NEW YORK, June 28, 2013 /PRNewswire/ -- Inspired by awareness raised by P3 Global Management, the United States Conference of Mayors (USCM), which represents more than 1,300 cities from across the nation, unanimously passed a key resolution that will change the landscape of public-private partnerships (P3s). The resolution, titled "A NEW ERA FOR PUBLIC PRIVATE PARTNERSHIPS TRANSFORMING SMART CITY TECHNOLOGY AND SUSTAINABILITY INFRASTRUCTURE," was passed at their 81st Annual Meeting.
P3 Global Management (P3GM) works with cities to modernize their landscapes to be more technologically connected and enrich experiences for residents, businesses and visitors, driving economic development by attracting jobs, creating new non-tax revenue streams for cities and promoting tourism. To make this possible, P3GM brings private sector funds and resources to bear, financing infrastructure improvements with no cost to cities.
P3GM stands with a growing number of Mayors who demonstrate their leadership and commitment in promoting smart city technology and sustainable infrastructure through the use of P3s. Chair of the USCM Environment Committee, Mayor Joy Cooper of Hallandale Beach, FL, has leveraged P3s in the past to combat challenging issues in her city and understands how innovative uses of P3s can positively impact local communities. She stated, "I believe it's absolutely necessary that we renew and strengthen our infrastructure to help our communities bounce back from disasters and disruptions in a sustainable way and maintain a good quality of life for all. One way of achieving this is to incorporate smart city technology which will improve energy efficiency and harness innovations in information technology to optimize performance."
Los Angeles, CA Mayor Antonio Villaraigosa has aggressively bolstered Los Angeles' public transit system in an effort to address environmental issues and realizes the growing need for P3s to build infrastructure and ensure the vitality of local economies. During his outgoing speech at the USCM meeting he noted that "America is the only place in the world that doesn't do P3s to build infrastructure." He believes that if America fast tracks the adoption of P3's, cities will have access to an array of financing which can ultimately help integrate smart city technology into their infrastructure.
P3GM's engagement at the annual meeting was a follow-up to their engagement in the Clinton Global Initiative Americas Infrastructure Financing for Cities Working Group where they announced their new city-focused economic commitment via "smart city infrastructure."
To learn more about P3GM watch their informational video at Http://bit.ly/P3GlobalM.
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CONTACT: Rhonda Binda, 646-770-4758
SOURCE P3 Global Management