As their fiscal woes become worse, some government officials are looking more closely at public-private partnerships as a way to jump-start their economies.
For state and local governments, the pandemic has brought financial gloom: Tax collections are down, public health expenses are up, and their infrastructure backlog is growing. Hope for swift relief from Congress was dashed late last year when the Senate refused to go along with a House plan to bolster state treasuries.
For developers and real estate investors, it all spells opportunity.
The fiscal challenges could spur new ways for the private sector to collaborate with state and local governments, said Gabriel Silverstein, managing director of SVN Angelic, a real estate investment and advising firm in Austin, Texas.
The New York Times
By Miranda S. Spivack
Jan. 19, 2021