Concerns over cost overruns and resistance to P3s have killed the BC plan to build a privatized Richmond-Airport-Vancouver transit line. Rejecting a motion to move the project to the best and final offer stage, the Translink board voted 7-5 to stop the $1.7 billion deal. But P3 backers have not given up, mounting pressure on Translink directors to reverse their decision.
The board was to select a consortium to design, build, operate and maintain the rapid transit link connecting Richmond, the airport and Vancouver. But the likelihood of cost overruns and the inherent secrecy of a P3 moved the board to reject the scheme.
The system they developed was essentially beyond the Mercedes, it was a Rolls Royce system, says Burnaby mayor Derek Corrigan. It would ask so much (money), we wouldnt be able to accomplish other priorities.
This is often the case with P3s. Whether its a hospital, an arena or a transit route, P3s tend to the extravagant because the private sector makes more money from frills.