Denver considers P3 office for vetting large projects

Colorado– Denver has a $1 billion plan for the National Western Center campus. The only issue is, funding subsequent phases of the project. City leaders are considering a series of public-private partnerships (P3) for those projects. Part of the plan includes creating an office dedicated to vetting and overseeing such projects. Projects deemed large enough to warrant P3 treatment would go through five stages: planning, screening, structuring, procurement and implementation. The office would include an executive director, an attorney and a financial specialist.

 

The city budgeted $2.5 million for the creation of a P3 office but it requires council approval. The city’s portion of the campus project amounts to $765 million but the remaining balance is unfunded. Later phases that need funding call for a 10,000-seat arena, a large exposition hall, the redevelopment of the Denver Coliseum and the retrofitting of the century-old Stadium Arena to turn it into a market.