build, lease, transfer (BLT)

Financing arrangement in which a developer (1) designs and builds a complete project or facility (such as an airport, power plant, seaport), (2) sells it to the government or a joint venture partner, (3) simultaneously leases it back (usually for 10 to 30 years) to operate it as a business and, after the expiry of the lease, (4) transfers it to the government or partner at a previously agreed upon or market price. See also build, own, operate, transfer.