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January 4, 2018
There's more buzz lately about the use of P3 — public-private partnerships — for construction projects in Washington. Enough so that the state could change some rules to widen its use.
P3 allows public agencies to contract with private-sector firms to develop projects ranging from roads to university student housing to hospitals. Private-sector firms ideally use their expertise to develop projects faster and at less cost than traditional public methods. The big kicker is that the private firms can provide financing for sometimes cash-strapped public entities.
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