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Alberta publicly finances four high schools, cancels P3 project

Ten elementary, middle schools will still be built with more expensive P3 model.

.May 4, 2009 — Alberta will pay for four new high schools publicly, cancelling privatized financing and upkeep plans.

The government says it has "refined" its model to deliver new schools, "in response to the economic climate."

The global credit crunch is behind the decision, according to a government spokesperson, who told the media "proponents would have trouble obtaining financing for a full 14-school P3 bundle." The private financier involved in a first wave of 19 P3 schools in the province is on shaky financial footing.

Ten elementary and middle schools will still be built with private financing and major maintenance - a move that costs twice the price of public borrowing and upkeep.

The four high schools will be publicly financed, and designed and built by the private sector - the traditional way of building public facilities and infrastructure...

To read further, please click on the link below:

Links and sources
  Alberta cancels P3 high school plans, by CUPE, May 4, 2009

Posted: June 06, 2009

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