Florida– Last week, Miami-Dade County, the largest county in Florida, passed new legislation regarding public-private partnerships (P3). The legislation, which was unanimously approved, closely follows state regulations. The main difference between the two is that under the county’s legislation, unsolicited proposals require significantly more detail, including information on how the proposal will utilize community-based subcontractors and benefit the community. Additionally, the new ordinance provides deadlines for the administration to respond to unsolicited proposals, eliminating uncertainty surrounding the process.
The new ordinance is expected to pave the way for a planned courthouse project. The county has identified $50 million in capital funds that could be applied towards the project. In addition, the costs of operating the existing county courthouse are approximately $3 million per year, which the county has indicated may be applied towards availability payments. The county may also make available certain valuable real estate properties to a private developer in the form of a long-term lease or other partnership as partial consideration for the development and operation of the project.