Sun. Mar 3rd, 2024

No fees “for the moment” related to the Caisse's mandate: true or false?

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The Minister of Transport and Sustainable Mobility, Geneviève Guilbault, in an interview with Téléjournal Québec.

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  • Louise Boisvert (View profile)Louise Boisvert
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    During her media tour to explain the mandate she had just given to the Caisse et depot et placement to find the right structuring project for the City of Quebec, the Minister of Transport and sustainable mobility affirmed that this The process was “for the moment” free of charge. Verification carried out: it is true, but only in part.

    For the moment, it is true that the government is not spending any money ;money. But the bill will come later. In fact, everything will depend on who will carry out the project which will be recommended at the end of the process.

    If the Caisse becomes prime contractor for the project it has recommended, all expenses incurred during its six-month mandate will be included in the project costs. If the government decides to entrust the project to another entity, it will reimburse all study costs and all other expenses of the Fund in return for obtaining the study reports.

    There is a third scenario. If it is the Caisse that refuses to carry out the project, the government will only reimburse the cost of the studies which will have been carried out during the six-month mandate. All other expenses will be the responsibility of the Fund.

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    CDPQ Infra will be responsible for finding the best mobility project for the Quebec region

    Throughout the mandate, the Fund must provide a progress report for each tranche of $5M that will be committed. This is a kind of accountability to keep an eye on expenses.

    All this information comes from an agreement, reached in 2015, between the Caisse de dépôt et placement and the government of Quebec. This is the agreement on public infrastructure that was developed following the Réseau express métropolitain project, the REM.

    It is still too early to know whether the Caisse and its subsidiary CDPQ Infra will become prime contractors for the future structuring project in Quebec, but the initial agreement, on which the current mandate is based, has been drawn up. so that the Fund takes the reins of the project.

    For all projects covered by this agreement, we can read, the Caisse will be responsible for their implementation. The agreement mainly targets projects with commercial revenue potential. It is also stated that the Fund must prepare a financial package that allows it to achieve its return objectives.

    The document also describes all the obligations of the Fund. In addition to being able to count on the numerous studies already carried out for the tramway and the Quebec-Lévis tunnel, it must order additional studies if necessary, validate the preliminary construction and operating costs and validate the implementation method. p>

    It must also launch a consultation with the government, the cities involved, the transport companies concerned as well as other public bodies in order to validate their expectations and their constraints.

    By email, CDPQ Infra confirmed at the start of the week that it had initiated discussions with around a hundred stakeholders from economic, social and environmental groups. Some groups contacted by Radio-Canada, including Access transport viable, confirm having received a letter of invitation for a later meeting. No date has yet been set. It is impossible to know if this meeting will take place before Christmas.

    The planning phase proposed in the initial 2015 agreement consists of four stages which can be #x27;spread over 15 months within a maximum period. The government is giving the Fund six months to do all the work.

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