PPP Canada launches Round Six of the renewed P3 Canada Fund - Round Six to focus on innovative approaches, building experience
OTTAWA, April 14, 2014 /PRNewswire/ - PPP Canada announced today that it is accepting applications under Round Six of the renewed P3 Canada Fund through its new website. The Fund is a merit-based program that supports public-private partnerships (P3s) that develop public infrastructure across a number of eligible categories. Its primary focus is on assisting jurisdictions to build P3 experience and promoting innovative applications of the P3 model.
Round Six is the first Round under the renewed P3 Canada Fund. Economic Action Plan 2013 provided an additional $1.2 billion over five years, beginning April 1, 2014.
The initial five year, $1.2 billion P3 Canada Fund was launched in 2009. PPP Canada has fully committed the initial Fund to projects across the country with combined capital costs in excess of $6 billion. Savings to taxpayers from undertaking these projects as P3s are estimated to be over $800 million, compared against traditional procurement.
"Over the past five years, we have helped new jurisdictions across Canada bring a mix of large, medium and small P3s to the Canadian market," said John McBride, CEO of PPP Canada. "Through Round Six, we will continue to build experience through new jurisdictions, new sectors, and new approaches."
In Round Six, PPP Canada will give priority to public infrastructure projects in the following priority areas: transportation; water/wastewater; and solid waste disposal. In addition, PPP Canada will give priority to projects that maximize private sector involvement.
PPP Canada works with other levels of government to promote the effective use of P3s through P3 knowledge sharing, capacity building and the strategic use of the P3 Canada Fund. By offering advice and expertise to its clients, PPP Canada ensures proper due diligence across all stages of the project development life cycle. The result is a well-structured procurement that is well planned and follows best practices ensuring transparency, fairness and competitiveness.
P3s combine the design, construction, financing, operations and maintenance of public assets, and hold a single partner accountable for quality delivery over many years. Canada is recognized worldwide for its approach to P3s, which provides better value, better timeliness, and better quality infrastructure over the long-term.
About PPP Canada and the P3 Canada Fund
PPP Canada is the Government of Canada's centre of expertise on P3s. As a federal Crown corporation mandated to improve the delivery of public infrastructure by achieving better value, timeliness and accountability to taxpayers, through P3s. The Corporation was created to deliver more P3s by leveraging incentives, demonstrating success, providing expertise; and promoting best practices and capacity-building.
Increasing the visibility of P3s as a procurement solution for governments is one of the major accomplishments of PPP Canada. The Corporation's work and the strategies it employs on its three (3) business lines include:
- P3 Knowledge Development and Sharing: to serve as a source of expertise and advice on public-private partnership matters;
- Advancing Federal P3s: to act as the lead on federal P3 matters with a mandate to assess federal P3 opportunities; and to advise on the execution of federal P3 projects; and
- Advancing Provincial, Territorial, Municipal and First Nations P3s: to assess the suitability of P3 projects from provincial, territorial, municipal, and First Nations governments seeking funding from federal infrastructure programs, in particular the P3 Canada Fund.
The P3 Canada Fund is a merit-based program, designed to incent innovation in P3s as well as encourage inexperienced jurisdictions to consider P3s in public infrastructure procurements. It is the first infrastructure funding program, anywhere in Canada, that directly targets P3 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.
Round Six: Information for Applicants
To assist Round Six 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 criteria 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 process associated with developing 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 new website at www.p3canada.ca.
The deadline to be considered under Round Six is June 13, 2014. All interested applicants are encouraged to contact PPP Canada or their key regional contact, identified in the Application Guide, to discuss the viability of their project before submitting an application.
Attn: P3 Canada Fund, Round Six
100 Queen Street, Suite 630
SOURCE PPP Canada