New Florida Case Facilitates Public-Private Partnerships

The Florida First District Court of Appeal recently decided Crapo v. Provident Group-Continuum Properties, LLC, which sets forth a rule that should result in more favorable property-tax treatment for P3s in Florida. In general, an economic disadvantage facing privately-owned projects, as compared to publicly owned projects, is the imposition of real estate taxes, which are often around two percent of the property value per year. Although there are many exceptions, in general, privately owned and operated developments are subject to property tax, while government-owned and operated developments are not. P3s, which have elements of both public and private developments, often operate in a legally gray area. In Provident Group, the court analyzed the applicability of a P3 structure where the private partner was tasked with developing and operating student dormitories for the University of Florida (UF), pursuant to the University’s standards. The P3 contract provided…

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