Public-private partnerships could offer some new and useful financing options for New York’s infrastructure needs but they come with risks, according to a report released by the state comptroller’s office Monday.

The report released by Comptroller Thomas DiNapoli said that protecting the public from risks could mean limiting private-sector profits, which in turn could make P3 projects less attractive to the private sector. Those risks include underestimating the value of public assets and short-changing the public, including pricing mechanisms that burden the public with excessive fee or toll increases, unrealistic expectations of public benefits, and use of P3s as one-shots that provide short-term benefits while pushing costs into the future.

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