The economy is flat, resources are limited, and the traditional procurement process makes it difficult to secure funding and complete projects. If that wasn’t enough, limited access to capital markets makes it difficult to address failing infrastructure. A public-private partnership can improve the quality of life for members of the community while solving your infrastructure challenges. A true partnership gives you a number of benefits:
Solve for a slow and expensive traditional procurement process
Leverage the private procurement process
Historically, governments implement one-third of their projected capital planning due to siloed budgeting and procurement and implementation efficiencies. Traditional procurement requires governments to break down a complex infrastructure project into individual projects and take a design-bid-build approach.
It’s a race against the clock that we are equipped to win. The County is unleashing the efficiencies of the private sector for the public good to the Partnership and is dedicating tremendous resources that will result in a state-of-the-art stormwater management center and serve as the benchmark for other Counties, States, and Countries trying to accomplish the same.
Adam Ortiz, Director, Prince George’s County Department of the Environment
Achieve financial stability
The Corvias partnership concept finances the initial phase of development and ongoing redevelopment and maintenance needed after the initial phase of development is completed. To achieve short- and- long-term goals, the debt structure secures funding throughout the entire life cycle of the program, including design, construction, maintenance, and management.
Expand your access to more capital markets
Corvias maintains relationships with placement agents that have ready access to capital. They have a wealth of experience in the private placement markets. Together with our financing partners, we have secured $3.5 billion for 28 existing partnerships with our higher education and government partners.
Maintain ownership and control
Imagine being able to maintain control of all of your assets, cash flow, and decision-making from start to finish.
| Corvias | Others | |
|---|---|---|
|
School maintains ownership and control; Collaborative governance structure with Institution | Limited School control given to financing entity |
|
Institution Program-driven, holistic long-term sustainable, and flexible solution for campus and greater community | Project-driven, only addresses housing |
 Alignment of Interests |
Long-term program with students and campus as priority | Short-term transactional approach |
 Financial Solution |
Flexible, created for School Program | Rigid, driven by IRR for project |
|
100% to School for entire partnership | 0% to School until IRR of the project is satisfied |
 Excess |
Reinvestment Reserve for long-term Development Program | Distributed to Developer |
|
Open book process for finance, design, and construction | Closed book |
 Community Commitment & Investment |
Long-term and integral to program solution; Utilize local industry experts | Short-term and limited to project transaction |
|
Limited penalty; No payment due to Corvias if terminated for cause | Significant financial penalty |
Solve infrastructure challenges and spur economic development
Project Sustainability
Corvias is incentivized to keep the partnership strong for the entire life of the partnership. We are paid a fixed fee and performance-based fees. Cash flow is reinvested into the partnership to make sure you get your assets returned to you in like-new condition.
Community Investment
Public-private partnerships have the power to be economic engines that drive job creation, business development, and commercial growth. Corvias has a strong history of community investment. Not just building relationships within the community, but also in helping to build it. The Corvias team has contracted more than 80% of subcontracts in our partnerships to local, small, minority, and women-owned businesses.
| SB Concern | Percentage Commitment | Subcontracted Dollars |
|---|---|---|
| SB Concerns | 82% | $1,353,593,291 |
| Small Disadvantaged Businesses (SDBs) | 5% | $88,991,476 |
| Woman-Owned SBs (WOSB) | 13% | $213,290,962 |
| Veteran-Owned SBs (VOSBs) | 5% | $85,116,344 |
| Service-Disabled, VOSBs (SDVOSBs) | .5% | $11,181,568 |
| Similar P3 Programs | Subcontracted SB Dollars | % of Subcontracted Dollars to SBs |
Subcontracted MBE Dollars | % of Subcontracted Dollars to MBEs |
|---|---|---|---|---|
| Clean Water Partnership | $5,535,771 | 66.0% | $790,669 | 9.4% |
| USG Portfolio | $30,628,934 | 21.1% | $8,621,070 | 5.9% |
| Fort Meade | $257,887,173 | 83.3% | $4,220,531 | 1.4% |
| Fort Bragg | $504,36,515 | 80.5% | $13,227,047 | 2.1% |
| Fort Polk | $197,456,734 | 71.7% | $28,749,598 | 10.4% |
| Fort Rucker | $121,571,760 | 92.8% | $11,367,708 | 8.7% |
| Fort Riley | $384,498,260 | 81.3% | $25,505,539 | 5.4% |
| Fort Sill | $116,772,014 | 75.3% | $10,877,508 | 7.0% |
| APG | $39,596,223 | 71.6% | $7,796,340 | 14.1% |
| TOTAL | $1,153,946,869 | N/A | $111,156,010 | N/A |
Be a valued community partner
We have designed our Core Principles to consistently empower every member of our team to reach higher in how we develop partnerships and give back. We encourage team members to look for creative ways to come up with better solutions to their greatest challenges. While each partnership has its own set of priorities and goals, at Corvias our objective is to help our partners address specific societal challenges. We understand that diminishing resources are impacting our communities and limiting their ability to “do more with less,” and we strive to allow our partners to create opportunities from these challenges. By investing where we live and serve, Corvias ensures that each partnership truly benefits the community in which it is located. Among our 28 partnerships to date, Corvias has invested a total of $2.1 billion in our communities through actual program contracting, with the majority going to local and small businesses, as well as significant community giving.
True Mentorship
With this first-of-its-kind public-private partnership for green stormwater infrastructure, Prince George’s County is leading the way for communities across the country. The Clean Water Partnership actively mentors new entrepreneurs as well as students. Our Mentor Protégé Program graduated seven business owners in its first phase. Five more than our original goal. Support and training includes business coaching, project schedule development, meeting facilitation, bonding and much more.
The Clean Water Partnership Helps Local Small Business Owners
Partnership with Prince George’s County Public Schools
The Clean Water Partnership together with Prince George’s County Public Schools (PGCPS) launched the CWP Schools Program, a pilot program that helps PGCPS treat and manage stormwater runoff from impervious sites. This community-based approach helps the County achieve its stormwater compliance goals, while engaging school facilities staff, educators and students.
Green Business of the Year, Prince George’s County Chamber of Commerce (2015)
Excellence in Business Award recipient for demonstrated commitment to green infrastructure, economic growth, and community development.
Commitment to Action, Clinton Global Initiative, Infrastructure for Cities and States Working Group (2015)
Feature of the Infrastructure for Cities and States working group at the Clinton Global Initiative recognizing economic drivers and engines to grow disadvantaged business concerns.
High Road Infrastructure Project, Build America Investment Initiative (2015)
White House recognition for creating positive environment and social outcomes through large-scale community infrastructure projects.
The Natural Resources Defense Council discusses why we should do things
differently with our aging infrastructure and how Corvias is leading the way.
Corvias leaders are true listeners. Throughout the procurement process and into the initial partnership of Phase I, Corvias has consistently listened to priorities expressed by the BOR and the nine Phase I institutions while remaining flexible and responsive to the varying and changing needs of such a complex, diverse program. From our first interaction, Corvias has demonstrated a clear commitment to partnership and continues to place the success of the USG institutions and students as their primary goal.
Susan Ridley, Associate Vice Chancellor for Fiscal Affairs | Board of Regents of the University System of Georgia.