A “vision” – the seed of any ppp – is nothing unless it’s…

A “vision” – the seed of any PPP – is nothing unless it’s…

• A “vision” – the seed of any PPP – is nothing unless it’s…

• Supported – There needs to be a “champion” behind the PPP!
• Articulated – Precisely what is that you want/need to achieve and why?
• Shared – Equally understood and embraced by both/all partners.
• Sustained – “Durable” enough to survive, even if/as stakeholders change.

Not a replacement for traditional procurement methods. Simply “another tool in the tool box” that encourages creativity, helping define problem statements and craft corresponding business solutions (beyond just “bricks and mortar”).

• Not a replacement for traditional procurement methods. Simply “another tool in the tool box” that encourages creativity, helping define problem statements and craft corresponding business solutions (beyond just “bricks and mortar”).

• Need not exist only when private-sector financing is involved. Consider as means of overcoming common project constraints:

• Time – Achieve faster delivery (can be 25% to 50% sooner), critical for meeting internally or externally-driven deadlines.
• Dollars – Reduce cost through efficiencies gained by turnkey/streamlined delivery.
• Staff – Overcome human resource constraints (privatizing “non-core” operations, if need be).
• Risk – Outsource to achieve appropriate allocation/balance of risk among project partners.

If private-sector financing is involved, candidate project must:

• If private-sector financing is involved, candidate project must:

• Have dedicated revenue stream associated with it;
• Involve some sort of in-kind exchange, such as surplus land for private development;
• Provide opportunity for tax-increment financing (or similar); and/or,
• Provide opportunity to “monetize” existing assets of public sector partner (for example, sale-leaseback transactions).

Balance program objectives with resource realities, promoting creative solutions through bundled delivery.

• Balance program objectives with resource realities, promoting creative solutions through bundled delivery.

• Increase flexibility and speed of delivery, overcoming constraints borne of traditional procurement process.

• Take more strategic approach toward debt management and planning of capital projects, mitigating construction/operating cost escalation and preserving borrowing capacity for core facilities.

Scope = Design / Build / Furnish / Finance:

• Scope = Design / Build / Furnish / Finance:

• 152-bed, 105,000 SF on-campus apartment-style housing and retail.
• Ground lease from University to 501(c)(3) Foundation and building lease vice-versa.
• Tax-exempt and taxable debt issued through Prince William County Industrial Development Authority.
• Retail leasing, financing, fit-out, and management by Gilbane Development Co.

Scope = Design / Build / Furnish / Finance:

• Scope = Design / Build / Furnish / Finance:

• 75,000 SF on-campus life sciences lab building.
• Ground lease from University to 501(c)(3) Foundation and building lease vice-versa.
• Tax-exempt and taxable debt issued through Prince William County Industrial Development Authority.
• “Incubator Space” on 3rd Floor.

Scope = Design / Build / Furnish / Interim Finance:

• Scope = Design / Build / Furnish / Interim Finance:

• Driver: Consolidate campus from ~400 to ~80 acres to create surplus acreage ($) to benefit patient initiatives.

• 150-bed, 188,000 SF psychiatric intermediate care facility specializing in adult patients.

• Replaces nine buildings with one.

• Embraces “House, Neighborhood, Downtown” patient treatment model.

• Featured in Behavioral Healthcare magazine.

Scope = Design / Build / Furnish / Finance / Own / Operate:

• Scope = Design / Build / Furnish / Finance / Own / Operate:

• 540-bed, 160-unit, 285,000 SF apartment-style student housing.
• Referral agreement from VCU.
• Fully-furnished apartments (including flat screen TVs) plus lounges, fitness center, courtyards, 200-car garage, etc.
• Every bedroom has private bathroom.
• 15-month delivery from land closing to student occupancy.
• VCU’s needs met without committing its own capital.
• www.8onehalfcanal.com

Scope = Design / Build / Furnish / Finance / Own / Operate:

• Scope = Design / Build / Furnish / Finance / Own / Operate:

• 406-bed, 136-unit, 260,000 SF apartment-style student housing.
• Referral agreement from VCU.
• Fully-furnished apartments (including flat screen TVs) plus lounges, fitness center, courtyards, 200-car garage, etc.
• Every bedroom has private bathroom.
• Includes adaptive reuse of historic building and partial tax abatement.
• VCU’s needs met without committing its own capital.
• www.1200westmarshall.com

Scope = Design / Build / Finance / Own / Operate:

• Scope = Design / Build / Finance / Own / Operate:

• Mixed-use development at “front door” to University of Rochester.
• 110,000 SF of street-level retail and restaurants (including Barnes & Noble and Constantino's Market), 50,000 SF of Class A office space, 155,000 SF of residential space, 136-room Hilton Garden Inn, and 1,600-space parking garage.
• Support university’s mission, strengthen surrounding neighborhoods, increase tax revenue, and create jobs.
• U of R’s needs met without committing its own capital.
• www.collegetownrochester.com

Scope = Design / Build / Furnish / Finance:

• Scope = Design / Build / Furnish / Finance:

• Development feasibility study (dovetailed with findings of independent market study).

• 126-bed apartment-style residence hall (delivered 11 months from agreement to occupancy).
• 100 on-campus parking spaces.
• Co-developer agreements regarding off-campus sewer and water extensions to site.
• Ground lease from College to 501(c)(3) Foundation and building lease vice-versa.
• Tax-exempt debt issued through Maryland Economic Development Corporation (MEDCO).

Scope = Operating (Master) Lease with Purchase Option:

• Scope = Operating (Master) Lease with Purchase Option:

• 1031 exchange of Fairfax, Virginia asset

• Acquisition of B of A (formerly Fleet Bank) assets:

• 1912 – 12 stories, 350,000 SF (historic)
• 1973 – 28 stories, 370,000 SF
• Common lobby and HVAC/sprinkler systems

• Adaptive reuse of 1912 building for RISD:

• Retire 100-year ground lease
• Integrate shared access and utility easements
• Consolidate office uses into 1973 building
• Create living-learning center:
• Library and museum: Floors 1 & 2
• Student housing: Floors 3 - 11
• Student union (food service): Floor 12
• 20-year operating lease (options to 50 years)
• Distinct windows for purchase options:
• Converted taxable to tax-exempt debt

Scope = Design / Build / Furnish / Finance:

• Scope = Design / Build / Furnish / Finance:

• 158,000 SF, five-story government center including administrative headquarters and 418-car garage.

• Scattered operations consolidated in two locations and capitalized using tax-exempt bonds, creating ~$1 million in annual savings (~$22 million over lease term).

• County outsourced financing, design, development and construction risk, realizing significant savings.

• Project-specific 501(c)(3) ownership entity established by Gilbane.

• Site master planned to accommodate future expansion.