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FACTS ON PUBLIC-PRIVATE PARTNERSHIPS
Jan. 29, 2009
Ministry of Finance
Forensic Auditor Ron Parks has released a Canadian Union of Public Employees funded report that is critical of four Public Private Partnerships (P3's). Parks admits in this report that he lacked, “critical information and documentation in support of the value for money reports”. Furthermore, his findings are not supported by B.C.’s Independent Auditor General. Here are the facts on P3's:
- Contrary to Parks' findings the Auditor General specifically reviewed the Canada Line Project and the Abbotsford Regional Hospital and Cancer Centre P3 projects.
- The Auditor General has also reviewed the accounting used by Partnerships BC to determine value for money and found it to be fairly and reasonably presented.
- Delivered on budget and 108 days ahead of schedule: The new $144-million William R. Bennett Bridge in Kelowna. This project relieved the second-largest gridlock location in B.C. and is projected to save taxpayers $25 million over the life of the project.
- Delivered on time and on budget: The $95-million Gordon & Leslie Diamond Health Care Centre at Vancouver General Hospital. This project supports several hundred medical students, more than 580 medical and allied professionals, an estimated 600,000 patients and is projected to save taxpayers $17 million over the life of the project.
- Delivered on time and on budget: The $15-million Britannia Mine Water Treatment Plant. This project is cleaning up the water in Howe Sound and is projected to save $12-million for taxpayers over the life of the project.
- Delivered on time and on budget: The Abbotsford Regional Hospital and Cancer Centre. The cost of the Abbotsford Regional Hospital and Cancer Centre is $475 million. This project is a state-of-the-art 300-bed regional hospital and cancer centre to replace the aging MSA Hospital in Abbotsford. It is projected to save taxpayers $39 million over the life of the project.
- Delivered on time and on budget: The Kicking Horse Canyon (Phase 2). This $130 million improvement involved replacing the 10-mile Park Bridge and upgrading the highway approaches. It is projected to provide $18-million in savings and benefits to taxpayers over the life of the project.
- Construction underway: Sea-to-Sky Highway Improvement. This $600-million project is estimated to provide taxpayers with $131 million in additional benefits including additional passing lanes and barriers and improved safety features.
- Construction underway: The Canada Line. This $2-billion rapid transit line connecting the Airport with downtown Vancouver is being built as a P3 with a projected $92 million in savings and benefits to taxpayers over the life of the project.
- Construction underway: New health care projects in Kelowna, Vernon, Victoria, and Surrey.
- To date every PPP project undertaken by the government has been on-time and on-budget.
- B.C. has received more than 20 provincial, national and international project awards for its P3 projects.
