P3 Kentucky Staff Writer
Speakers at the Society for College and University Planning annual conference in Washington D.C. recently discussed how institutions should consider public-private partnerships as more than a model to fund new university infrastructure, but to also consider long-term financial consequences.
In the last few decades, universities have used the P3 model to fund projects apart from the typical dormitory. Universities in California have launched long-term projects that will require partnerships with developers for up to 65 years as they maintain new facilities like college hotels and additional student housing.
“What we’re trying to do now is pull together our shared experiences and develop some agreement templates and take some of the best practices that we’ve seen, look at things like the way you would analyze a project through the negotiations as the terms change,” said Colin Donahue, vice president of administration and finance at Cal State Northridge. “We want to be known in the development community as a system that has our act together and is attractive to work with.”
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