Public-Private PartnershipsAs the cost of providing public infrastructure projects continue to rise, the Regional Transportation District (RTD) is looking at innovative financing options for delivering the FasTracks program within the general scope, timeframe and financial capacity approved by voters in 2004. Public-Private Partnerships, or P3s as they are often called, is one concept that RTD is pursuing in the implementation of FasTracks. A P3 is described by the Federal Transit Administration (FTA) as a contract wherein a single private entity, typically a consortium of private companies, is responsible and financially liable for performing all or a significant number of functions in connection with a project.
P3s have a solid reputation for delivering projects on time and on budget. The Transportation Expansion (T-REX) Project, which was RTD and the Colorado Department of Transportation's combined light rail and highway expansion project along the southeast I-25 corridor, was delivered as a Design-Build project - a type of P3. T-REX did, in fact, finish on time and on budget.
RTD utilized P3s to implement many of the FasTracks projects including Denver Union Station, North Metro and I-225 corridors, as well as the East Corridor, Gold Line and commuter rail maintenance facility projects.
Three projects have been collectively accepted by the FTA as part of its Public-Private Partnership Pilot Program (Penta-P). To learn more about the Penta-P project and the East corridor, Gold Line, and commuter rail maintenance facility, please click here.
As RTD developed the Request for Proposal (RFP) for the Eagle P3 Project, stakeholders were asked to participate in an online survey designed to seek input into the RFP. Staff evaluated the input and determined what was appropriate to incorporate into the RFP. Click here for a summary of the P3 RFP Input Survey.