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Getting into real estate? The first step is to check your credit report

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If you’re looking at jumping into the Leduc real estate market, you have probably checked out your credit report. Have you ever looked at your credit and wondered how they go about calculating your credit score? Well, that figure is calculated by weighing different areas of your financial history. This is all done through complex algorithms now, but we can still break it down to understand it better.

Each of these five areas has a different weighted amount: 

  • payment history
  • amount owed
  • length of credit history
  • new credit
  • types of credit

These things effects your credit score most

Payment history is worth 35% of your credit score. This includes things like bankruptcies, late payments, past due accounts, and judgments. It represents the largest proportion of your credit score, so making your payments on time is extremely important for building up your credit score before buying a house in Leduc. 

The amounts owed on your accounts comprise 30% of your credit score. This takes into consideration the amount available – what’s left after your balance – on each of your credit cards, so if you are constantly using your cards and not paying them off, that will lower the score. Kimm Nguyen, a mortgage broker I met in the course of selling Leduc real estate, [AT1] mentioned that the algorithms consider using the cards to be a good thing; it will help increase your score if you use a card and pay it off right away. It is actually a good strategy to increase your score quicker…but you have to keep the balance low or paid off.

Length of credit history is 15% of your score. Time since the accounts were opened and time since last account activity should both be on your radar. If you do a balance transfer or if you cancel a cell phone bill to go to another provider, those will affect your credit score because you’re closing out what could potentially be your longest account. If you do take advantage of a balance transfer promotion, don’t cancel the old account; you can still leave it open and not use it.

New credit looks at credit inquiries and the number of recently opened accounts. These are worth 10% when calculating your credit score. One thing I learned was that decades ago, there was a lot of credit card fraud. People would get new credit cards from all the different banks, rack them up, and then not be able to pay them all off. In order to curb that type of behavior of shopping for credit for shady reasons, credit bureaus started reporting how many times you apply for new credit and when, and with whom! These inquiries may have a small effect on your score in the grand scheme of things, but doing this too much in a short period of time can really drag your score down. On a positive note, this aspect of calculating your credit score revolves pretty quickly, so your score will bounce back, but we do need to be mindful of it, especially when you’re planning on buying a house in Leduc in the next year or two.

Types of credit are worth 10% and by “types,” I mean different categories of credit like credit cards versus auto loans – revolving credit or installment credit. Installment credit would be like a car loan where you know what the payment is every month and you’re paying installments toward one amount over time. Revolving credit is like a credit card where your balance changes per your usage and can do so in a relatively short time frame. When it comes to trying to get a mortgage, these are viewed differently. The loan officers and underwriters don’t look at your minimum payment on revolving credit; they look at the balance due when calculating the mortgage payments you can afford.

Also Read: The Difference Between Home Warranty & Home Insurance

Out of all of these, the max score you can get is 900. Over 680 is considered excellent. 

Given the fact it is a weighted score with many moving parts, it’s always important to check it at least once a year, especially if you’re going to be buying a house. All mortgage companies use Equifax as their chosen credit bureau, so always check your Equifax credit report versus your TransUnion or Experian. If you check it through the bureau’s website, it won’t consider it to be an inquiry so it won’t lower your score.

One last note: If you’re on apps such as Credit Karma, we need to remember that when you don’t pay for a membership, you are the product. Just like with Facebook, Credit Karma gets funds to run the app through paid advertisements for you, their target market. They will promote credit card offers and “pre-qualified” loan offers right on the home screen of the app in hopes you will sign up for them. That is how they get their business. So, it’s important to be aware that your score might be slightly inflated so you can get a better credit card. These apps are easy to use to keep track of your payment history, but don’t rely on them for precise information on your credit score. 

When you’re looking at renting or buying a house in Leduc, please don’t hesitate to reach out with your home buying or rental needs. I can help get you set up with a mortgage broker who can tell you how much you might qualify for so you’re ready to make an offer as soon as your dream home pops up on the Leduc real estate market!

The Difference Between Home Warranty & Home Insurance

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When purchasing a new home in Leduc, it’s important to do in-depth research on all facets of the homebuying process. One thing you’ll need to understand is how to best protect yourself and your investment if anything were to go wrong. Check out the information on home insurance versus home warranty below to educate yourself on your options. 

Home Insurance. Homeowners insurance pays for any accidental damages and loss that are caused by fire, lightning strikes, windstorms and hail, however damage from earthquakes and floods is typically not covered. It also covers the replacement of personal property in case of theft or damage and liability if a person were to get injured in your home or on your property. According to American Home Shield, the average annual cost of a homebuyers insurance policy ranges between $300 and $1000 and the bank usually asks you to obtain a policy before the mortgage is issued. Make sure to keep in mind that each type of coverage in the policy is subject to a limit and, in most cases, you will have to pay deductible. 

