During the coronavirus era, government entities are facing unprecedented fiscal pressure as the COVID-19 health crisis devastates their revenue sources, especially in states like Florida, where the economy heavily depends on the hospitality industry. With many states and local governments searching for additional sources of revenue or savings, now may be the best time to make unsolicited Public Private Partnership (P3) offers. Private sector players that have the ability to provide infrastructure, transportation, utilities, solid waste or the capability to outsource other government services have never had a better opportunity.
Florida’s P3 law broadly authorizes private firms to submit unsolicited proposals to state and local agencies. The timing is even better for concessionaires and other businesses that can provide upfront payments in exchange for long-term income streams earned from monetization of government-owned property and rights-of-way. Unsolicited proposals that provide government entities with upfront and downstream revenue or delay major costs are more than welcome in this environment.
Our attorneys have been instrumental in arranging some of Florida’s most high-profile and complex P3 transactions. Many of these originated with unsolicited offers to local governments. Our local government track record gives us a high level of credibility with government officials and stakeholders who are essential in moving a new proposal forward and gaining the approvals required at each level of government. Our successful projects include airport developments, telecommunications, toll roads, public transportation solutions, environmental and solid waste disposal, water and sewer outsourcing, sports venues, and affordable housing, among others.
The information contained in this document does not constitute legal advice. Please do not hesitate to contact us should you have any questions or need assistance responding to the many issues, which have arisen out of COVID-19.