Interest in using P3 approaches to develop and finance transportation improvements has increased in recent years due to the convergence of a number of key issues. They include growing travel demand, rising capital costs, constrained funding, aging infrastructure, and increased pressure on shrinking budgets. These trends reinforce the need for innovative solutions to meet transportation investment needs. Alternative delivery strategies are attractive to public agencies, particularly when resistance to new or increased taxes persists. P3's provide project sponsors with a number of potential benefits, including access to new sources of financing, reduced capital and life cycle costs, and the potential to accelerate the completion of needed projects.