P3 Funding – CCPA Article

The article noted below highlights that the cities aren’t necessarily keen on getting the federal P3 Canada funding because of the implications of the loss of control and higher amounts for interest.  This reluctance was expressed by some City of Regina councilors when the potential PPP funding for Central Library and for the wastewater treatment plan were discussed. The councilors were not necessarily totally enthusiastic about the funding but felt that they would be seen as negligent and irresponsible by Regina taxpayers if the Library Board/City didn’t apply for the funding.

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In the April CCPA Monitor there is an article by David Macdonald entitled Flaherty’s 2013 Budget actually cuts infrastructure funding. The article notes that the recent federal budget has reduced infrastructure funding from $1.25 billion (annually) to $210 million and that the majority of the funding will not be issued for another seven years.
Apparently many cities don’t like the way the  joint public and private participation requires them to give control to the corporate partners and that long-term projects will incur more interest.
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