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Oct. 12, 2023
Why prog doesn’t always rock: What are the downsides to progressive P3s?
P3 Bulletin
Nelson Mullins partner Robert Alfert was recently quoted in a P3 Bulletin article that was published in September.
The article discusses the new progressive public-private partnership (P3) model and some potential concerns to keep in mind when using it. “My one concern is sticker shock,” said Alfert. “By the time you get to the point of progression, where you are seeking the actual GMP [guaranteed maximum price], you could have been working on this project for six, 12, 24 months – guess who has all the leverage there.”
“Once you get to that point of pricing the proposal, you’re committed,” Alfert told the outlet. “For the authority to walk at that point could be disastrous, and the contractor knows that. You may be paying more for it.”
P3 Bulletin subscribers can read the full article here.
Established in 1897, Nelson Mullins is an Am Law 100 firm of more than 1,000 attorneys, policy advisors and professionals with 33 offices in 17 states and Washington, D.C. For more information, go to www.nelsonmullins.com.
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Caroline Balchunas
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