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Navigating public-private partnerships

The ‘70s, ‘80s, ‘90s brought far too little investment in the repair of existing infrastructure and development of new infrastructure, leading to recognition around 2000-2003 that all levels of government in Canada needed tosignificantly invest in these areas. Infrastructure projects can be structured many ways, with no “one-size-fi ts-all”. One project model popular that has been popular in Canada in the last 10 years is the public-private partnership. In this model, the public and private sectors collaborate, with a view to allocating project risk between them in a way that results in “optimal risk allocation” — allocating project risk to the party best able to manage that risk. It is a key ingredient in achieving best value in the delivery of a project. In 2008, the federal government established PPP Canada to improve the delivery of public infrastructure by achieving better value, timeliness, and accountability to taxpayers through public private partnerships. In the February 2014
federal budget, the government stated that PPP Canada would continue to share best practices for projects and promote the use of public-private partnerships in the infrastructure sector. Many provinces have also created special agencies or Crown corporations to support provincial
governments in their efforts to deliver the required infrastructure renewal and development projects. Two of the earliest such agencies or corporations were Partnerships B.C. and Infrastructure Ontario.

 

Whether it is to welcome new
American tenants (i.e. Target,
J. Crew, and Crate & Barrel), to
convert buildings to become
LEED certified, or to entice more
shoppers to come into their centre,
many shopping centres and
office buildings in Canada have
recently completed, or are in the
midst of, expansion and modernization.
For example, in Toronto
alone, a major renovation of two
food courts at the Eaton Centre
has occurred, Yorkdale Shopping
Centre is undergoing a major
expansion to accommodate
more tenants, and First Canadian
Place has re-skinned its exterior
walls and windows and
renovated its common areas and
retail spaces. How do you think
different types of redevelopment
affec

 

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