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The current catalysts for US PPP development
13 October 2011
There remain considerable challenges in developing and closing US PPP transactions, but there are still promising opportunities in the country’s transportation infrastructure sector. By Ivan Mattei, partner, and Michael McGuigan, associate, Debevoise & Plimpton.
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[us ppp]
[municipal]
[tifia]
[legislation]
Federal, state and local governments in the US are struggling to meet their transportation infrastructure needs in a challenging economic environment. At the federal level, numerous proposals to redress the substantial deficit in US transportation infrastructure, ranging from expanding existing programmes to the establishment of a federal infrastructure bank, are being discussed with increased seriousness, but few such proposals have made meaningful progress in the US Congress.
On the other hand, primary responsibility for the development of specific transportation infrastructure projects in the US generally rests at the state level, and each state is largely free to determine whether and how to structure its own PPP programme. Impelled partly of economic necessity, but also due to the gradual accumulation of knowhow and expertise gained in successful precedent transactions in many states, the US PPP market is now developing at an accelerating pace. It is therefore an opportune time, if the...
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