Dotson: With respect to real estate developers in particular, you’re finding that through the Obama administration there are funds available to support projects—but there may not be sufficient funds to complete those projects. That’s where the private sector and public sector come together to move forward an idea or to begin construction.

Developers who almost exclusively operate in the private sector are looking at affordable housing development that’s funded in part, or at least supported in part, by the public sector or government. Instead of issuing bonds to pay for 100% of the construction and the operation, you’ve got private sector involvement to help fund the construction itself. So you are taking a lot of the construction capacity and keeping people at work by virtue of the public-private partnership.

LeClaire: What types of projects are being funded most?

Dotson: We’re definitely seeing public works projects similar to the expansion of the Port of Miami. We also have a tunnel—again a huge public works project—being built in order to provide easier access to our cargo vessels. But there is also a need for housing that is available to the workforce. There is a rise in taking advantage of some of the housing stock that’s here and re-converting it or taking advantage of the various federal and state programs to build new affordable residences.

LeClaire: What are the challenges in this arena?

Dotson: Part of the challenge is for public officials to make sure there is a return on the investment. That return can come in many different ways. It can come in the form of a direct payback if it’s a loan. It can come in the form of increased tax base that the community can benefit from in connection with the infrastructure needs that it has and providing police and fire services, etc. The return on investment can come from real, long-term job opportunities.

LeClaire: What is the outlook ahead? Will we see more of these types of projects as the economy continues to rebound?

Dotson: The more success government has with moving forward the public’s agenda by seeking the support of the private sector, the more you will find private-public partnerships as commercial activity evolves. That’s not to the exclusion of just private investment or just public investment in connection with the project. But addressing the needs of the public sector with the ingenuity of the private sector will remain a part of the commercial reality here.