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| **Borrowing** – with the legislative changes that were made when the New Deal was introduced, most municipal governments have the ability to borrow money to help finance capital projects. This ability to borrow and the fact that the CPI and Gas Tax funding is predictable provides a municipal government with the flexibility to pay for a capital project by using a combination of available funding and loans, thus spreading out the costs over a period of years. | **Borrowing** – with the legislative changes that were made when the New Deal was introduced, most municipal governments have the ability to borrow money to help finance capital projects. This ability to borrow and the fact that the CPI and Gas Tax funding is predictable provides a municipal government with the flexibility to pay for a capital project by using a combination of available funding and loans, thus spreading out the costs over a period of years. | ||
| - | **Private/Public Partnerships** ([[http://lgant.ca/Resources/Section%207%20Resources/An%20Introduction%20to%20P3%20-June03.pdf |Introduction to P3]]) – known as a P3 arrangement, this is a partnership between a municipal government and a private sector business that is established for the purposes of completing a capital project. P3s can take a variety of forms but the basic goal is to combine the strengths of both partners and share risks. Usually, the municipal government remains in control as the decision-maker on a project but relies on the private company to handle the commercial functions such as project design, construction, finance and operations. In return, the municipal government makes monthly payments to the company to enable it cover all capital and operating costs for the facility and earn a profit. | + | **Private/Public Partnerships** – known as a P3 arrangement, this is a partnership between a municipal government and a private sector business that is established for the purposes of completing a capital project. P3s can take a variety of forms but the basic goal is to combine the strengths of both partners and share risks. Usually, the municipal government remains in control as the decision-maker on a project but relies on the private company to handle the commercial functions such as project design, construction, finance and operations. In return, the municipal government makes monthly payments to the company to enable it cover all capital and operating costs for the facility and earn a profit. |
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| **6. Preparing the Capital Plan** \\ | **6. Preparing the Capital Plan** \\ | ||
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| Once a Capital Plan is approved and in place, the municipal government needs to implement the projects in the plan. On occasion, a municipal government may also decide to proceed with a capital project that is not already included in the Capital Plan. | Once a Capital Plan is approved and in place, the municipal government needs to implement the projects in the plan. On occasion, a municipal government may also decide to proceed with a capital project that is not already included in the Capital Plan. | ||
| - | Completion of a specific capital project usually involves several stages including planning and design, tendering and contracting, managing construction and ensuring project completion. This overall process is referred to as [[http://www.maca.gov.nt.ca/?page_id=574|project management]] & ([[http://lgant.ca/Resources/Section%207%20Resources/Case%20Study%20For%20Ft%20Liard%20%20%282007%29.pdf |Case Study for Fort Liard]]). | + | Completion of a specific capital project usually involves several stages including planning and design, tendering and contracting, managing construction and ensuring project completion. This overall process is referred to as [[http://www.maca.gov.nt.ca/?page_id=574|project management]]. |
| In essence, project management involves directing and coordinating people and resources (materials and equipment) throughout the life of a project. Key skills involved in project management include: | In essence, project management involves directing and coordinating people and resources (materials and equipment) throughout the life of a project. Key skills involved in project management include: | ||
