Mar 5, 2012
Chris Lloyd quoted in Valley Business Front
"Christopher Lloyd, senior vice president of McGuireWoods Consulting in Richmond, and a leading architect of Virginia's public private partnership laws, says that local entities do cede control of their projects. But that can be remedied if local entities hire a third party firm to oversee the project.
Lloyd says the PPEA law requires public entities to make a written finding that there is some cost savings, or other economic gain under the PPP method, or the public bidding goes into effect. He says he has seen cost savings between 5 percent to 10 percent under the PPP method. He insists quality is not compromised under the PPP because public entities must hire a third party to police the project."
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