$100 Million in Savings for New Schools According to KPMG Report
The Saskatchewan Government released the value for money report for the publicly-owned Joint-Use Schools Project, which was prepared by KPMG. The independent financial experts confirm the P3 model will save taxpayers $100 million, or 13 per cent, compared to a traditional model. These savings include P3-related costs, such as private financing.
A total investment of $635 million (in today’s dollars) is being made in the new schools including the cost of design, construction, finance, and more than 30 years of maintenance to ensure they remain in like-new condition. KPMG’s report confirms the same project would have cost $735 million if it was delivered through a traditional approach.
“P3s are faster, better, and lower cost and this report by KPMG confirms that taxpayers are getting a better deal by using this innovative approach rather than a traditional method,” SaskBuilds Minister Gordon Wyant said. “These schools will be delivered on time and on budget, and they will be maintained in like-new condition for more than three decades.”
The value for money report, redacted project agreement, Request for Qualifications, conformed Request for Proposal documents, and Fairness Advisor reports are posted on www.saskbuilds.ca. This is in keeping with the province’s commitment to transparency by releasing procurement documents within 120 days of finalizing the project agreement.
In summer 2015, Joint Use Mutual Partnership (P3 team) started construction on the 18 new elementary schools on nine joint-use sites in Regina, Saskatoon, Martensville and Warman. Students, families, and communities can now see the incredible progress being made with the launch of new construction site webcams online. The high definition cameras provide continuous still photo video of the construction sites 24 hours a day, seven days a week. You can view the webcams online at www.saskatchewan.ca.
The schools are on track to be completed and ready for students by September 2017.