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CONSTRUCTION FUNDING February/March 2016 airportbusiness 19 construction industry with many benefits for all parties when successfully accomplished. A NEW MODEL Public-private partnerships are increasingly being used in the United States to facilitate the deliv- ery of major infrastructure projects in the trans- portation sector, where its use can accelerate the timeline for completion. The Design-Build- Finance-Operate-Maintain (DBFOM) model is relatively new, but currently gaining popularity in public infrastructure projects such as roads, bridges and airports. DBFOM requires a long-term involvement in the project by the developer and gives the public agency the assurance of stability in both financial and practical ends. The Port Authority of New York & New Jersey recently announced that LaGuardia Airport's redevelopment will be delivered by this meth- od. Construction of the project will be funded by a public-private partnership, with the private sector contributing about $2 billion and the Port Authority contributing over $1 billion to construct the airport and supporting infrastructure. Most recently, Los Angeles World Airports (LAWA) announced they would pursue this model to deliver a world-class transportation system to Los Angeles International Airport through the estimated $5 billion Landside Access Modernization Program, which will be the larg- est public-private partnership procurement in the history of California. P3 models are popular to help finance large infrastructure projects that normally a public entity can't afford on its own.