The city is looking for private partners to help build a proposed $42.5-million performing arts centre downtown.
On Monday city council approved an application to P3 Canada, a federal Crown corporation mandated to promote public-private partnerships -known in government circles as P3s. If successful, the city could be eligible for a federal grant covering 25 per cent of the costs, according to city staff.
"I think this is a very creative and innovative way to look at major capital projects," Coun. Cameron Stolz said.
Under the P3 model, the city would look at financing the project through a combination of federal and provincial grants, private investment and sale of city land assets including the Prince George Playhouse.
Stolz said he was pleased to see the city would not be looking at long-term debt to finance the performing arts centre.
"This is a creative way to get something we've wanted for a long time," Coun. Murry Krause said.
The initial application to the program does not commit the city to building the project, Mayor Dan Rogers said.
"This is all about seeing if there is value for money and interest from the private sector," Rogers said. "[But] I think we need to be cautious."
The Prince George Regional Performing Arts Centre Society has proposed the centre would include a 800-seat, multi-use theatre, a 250-seat 'black box' theatre, multi-use rehearsal space, public foyer and reception space, and administrative offices.
The proposed building is based on a needs assessment and business case which were developed in 2008.
Prince George Regional Performing Arts Centre Society vice chairperson Jo Graber said the application is an important step to getting the centre built.
"I've been involved with the society right from the start. It's taken almost four years to get to this point," Graber said. "I think this is definitely a milestone."
The society has considered a public-private partnership in the past through Partnership B.C, he said. But at that point there wasn't a solid endorsement from city council and a specific site selected.
"They also like to look at larger projects. Even at the price we came in at, it was touch and go whether they'd promote it," Graber said. "[But] we think this is an important project, and we'll see if the federal government agrees."
