Staff member explains P3 as a public-private partnership backed by Florida statutes

A staff member explained that "P3 stands for public-private partnership," describing the model as one in which a public agency partners with a private developer to complete a project.

The staff member said the arrangement "marries the two agencies or the two entities together" and argued the private partner can deliver work "way faster than we can" and at "lower cost," citing the time value of money as a reason projects can be less costly when delivered by a private partner.

The presenter said the approach is supported by Florida statutes and called it a "fully vetted process that's used all over the state," noting that "every county has has done a P3 at this point" and that schools also have used the model. The staff member added that specialty contractors focus on P3 work.

A participant responded that the model "sounds new to us," and the staff member reiterated that, while it may be unfamiliar locally, it has been used elsewhere in Florida. The discussion did not include a formal motion or vote and ended without a recorded decision on adopting or pursuing a P3 for a specific project.