Public private partnership
- City partnership with a privately-owned special purpose entity (SPE).
- City pays for lighting services provided by the SPE (lighting for streets).
- Custom documentation prepared with the SPE.
- Approval required by the city council.
o Pros: Some risks shifted to SPE (fund raising and light repairs).
Possible lower total costs (if the SPE can sell services to others).
o Cons: Long preparation period.
Higher cost of capital for the SPE.
Complex documentation may delay or cancel the project.
Slower realization of savings from the new lights.