MIAMI-With state and local government budgets remaining tight—and liquidity for new commercial and residential real estate construction still hard to come by—many public entities and private organizations are forging symbiotic relationships that are financing critical projects that would otherwise be impossible to fund.

South Florida is a strong example. Look no further than the Port of Miami dredge project, Tri-Rail mobility project, Miami Art Museum, and UM Life Science & Technology Park for current examples of local and regional public projects with private financing. With millions
of dollars of bond money expected to flood the state over the years ahead, public-private partnerships are poised to become even more important.

GlobeSt.com caught up with Al Dotson, a partner in the Land Use & Zoning and Government Relations Practice Group at Bilzin & Sumberg in Miami, to discuss how the role between the government and the private sector has evolved, the challenges of pulling off public-private partnerships in real estate, and the outlook for these projects.