ULI Releases New Publication "Successful Public-Private Partnerships"
The Urban Land Institute (ULI) has released a new report - Successful Public-Private Partnerships: From Principles to Practice. This insightful report was written to offer solutions to the challenges facing the public sector in creation of real estate developments which benefit both the private and public sector, as well as to help develop and maintain infrastructure and public facilities. The purpose of this publication is to build on the Ten Principles of Successful Public-Private Partnerships, which was published 10 years ago, with KMA's Jerry Keyser being a key contributor.
Per ULI's press release, the updated report offers a toolkit of best practices for effectiveness, including tips on creating a shared vision and public purpose; assembling public and private members for the development team; laying the groundwork for successful P3s; assessing the fiscal impacts and community benefits; structuring development partnership deals; structuring infrastructure and facility P3s; managing risk and sharing success; and documenting and monitoring deals. A KMA project is featured in the report as a case study of a successful P3; The Crossings/900, a mixed-use infill development in Downtown Redwood City. KMA assisted the City in selecting a developer (Hunter/Storm and Kilroy Realty) and entering into a Disposition and Development Agreement for the purchase of the City-owned property. The developer was required to comply with certain parking requirements for the benefit of the public and, patrons of downtown businesses.