By Nolan Miles
P3 Kentucky Staff Writer
It’s one thing to fund necessary infrastructure projects through public-private partnerships, but P3s can be used for more than just that. Unique projects like the El Paso, Texas Children’s Museum are often possible through city agency funding and nonprofit organizations.
When the city discovered expenses were growing prior to breaking ground on the approved Children’s Museum, they became creative in finding additional funding for the project – Nearly $20 million more than the anticipated budget. Through this public-private partnership, the five-year-old stalemate of a project is one step closer to starting construction.
Nonprofits and city governments are working together more closely through P3 funding opportunities. New York City, for example, has become a premier leading in philanthropic partnerships to advance the inequalities in the city.
Click here to read more about the El Paso Children’s Museum.