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Public-Private Partnerships (P3s) are legal agreements between government and private-sector entities for the purpose of providing public infrastructure, community facilities and related services. Typically, the partners share risks, responsibility and reward in a shared investment. The P3 approach provides creative ways to build new facilities that may not be affordable by the City alone at the time. It also provides the private sector with an opportunity to introduce complementary services that often fall outside the City’s mandate. P3 projects strive to achieve maximum value for taxpayers by taking an innovative approach to the design, construction, financing, operation and/or maintenance of public facilities. It also provides an opportunity for risk sharing, whereby risks -- such as managing costs, controlling quality and staying on schedule -- are transferred to the party best suited to manage them. Learn more about the benefits of P3s on our “About P3s” page. To date, a number of P3 projects have been undertaken and are at various stages of maturity or completion, with additional potential P3 projects being assessed each year. You can find out more about each of the City’s many P3 projects, which now include:
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