Infrastructure Advisors LLC was selected as P3 Advisor to the State of New Jersey, Department of the Treasury, Office of Public Finance. On August 14, 2018 Governor Murphy signed P.L. 2018, c.90 (S-865) into law. The law allows a school district, municipality, county or other state entity to enter into a public-private partnership (P3) agreement with a private organization that would assume the financial and administrative responsibility for the development, construction, reconstruction, repair, alteration, improvement, extension, operation, and maintenance of a government-related project. The law requires local public input and finance controls, as well as land use and financial approvals, should a municipality, county, or school district pursue a P3 project. The law also tasks the Department of the Treasury with coordinating the review and approval of proposed P3 projects.
The review includes an analysis by a P3 advisor selected from a pool of qualified P3 specialists that have been vetted by the Office of Public Finance.