By Nolan Miles
P3 Kentucky Staff Writer
A county in Maryland has narrowed its list of potential private-sector investors to partner with for the Howard County $139 million courthouse replacement project.
Three teams will advance to the request for proposal stage following the submission of nine originally expressing interest in partnering for the project. The proposals were submitted following the announcement that a new courthouse will be built on county-owned land to replace the existing 174 year-old historic courthouse.
Howard County has traditionally relied on bonds for construction projects the size of the courthouse replacement, but have transitioned to the P3 model to share the risk with the private sector. The county plans to save $24 million by sharing the risk between the public and private sectors.
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