Boomers Should Love Transit

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Prep Work/P3s: How governments lost the ability to manage infrastructure projects until old money came up with a solution
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References & Sources
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[1] rem.info/en/news/south-shore-preparatory-work-gets-underway
[2] www.herrenknecht.com/de/referenzen/referenzendetail/metro-guangzhou/
[3] www.railjournal.com/signalling/guangzhou-metro-cbtc-contract-awarded/
[4] www.robbinstbm.com/projects/guangzhou-metro-guangfo-line/
[5] journal.hep.com.cn/fem/CN/article/downloadArticleFile.do?attachType=PDF&id=19623
[6] www.structuremag.org/?p=10604
[7] www2.deloitte.com/global/en/pages/infrastructure-and-capital-projects/articles/canadian-public-private-partnerships-report.html
[8] www.policyalternatives.ca/sites/default/files/uploads/publications/Nova%20Scotia%20Office/2020/10/Hidden%20dangers%20of%20P3s.pdf
[9] columbiainstitute.eco/research/public-private-partnerships-in-bc-update-2018/ “A recent 2018 report by the Columbia Institute confirmed the higher costs of P3s”
[10] www.institutionalinvestor.com/article/b1505qtb21m06x/no-longer-the-dumb-money
[11] www.cdpq.com/en/about-us/history
[12] www.on-sitemag.com/infrastructure/infrastructure-bank-makes-first-investment-loaning-montreal-rem-project-1-3b/1003960045/
[13] www.legisquebec.gouv.qc.ca/en/document/cs/C-2
[14] Initial: rem.info/en/partners www.on-sitemag.com/infrastructure/proposed-extension-to-new-montreal-rem-would-add-23-more-stations-cost-10b/1003971265/ $6.3bn Q $1.283 C $1.283 HQ $0.295, Caisse: $3.439bn (91.3%)
2019: www.newswire.ca/news-releases/rem-optimization-agreement-concluded-with-nouvlr-822175318.html $6.5bn (94.2%)
2021: montreal.ctvnews.ca/rem-light-rail-project-price-tag-rises-due-to-pandemic-complications-1.5455795 $6.9bn (100%)
[15] montrealgazette.com/news/local-news/century-old-explosives-detonate-in-mount-royal-tunnel-rem
[16] montreal.ctvnews.ca/rem-light-rail-project-price-tag-rises-due-to-pandemic-complications-1.5455795
[17] plus.lapresse.ca/screens/e5f117c7-6634-43e8-aecb-1f275d9d4155__7C___0.html

Опубликовано:

5 мар 2022

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Комментарии : 43

@Tyurannical 2 года назад

love this series so far!

@PaigeMTL 2 года назад

Good moment for a plug Bill M! The next part and many hours of extra content are up on patreon: www.patreon.com/lovesmontreal Because I do videos about these niche topics that won't get lots of advertising revenue, Patreon is basically my only way to make this work.

@dylanc9174 2 года назад

Elderly people in Montreal love the transit system. You can get to anywhere you want without needing to drive, or walk the entire way.

@tramenari 2 года назад

Hi Paige. I know that these videos take a long time to make and you're probably really busy with your personal life but still manage to creat such quality content. So I wanted to say thank you for the work and to keep your head up, you're at 6k now but will be 6m before you know it.

@PaigeMTL 2 года назад

Thanks, the subs are nice but I do it for the cause and I do OK. I'm grateful that anyone actually wants to hear me prattling on.

@jiainsf 2 года назад

Loss of institutional knowledge is a really important point as it is not having the experts to rely on that increases project costs, reliability, and duration. Hopefully, as locales across North America invest more into transit, we can have that foundation of knowledge and expertise to build upon.

@philippecourtemanche1994 2 года назад

Perfect time to bring up the REM is anytime someone complains about gas prices

@Gregq96 2 года назад

What a cliffhanger!

@andrewweitzman4006 2 года назад

The unique position of the Caisse is an aspect of the REM I never thought about until I actually looked out into how it was financing the project.

@oldfern 2 года назад

really appreciate the choices of music

@PaigeMTL 2 года назад

Thanks, I wanted to get across how intense the story of getting these megaprojects built is and music seemed like a good way to do it.

@Matt-ln1zl Год назад

@@PaigeMTL what is the song at the beginning?

