public-private partnership

public-private partnershipnoun

• 1

  businessgovernmentAn arrangement by which one or more private firms agrees to fund, create, or operate a facility, service, or other element of public infrastructure (such as a school, hospital, or highway) which is usually the sole responsibility of government, in return for all or some of the revenue generated by that facility or service.

  • Secretary of the Interior Douglas McKay, who will lead the administration's side of the fight, has long argued that power resources should be developed through a public-private partnership, with private enterprise being given projects that it is willing and able to build.
  • In 1955, Congress passed the Presidential Libraries Act, which created a public-private partnership: an ex-President would raise money to build his library, but Washington would pick up most of the tab for maintaining the documents housed there.