Earlier this week, the Kentucky Finance and Administration Cabinet (FAC) filed an administrative regulation to enable the development of projects provided through the Public-Private Partnership (P3) model. The Ky. Chamber celebrated the passage of P3 enabling legislation this past session after the third year of working to pass the bill.
The legislation called on the FAC to promulgate a regulation that sets forth the criteria to be considered when determining if a P3 arrangement is suitable to develop a certain project. The 7-page regulation sets out the qualitative aspects to be considered as well as the quantitative analysis required for review.
The regulation also establishes procedures for submitting unsolicited bids to the state or to local governments as well as procedures for submitting proposals to the Kentucky Local Government Public-Private Partnership Board established by the legislation.
Ashli Watts, Ky. Chamber VP for Public Affairs, commended the cabinet for their hard work, “This legislation only took effect last month and the Cabinet worked quickly to file the rule well in advance of the deadline. We appreciate the support and attention the administration has given to the role P3s can have on improving and expanding Kentucky’s infrastructure.”
The regulation will be printed in the Sept. 1 Administration Register of Kentucky. A public comment period will conclude at the end of the day on Sept. 30. In addition to accepting written comments, a public hearing is scheduled for Sept. 22 at 10 a.m. Please see the register for a complete notice of the comment period and public hearing procedure once it posts.
A link to the Register when published on Sept. 1 can be found here: http://www.lrc.ky.gov/kar/frntpage.htm