WASHINGTON — Though they can often deliver infrastructure projects faster and at lower long-term cost than traditional procurement, P3s are not a silver bullet and not always the right way to go, according to a new white paper released by the National Council for Public-Private Partnerships.

Many municipalities, facing increasing infrastructure needs and declining revenues, have chosen to attempt to increase revenues rather than turn to alternative ways of financing roads, bridges, water infrastructure, and other public necessities, NCPPP research associate Kimberly S. Meyer writes in the paper. That approach, however, leaves the project’s future funding needs for operations and maintenance open to the appropriations process and subject to possible cuts. Even worse, she continues, is the possibility of deferring the project until the uncertain economy improves.

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