October 14, 200—Public/private partnerships, while not a new concept, are being used far more frequently in urban economic development throughout the US, says the Urban Land Institute (ULI). Ten Principles for Successful Public/Private Partnerships, recently published by ULI, explores strategies for building partnerships, and provides profiles of development projects around the country where public/private partnerships have been used in urban development.
The booklet points to the use of the partnerships as a trend in urban growth, noting that the partnerships spent $75 billion on economic development and urban renewal projects during 2004.
Public/private partnerships offer the best solution for building a variety of projects, including mixed-use developments, public facilities such as convention centers, and affordable housing. Diminishing public resources are creating a need for more of these partnerships between the public and private sectors, the publication notes.
ULI is a nonprofit education and research institute supported by its members. Its mission is to provide responsible leadership in the use of land in order to enhance the total environment. For more information, visit the ULI Web site.
