public-private partnership

noun1

1. •
   An arrangement by which one or more private firms agrees to fund, create, or operate a facility, service, or other element of public infrastructure (such as a school, hospital, or highway) which is usually the sole responsibility of government, in return for all or some of the revenue generated by that facility or service.

   • Just outside the nation's capital, a $1.9 billion public-private partnership will finance new high-occupancy toll lanes around Washington. — 2008