Nossaman Partner Barney Allison Quoted in Law360 on P3s
Nossaman Partner Barney Allison was quoted extensively in the Law360 story, "5 Things You Need To Know About P3s." The story provides an overview of what developers, financiers and project sponsors need to know about P3s, and notes that the profile of P3s is on the rise as the model becomes increasingly attractive to local governments struggling to come up with enough funding for needed infrastructure. Allison commented that public agencies should carefully consider what P3 model to choose for upcoming projects, stating that, Picking the right model depends on the project’s scope and purpose. One size doesn’t fit all, and there isn’t one delivery model; there are variations of it. He also noted that since large infrastructure projects involve long-term operations and several maintenance risks, private developers can't be expected to assume project completion without receiving some kind of return on their investment. What you look for is the ‘sweet spot’ where the allocation of risks, return on investment or pricing of the contract, and the competitive process during the bid stage produces more benefit to the public than if the public were to assume these risks itself, he said.