That desire to find a better option is why we sought to bring public-private partnerships to Kentucky. In the enduring debate of which can do a job better — government or business — we asked: Why can’t it be both?
The need for major investments in public infrastructure is unquestioned. The 2017 Infrastructure Grade Card says that our nation’s built environment – its public streets and highways, schools and parks, water and sewer facilities – deserves a dismal D+. At this point, we’re an estimated $4.59 trillion behind.
In Kentucky, our schools need an estimated $453 million of capital improvements. More than 4,000 bridges and overpasses – rated as deficient or functionally obsolete – need repair or replacement. And water and sewer systems in communities across the Commonwealth need a staggering $12.44 billion in improvements.
Don Parkinson has become the point man for public-private partnerships for Gov. Matt Bevin’s administration. Parkinson, secretary of the Kentucky Tourism, Arts and Heritage Cabinet, talks about how P3s can support the state’s $13 billion tourism industry.
If you’ve traveled recently across the Commonwealth – or across the country – you’ve probably seen them. Construction workers. Cranes and bulldozers. New buildings and burgeoning developments. It’s the signs of progress.
Kentucky’s new P3 law went into effect in 2016 and was updated during the 2017 legislation, providing a distinct delivery method for capital projects, services, and major transportation infrastructure.
Kentucky Sen. Max Wise has been one of the strongest advocates for passage of legislation to allow public-private partnerships in Kentucky. He was a sponsor of the original legislation that passed in 2016 and helped drive legislation in 2017 to update the Commonwealth’s P3 laws.
For over 50 years now, countless vehicles have traveled from Northern Kentucky into Ohio, and vice versa, on the Brent Spence Bridge. Whether to transport goods, travel or engage in commerce, Brent Spence has been heavily utilized over the years, and this traffic has taken its toll. Currently operating at nearly three times what it was designed to carry, a new bridge is essential, yet this project has repeatedly been kicked to the curb. However, thanks to the current administration, the needs of Northern Kentucky, Greater Cincinnati and the entire Midwest could soon be placed near the front of the line in Washington, D.C.
At a recent meeting of the Kentucky Magistrates and Commissioners Association, hundreds of county leaders got an overview of the state’s newest financing tool from a group of leaders who worked to pass Kentucky’s P3 law.
P3KY.com is sponsoring a panel discussion about public-private partnerships on Friday, April 21. It will include discussion of Kentucky’s recent changes in legislation governing P3s and how local leaders might be able to use this tool to move forward long-awaited projects in their communities.