@Token_Nerd 2 года назад

1:22 Oh hi Paige

@simoneh4732 2 года назад

Love your work, as always. My favourite example of a horrible P3 deal, Highway 407 in Ontario. It would be cool to hear some good examples of P3's, other than the ones still in construction.

@PaigeMTL 2 года назад

I think the most interesting P3s are actually the original subway lines in New York and London. It’s interesting to me that this thing that seems modern is actually just a rebranding of the way things used to be done.

@rlwelch Год назад

The privatization of the 407 is an even bigger topic and scandal than the P3 model - it's its own shameful blunder

@Bismvth 9 месяцев назад

Woah what the heck is that intro track, I love synthgaze

@Brackcycle 2 года назад

Thanks Paige. Your mission to promote this "boring finances story" into the front pages and stall Nimbys all over the island of Montreal (and beyond) is well under way! Keep up the good fight.

@jtwickham4096 2 года назад

can't wait for Episode V: The CAQ Strikes Back

@kevinlavigne7308 2 года назад

Hey Paige, just wanted to say thanks for all the great videos you make! They’re some of my favorite content about Canada on RU-vid.

@janeislameee 2 года назад

Another great video! Really loving this series thus far.

@pebblepod30 2 года назад

Wow how exiting!

@es3359 2 года назад

Enjoy your analysis of a Public Public Partnership, and you’re absolutely right - the Caisse is helping to enrich society. Let’s hope this model keeps its momentum going! Great work :)

@pebblepod30 2 года назад

I would love to know if we could do anything like this in Australia.

@PaigeMTL 2 года назад

Yes. In fact the CDPQ's first attempt to export the model was next door: pensionpulse.blogspot.com/2020/06/cdpq-infra-derailed-in-auckland.html

@dbjoker2073 2 года назад

This makes me regret even more the removal of CDPQ for the "Rem de l'est" ... oh boy I wish the gov would just have financed the extra cost of putting the downtown section underground....

@MD-tp5zy 2 года назад

good content, you're getting better

@willd1790 Год назад

Good video, agree with most of this, but I think it's also worth noting that another issue with P3s is that by offloading part of the risk onto the private sector they will want to raise prices to offset that, which is perfectly understandable, but it does mean that it can cause some cost inflation, which is...really not what we need. But then again, maybe the state of our...state capacity is just so dismal that we kinda need to look anywhere.

@ikelom 2 года назад

Good explanation and great choice of music! The biggest thing I disagree with is not even linked to the topic of the video. 6:07 "We live in a democracy..." Not when we still have first-past-the-post voting and not many other ways for average citizens to participate in politics...

@MG-mo7ib 2 года назад

Not only that; will such issue (bad deal or bad management of the REM) determine how/who people vote for, and even then, what impostance the issue will be given even if it's in the winning party platform.

@IshaanKumar 2 года назад

This is a great video. I learned a lot about REM. Keep up the good work!

@NAUM1 Год назад

Who does the song at the end?

@sebastienberger2890 2 года назад

Awesome video

@etiennepiche-jutras410 2 года назад

Don’t quite get the title. But good video!

@TD-gc5tq 2 года назад

7:43

@jimspies2775 Год назад

Great channel, ran across your winter biking video and liked it, so subscribed. Thank you! Montreal's new rapid transit will be called REM? Will they have a Driver 8, and will Driver 8 take a break, or will they be on the trip too long, still a ways away? As someone that grew up in the 80s, this excites me greatly. 😆

@Danielnikoula 2 года назад

Great vid

@veonnisual 2 года назад

Great video, one think to point out is that the REM is still a public-PRIVATE P3, because the Caisse still has contracts with a consortium of private engineering/construction firms to build, operate, and maintain the system.

@PaigeMTL 2 года назад

All large infrastructure projects have a consortium, eg the new Champlain bridge. But that bridge is not a P3. P3s are defined by their long term financing agreement/arrangement not the contractors involved in construction.

@MG-mo7ib 2 года назад

Wil you talk about "REM B" (east-end) and "REM C" (Taschereau)? And do you think the Caisse will accept to extend REM B to Lachine like Valerie Plante initially wanted?

@PaigeMTL 2 года назад

Yep, that’s shows up in the 4th part of the series. I suspect the Lachine section won’t work for the REM because tunnelling would cost too much and the viaducts would burn too much political capital. They’re more focused on South Shore and Laval now. I think it’s one of the places where a tram or BRT is the most likely choice if the mayor wants to “technically” meet her objective.