Tamara Rollison 804-786-2715
Nov. 12, 2014
COMMONWEALTH TRANSPORTATION BOARD ADOPTS P3 REFORMS
The Commonwealth Transportation Board (CTB) today approved reforms to increase transparency and competition and to better evaluate the public’s risk for transportation projects delivered under the Public Private Transportation Act (PPTA), also known as the P3 process. The reforms are outlined in new guidelines following a six-month long public outreach effort that resulted in suggestions for improvements from more than 100 individuals, companies and organizations.
“The McAuliffe administration is committed to an open and competitive P3 process that delivers essential transportation projects by maximizing private sector investment and innovation,” said Transportation Secretary Aubrey Layne. “While a valuable tool to deliver certain projects, the P3 process had to be reformed to draw clear lines of accountability, strengthen competition, increase transparency and public engagement and minimize the risk to taxpayers. Over the last several months, the Virginia Office of Public-Private Partnerships (VAP3) conducted a public review of the P3 guidelines and incorporated many suggestions, including increasing the role of the CTB. The Virginia Department of Transportation (VDOT) also developed better ways to assess risk with P3 and design-build projects, so taxpayers’ best interests are protected.”
P3 reforms include:
Engaging decision makers and increasing transparency -
- Involve CTB members and lawmakers (chairmen of the House and Senate Transportation Committees) as members of PPTA Steering Committees, which independently review potential P3 projects.
- Provide reviews at critical project milestones with the CTB; the board will take a more active role throughout the life of a P3 project.
- Inform legislators on the proposals early in the process and during critical phases.
- Engage the public at every stage of the P3 process.
Increasing competition -
- Score P3 candidate projects under House Bill 2 to determine the value and need of transportation improvements.
- Move unsolicited proposals into a standard competitive process.
- Maximize competition; should only one proposal be received during the Request for Proposals, the commonwealth will conduct a full value assessment of the proposal to determine if best value for taxpayers remains.
Minimizing risk -
- Identify project risks early in the P3 process; and continue assessing risk throughout the P3 project development and procurement stages with briefings to the CTB at critical project milestones.
- Establish the P3 project’s scope and risk profile; this information - Findings of Public Interest - will be made public at critical stages in a P3 project’s development.
- Restart the procurement process if there are significant changes to project scope, size or complexity.
Additional details and the draft 2014 PPTA Manual are posted on www.vappta.org.
Information in VDOT news releases was accurate at the time the release was published. For the most current information about projects or programs, please visit the project or program Web pages. You may find those by searching by keyword in the search Virginia DOT box above.