Member Spotlight: Tom Shea, CO-founder and Principal, The Concourse Group
Location: Annapolis, Md. – Washington, D.C.- San Diego, Calif. – Fort Collins, Colo.
Describe your company’s work in P3s:
The Concourse Group, LLC, is a nationally recognized consulting firm with more than 18 years of experience committed to improving real estate, energy projects, utilities and operational infrastructure. Our clients are federal, state and local governments; universities and colleges; and housing authorities who are driven, in the face of declining budgets, to recapitalize their assets and effectively manage their resources by using public-private partnership (P3) programs.
Why did you join NCPPP and what benefits do you see in your association with the Council?
Access- Not only to other members but also to public officials and other industry leaders through various NCP3 networking events.
Insight- Panel discussions, boot camps, white papers, speeches, newsletters and etc. — are all beneficial in helping our company stay informed about the ever-evolving P3 market.
Influence- By joining other members our unified voice becomes louder and more effective in making change in policy.
Do you have any thoughts on the current status of the P3 market and the types of opportunities or trends that are likely to emerge in the near future?
The current status of the P3 market is favorable compared to five or 10 years ago when the first P3 was almost considered a dirty word in development. The privatization stigma has mostly eroded away but there is still room for us as an industry to educate and improve public perception. Therefore, we are very optimistic about the future of P3s and, as more and more high profile P3 transactions become successful and more and more states enable P3 legislation, interest on both sides of the table will continue to grow. Moving forward we think you will see an increase in unique and innovative P3 projects that have never been seen or thought of before.
What are the biggest challenges the P3 community faces and how should they be addressed?
Two of the biggest challenges facing the P3 community are:
-The inability of elected officials to pass budgets/legislation for infra projects
-OMB scoring restrictions
Both can be addressed by leveraging NCP3 influence with its members and elected officials and engaging other stakeholders to keep the conversation moving toward a solution.