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P3 Defined

Lease Develop Operate [ Hybrid ]

P3 Graphic Defined

In a Lease Develop Operate arrangement the project sponsor grants a private operator/developer a long-term lease to operate and expand an existing facility. The private party agrees to invest in facility improvements, and can recover the investment plus a reasonable return over the term of the lease.

Projects

Pocahontas Parkway / Richmond Airport Connector