2018 Vermont Statutes
Title 19 - Highways
Chapter 26 - Design-build Contracts And Public-private Partnerships
§ 2612 Definitions
§ 2612. Definitions
As used in this subchapter:
(1) "Facility" means transportation infrastructure that is, or if developed, would be, within the jurisdiction of the Agency or eligible for federal-aid funding managed through the Agency.
(2) "Project" means the capital development of a facility.
(3) "Proposal" means a conditional offer of a private entity that, after review, negotiation, and documentation, and after legislative approval if required under this subchapter, may lead to a P3 agreement as provided in this subchapter.
(4) "Public-private partnership" or "P3" means an alternative project delivery mechanism that may be used by the Agency to permit private sector participation in a project, including in its financing, development, operation, management, ownership, leasing, or maintenance.
(5) "P3 agreement" means a contract or other agreement between the Agency and a private entity to undertake a project as a public-private partnership and that sets forth rights and obligations of the Agency and the private entity in that partnership. (Added 2017, No. 158 (Adj. Sess.), § 20, eff. May 21, 2018.)
