1.01 Private Entity is any non government organization from which the City may procure infrastructure and/or services. Not-for-profit partnerships are not considered Private Entities in this policy.
1.02 Private Financing is cash flow advanced in the form of debt or equity investment in the project by the Private Entity to fund any portion of the capital costs and operating or associated carrying expenditures of the P3 project.
1.03 Public Private Partnership (P3) is a long term contractual arrangement between the City of Edmonton and a Private Entity to deliver priority infrastructure and some or all related services by proper allocation of resources, risks, rewards and responsibilities. The Private Entity partner will be responsible to design, build, operate and/or maintain the infrastructure and provide a component of Private Financing.
A long term design build operate and/or maintain project without Private Financing is not considered a P3. However, the development and management of this project may follow this policy as Administration deems necessary.
1.04 Public Sector Comparator (PSC) is a risk adjusted estimate of a project's costs and benefits as if it were delivered under the most efficient form of traditional delivery model by the City. It includes the best estimate of full life cycle costs, benefits and risks over the contract term.
1.05 Shadow Bid is a risk adjusted estimate of a project's costs and benefits to be developed as if the project were delivered as a P3. It includes the best estimate of full life cycle costs, benefits and risks over the contract term.