Maryland to launch P3 for school projects
The Prince George County of Maryland will be launching its US$8.5 billion worth of public school projects under the Public-Private Partnership (PPP) scheme.
The State legislature has passed a bill that establishes a framework of how the state would contribute to the PPP program. Prince George County has to wait until the next year to apply for funding for the developments. But, regardless of the State's actions, the county is set to invest up to US$30 million annually into the construction of the school projects for the next 30 years.
According to Angela Alsobrooks, County Executive in Prince George, the PPP model would save up to US$180 million by turning the construction, maintenance, and financing to the responsibility of the partnered private sector. The county is expecting to commence the works of up to seven schools by fall using PPP model.
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