Recent events concern me as a threat to sustaining a meaningful dialogue on 21st century development trends and the need for the associated infrastructure and systems in our region.
This brings me to the complexities of what is known as 3P — Public-Private-Partnership — as a viable option in addressing major capital improvements in and around the Calumet Region.
There are many different P3 structures, and the degree to which the private sector assumes responsibility — including financial risk — differs from one application to another. Additionally, different types of P3s lend themselves to developing new facilities and others to operating or expanding existing assets.
The importance and timeliness of this funding option should be obvious given the economic climate the world, nation and region find themselves in. Public funding as we have known it has become less viable because traditional funding sources simply are not providing the funds to address massive construction projects…Please click here to read the rest of Mike Scholefield’s editorial in the Times.