Griffin Structures is a recognized industry leader in Public-Private Partnership (P3) delivery of public sector facilities. This innovative delivery method assembles a collaborative project team composed of the public sector client and Griffin as program/construction manager and financier, along with proven design professionals and contractors.
As the single-source, responsible and contractual partner, Griffin streamlines the public-private delivery of community-serving social infrastructure projects of all sizes and complexities.
The strength of the partnership lies in utilizing the combined capabilities of both the public and private sectors to achieve project delivery success. Early collaboration among all team members helps to identify potential design-construction incompatibilities, reducing delays and coordination issues. The process integrates design and construction for fast-tracking, resulting in faster delivery times.
Risk transfer from the private to the public sector—and the associated costs and time savings—is the cornerstone of all Griffin P3 projects. Griffin assumes the risk of cost fluctuations; provides schedule and performance guarantees and a Guaranteed Maximum Price for budget certainty; and employs a fully transparent, open-book process, meeting all state public contracting code regulations.
Financing, like all other aspects of P3 delivery, is structured to meet client needs. Design-Build-Finance (DBF) options include tax-exempt bond issues, developer-financed construction, and lease/leaseback structures. Griffin’s cross-disciplinary, collaborative approach can also incorporate future operations and maintenance considerations into the upfront capital decisions associated with new construction or expansion.
The P3 project structure provides many significant benefits to public agencies and, ultimately, to the taxpayers they serve, including, but not limited to the following:
- Project budget locked in early in times of escalating land, construction and financing costs
- Shorter delivery timeframes with a single design-build-finance developer vs. typical design-bid-build model with multiple consultants and contractors
- Minimal initial capital outlay, freeing up agency funds for other capital projects and annual operating costs
- Early cross-discipline collaboration with all project team members results in additional cost and schedule reductions
- Financing options provide annual fixed costs that generally are less than maintenance of inefficient, aging facilities
- Operations and maintenance costs may be incorporated, providing cost-controls and additional future budget certainty
- A transparent, open-book process
- Projects delivered “move-in-ready,” equipped and outfitted, enabling staff to relocate and immediately serve their communities with zero downtime
The P3 structure provides design/build/financing options to deliver public facilities in revenue-challenged times with dramatically reduced public risk in a timely, cost effective manner.