Council Resolution CR-33-2018 Establishes Alternative Financing School Infrastructure Work Group to Explore the P3 Concept in Prince George’s County
The Prince George’s County Council, during the budget adoption session on Thursday, May 24, adopted Council Resolution CR-33-2018 establishing a Public-Private Partnership Alternative Financing School Infrastructure Work Group to explore a Public Private Partnership (P3) concept for school construction and replacement projects in Prince George’s County.
The P3 concept offers an opportunity to create new and innovative methods of constructing, financing, maintaining, and operating public school construction and replacement projects quicker, and without overburdening County resources.
Prince George’s County Council Chair Dannielle Glaros (D) – District 3, during budget adoption remarks, noted the critical groundwork set in place by the Maryland General Assembly for the establishment of a P3 Alternative Financing School Infrastructure Work Group in Prince George’s County.
“The 2018 Maryland General Assembly also enacted SB-92 this session, establishing an incentive pilot program to encourage local school systems in three counties, including Prince George’s, to pursue innovative, public school construction projects,” adding, “The P3 Work Group will reflect a joint commitment to work together to apply this initiative in Prince George’s County by identifying projects and soliciting private sector support. As part of this joint agreement, the Council looks forward to working with our school system and County Executive to hire a consultant to create the structure to launch a Public-Private Partnership, to best address the significant capital needs of our schools.”
Chair Glaros also addressed the potential cost savings and construction efficiencies associated with a P3 approach.
“This creative partnership approach, which could save precious tax dollars in the process, has exciting potential for strengthening our community by helping us to build and renovate our schools faster and better, using a new method of financing, constructing, maintaining and operating public school construction, that reduces contracting and financing costs as well as construction time. It is anticipated that five to seven projects may be initially identified.”
Under the legislation, the P3 Alternative Financing School Infrastructure Work Group will provide quarterly status reports to the County Council, County Executive, the Prince George’s County Board of Education and the CEO of Prince George’s County Public Schools summarizing the status of implementation; key initiatives or studies planned and estimated timetable for delivery of recommendations for program implementation. The first quarterly report will be due on October 1, 2018.
-0-