P3 Canada Fund to focus on infrastructure projects that leverage private sector expertise, promote jobs, support economic growth and deliver value for Canadians
OTTAWA, April 16, 2012 /CNW/ - Today, PPP Canada launched Round Four, call for proposals for the P3 Canada Fund, encouraging provinces, territories, First Nations and municipalities to consider the P3 model in delivering their public infrastructure priorities.
The Government of Canada is committed to ensuring that investments in public infrastructure contribute to Canada's long-term economic growth and deliver maximum value for Canadians. As part of this commitment, PPP Canada's focus in Round Four will be on public infrastructure projects that promote jobs and stimulate economic growth including transportation, water/wastewater, solid waste disposal and brownfield redevelopment related projects.
"Under Round Four, PPP Canada will continue to support the development of innovative P3 projects," said John McBride, CEO of PPP Canada. "Preference will be given to those projects that demonstrate substantial involvement by the private sector throughout the project's life cycle and provide evidence that as a P3 the project will deliver value for money compared to traditional procurement."
PPP Canada works with other levels of government to promote the effective use of P3s through advocacy, expertise and the strategic use of the P3 Canada Fund. By offering advice and expertise to its clients, PPP Canada ensures proper due diligence is followed across all stages of the project development lifecycle. The result is a well-structured procurement that is well planned and follows best practices ensuring transparency, fairness and competiveness.
To date, PPP Canada has announced more than $109 million in funding commitments under Rounds One and Two to seven projects, encouraging the continued development of the market for P3 projects in Canada into new infrastructure classes. Round Three announcements are expected in the coming months.
About PPP Canada and the P3 Canada Fund
PPP Canada has a mandate to improve and increase the delivery of public infrastructure by achieving better value, timeliness and accountability to taxpayers, through P3s.
PPP Canada acts as a leading source on P3 matters through knowledge development and sharing. In addition, the Corporation provides expertise and advice in assessing and executing P3 opportunities at the federal level as well as leveraging greater value for money from federal investments in provincial, territorial, municipal and First Nations infrastructure through the P3 Canada Fund.
The $1.2 billion P3 Canada Fund is a merit based program, designed to incent the use of P3 procurement in delivering public infrastructure projects. Eligible projects can receive up to 25% of the direct cost of construction supported through non-repayable contributions, repayable contributions, loans or loan guarantees. The $1.2 billion is committed over a 5 year period starting 2009/10 and is allocated to PPP Canada on an annual basis, subject to approval by Parliament.
PPP Canada expects the Fund to directly leverage $5 billion in P3 infrastructure investments across Canada. In addition, these combined sources of funding will be used to underpin in excess of $5 billion in private capital Financing.
To assist Round Four applicants in preparing their submissions to the P3 Canada Fund, PPP Canada has developed an Application Guide which provides detailed information of the Fund's eligibility and evaluation process and detailed instructions on how to prepare a submission. In addition, PPP Canada has created a P3 Business Case Development Guide which outlines the necessary steps to the development of a comprehensive and robust P3 business case. Project sponsors whose applications are retained for further analysis will be required to follow this guide in preparing their Business Case for submission. Both Guides are available for download on PPP Canada's website at www.p3canada.ca.
In order to be considered under Round Four, applicants are required to submit their application no later than June 15, 2012. Applicants will receive written notification of PPP Canada's screening decision in the fall 2012. All interested applicants are encouraged to contact PPP Canada or their designated contact, identified in the Application Guide, to discuss the viability of their project before submitting an application.
Attn: P3 Canada Fund, Round Four
100 Queen Street, Suite 630
For further information on PPP Canada and the Government of Canada P3 Canada Fund investments visit: www.p3canada.ca
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