art & Science of Establishing Insurance Requirements

A discussion to help understand the perspectives and desired balance to be achieved by both the Public and Private sectors in determining risk allocation and minimum insurance requirements.

Facilitator:  Alicia Clendenan, Associate Director, Aon Infrastructure Solutions

 

Table 9: Best Practices for P3 Procurement Success

Are you considering a P3 delivery for your new municipal asset, but not sure where/how to start? Concerned about attracting private sector interest? This roundtable will address pre-RFP activities for a municipal entity to consider, a procurement road map to follow, and then steps to take to prepare and implement a P3 from procurement through award, commercial/financial close, delivery, and operations.

Facilitator: Geoffrey Stricker, Managing Director, Edgemoor Infrastructure & Real Estate