Procurement of government funding, particularly for infrastructure improvements, is a very fluid process. While that is the case, there is an argument to be made for having a process in place to help with funding for badly needed infrastructure projects. A streamlined funding process would make these necessary repairs much more efficient.
Is there an alternative method of infrastructure funding that is more efficient than our current system? We believe that Public-Private Partnerships (also known as P3) allow for more efficient management of public utilities and assets while eliminating frustrating delays due to funding constraints.
In this post, we will share about the need for a more efficient project funding process as well as the many problems that P3 funding solves.
From past history to the current day, one can easily see the mountain of inefficiencies present with public or government procurement for funding. The fact of the matter is that the government is inherently not set up to be efficient. This is evident in many areas. However, it is particularly apparent when it comes to funding for infrastructure improvements.
The massive project that is rehabilitating America’s vastly degrading infrastructure demands efficiency. There is simply too much infrastructure across the country that is in dire need of repair in a short period of time. Without these much-needed repairs, public health and safety will be in jeopardy. This situation beckons us not to depend on the traditional models of infrastructure project funding.
Due to the scope and size of the infrastructure rehabilitation needs in America, it is imperative that we look at alternative methods of funding for these much-needing infrastructure repairs. Two areas that are in dire need of timely intervention are the transportation and utility infrastructure across America. As some of the oldest and most relied-upon assets within our country, the decline of this crucial infrastructure creates a need for efficient intervention.
While there are several alternative funding methods, we believe that the best option is a Public-Private Partnership. Public-Private Partnerships, also known as P3s, have been widely successful in other parts of the world. The P3 funding method has also proven to be a success within the DOT sector.
Lack of efficiency in the funding process by public entities.
Provides an option for more efficient management of public utilities and transportation assets.
Solves delays in project start dates due to funding constraints.
Provides a more optimized return for constituents on tax dollars utilized for infrastructure improvements.
As you can see, the traditional methods that have been used to fund infrastructure rehabilitation projects present several issues. With the increasing demand for massive infrastructure repairs across the country, this traditional method simply will not work.
Using the P3 method for infrastructure funding solves these critical issues that we have experienced for many years.
Doing so allows each party to do what they do best. Because of this, the project is completed on a much quicker timeline with optimal results. In many cases, the public sector does not specialize in infrastructure rehabilitation. By partnering with a private sector company, they eliminate wasted materials and manpower, reducing the overall cost of the project.
By using alliances between public entities and private sector companies, a P3 is an excellent way to complete necessary projects that benefit the public and municipalities. It is no secret that government funding is limited and options for borrowing are few and far between. P3s are becoming a popular method for financing and upgrading infrastructure in a way that is beneficial to both public sponsors and the communities that rely on them.
When it comes to infrastructure rehabilitation, a P3 ensures that the project is completed efficiently, effectively, and with optimal results.
There are many reasons why we believe that P3 is the best solution to infrastructure funding given the current needs and concerns. A Public-Private Partnership is a long-term relationship between the public and private sectors.
In this long-term partnership, the private sector finances the project. This allows the government funds to be redistributed to other areas. Because of this, lengthy delays due to funding constraints are eliminated.
P3s can be structured in various formats. This flexibility allows for tremendous opportunities when it comes to moving forward with vital infrastructure improvements.
We can all agree that vital infrastructure such as water and wastewater structures and roadways are, in many cases, past the point of their useful service life. As such, we can no longer afford to “kick the can down the road”. Rather, we must move forward with infrastructure rehabilitation across America.
In doing so, we no longer have to let funding stand in the way. We have seen that there are alternative solutions, such as P3, to renew the infrastructure that we all depend upon.
Sprayroq partners with Signet Capital to provide important infrastructure rehabilitation using our structural protective lining systems. Through P3 partnerships, we are able to accomplish much-needed repairs on critical infrastructure across America. We believe that this alternative method to traditional project funding is the best way to accomplish these necessary repairs in a timely manner.
Two areas that are in the greatest need of repair are the transportation and utility infrastructure across the country. Sprayroq provides a quick response with the ability to repair underground infrastructure such as transportation or utility assets in a matter of minutes!
Sprayroq quickly puts an end to infrastructure corrosion or infiltration, preventing the potential for more serious infrastructure failure. By restoring structural integrity and function to infrastructure assets across America, we can eliminate public safety hazards.