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New Jersey bill seeks P3 expansion

Municipal Market Analytics analyst Lisa Washburn said that availability payments don’t help with funding challenges for infrastructure projects, because governmental entities still have to make the payments just as they would with debt service. While expanding P3s would have some benefit to New Jersey, she said, they probably wouldn't make a major dent in the state’s fiscal challenges.

“If you look across the country there hasn’t been a large number of P3s relative to traditional municipal financing,” said Washburn. “If they were so much more effective, you would see them used a lot more.”

Oroho and Sweeney's plan to spearhead the P3 bill comes with New Jersey still hamstrung by revenue shortfalls. The proposal also arrives in the midst of President Trump's push to place more funding responsibilities for infrastructure projects on the private sector and with state and local governments.

Tim Holler