Faegre Drinker Consulting Principal Skip Stitt co-authored an article for Governing addressing how to improve the infrastructure-development process through public-private partnerships.
The authors described how any new federal infrastructure program should provide states and local governments with the flexibility to tap the private-sector innovation and skills to produce new revenues, meaningful savings and operational efficiencies. They also outlined four opportunities:
- Enter into long-term management contracts with guaranteed operational savings and employee protections.
- Insource management talent and world-class best practices.
- Give new life to old assets.
- Devolve regulatory authority.
In conclusion, the authors explained how U.S. policymakers should consider how to best support local governments and how the federal government should waive any requirements for repaying grants if the proceeds from an asset transaction are reinvested or recycled back into infrastructure.