Home Warranty. A home warranty is designed to cover the cost of repairs and replacements of larger appliances and crucial systems in your home that may fail or break due to age wear and tear. 

This includes but isn’t limited to HVAC, electrical, or plumbing components, kitchen appliances, and your washer and dryer. With a home warranty, most are purchased for new home builds. With this, the home builder has to pay a lump sum to the insurance company and if there are any issues the builder is responsible to fix it, or the funds will come out of the lump sum. If nothing is needed fixed by the time the warranty is over, then the builder can get his funds back. If you are looking for a new build or a resale home don’t hesitate to reach out.

 

We hope you enjoyed this article about “The Difference Between Home Warranty & Home Insurance!!!”

 

Start Living the Life of Your Dreams in Leduc, Let’s Connect!
CALL- Cell: (780) 718-8461 or Office: (780) 986-8407 | EMAIL – tarah@investleduc.com | VISIT US – 4810 50th Ave, Suite 100Leduc, AB T9E 6X9

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Airport

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The world is opening up, including air travel. What does that mean for us in Leduc? Lots! 

We have so much growth because the Edmonton International Airport (EIA) is in our backyard. All levels of government are on board with our growth. For example, outside of the funding we are receiving for the 65th Avenue Overpass, the federal government is giving us a grant of $18 million to support an expansion of $36 million in the airport’s cargo operations. 

But it’s not just cargo that we need to keep our economy churning. We need to secure air service to keep our business retention and growth. One fact that EIA officials are stating is that 20% of the steel that is flying in the sky is no longer around. 

Global Edmonton, EIA, and Chambers of Commerce have come to council to ask for part of the Regional Air Services Opportunity Fund. Some key takeaways from their ask on the June 21, 2021 council meeting are:

  • Municipalities across the Edmonton Metropolitan Region are being proactive by seeking out and implementing economic recovery measures.
  • One of the most strategic moves we can make is to secure air service for our communities, our businesses, and our citizens.
  • Collectively, the region is expected to see 7,000 jobs created, an increase to GDP of $415 million, and a total economic impact of $811 million.
  • Almost every business, either directly or indirectly, relies on air service and cargo for its prosperity. Moving parts, products, and people in and out of our communities is vital to our economy.
  • The world is reopening as we speak and every municipality in the region has been planning for this moment for the past 15 months with EIA and Edmonton Global.
  • This is the time to act. We’re moving very quickly because airlines are planning routes that will be in place for the next three to five years. We can’t afford to miss this window of opportunity.

The funds that they are looking to get from municipalities amount to $15 million to attract and re-establish several key routes. They are needing the funds up front to retain and attract airlines to induce traffic back to our region. If they don’t have the money, they would have to increase fees, which would undercut our region’s cost competitiveness, and that is a critical factor in attracting flights.

There have been numerous studies that have shown that for every percentage point in increased fares, there is an almost equivalent drop in percentage of passenger travel, which would be counterintuitive to an effective recovery plan.

With the world opening up, hopefully that means that we will start to see commercial passenger flights returning to our airport soon. The impact this will have on Leduc real estate cannot be overstated – a vibrant economy affects housing and investments both. If you’re looking for a Realtor in Leduc who can help you find a home or walk you through Leduc real estate investments that might be a good fit, please reach out to set up a time to talk.

We hope you enjoyed this article about “Airport!!!”

 

Start Living the Life of Your Dreams in Leduc, Let’s Connect!
CALL- Cell: (780) 718-8461 or Office: (780) 986-8407 | EMAIL – tarah@investleduc.com | VISIT US – 4810 50th Ave, Suite 100Leduc, AB T9E 6X9

REALTOR | INVESTOR | COACH

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Growth on Highway 19

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You can’t be headed to Devon River this summer without noticing all the construction on Highway 19.

The construction you’re seeing is the second phase of the realignment of Highway 19. This is a $79 million project – $27.7 million are coming from federal funds, $48.9 million from the province and $2.2 million from the City of Devon.

The beginning of the construction is going to be a set of traffic lights that will have 16 quarter sections of land to be zoned Business Industrial, Light Industrial and Medium Industrial. A quarter section is equivalent to 160 acres, so it’s amazing to imagine 16 quarter sections – that is tons of land to be zoned for business. About 2500 acres altogether!

It is the same with the east end of the highway by the airport. All that land north of the highway was also zoned for the same, and now we’re seeing some businesses coming in and the growth is starting to happen. It’s an exciting time to be in Leduc real estate.

As we are going global, we are promoting our community to the world as the place to land your goods. We can support the logistics for distribution all over North America. Because of this, we need to have the infrastructure to support the transportation needed, like cargo equipment for jets landing at the airport, and the trains and roads to have those goods go all over. This is why the construction at the intersections is so important – it allows for the development and the follow-through of what Global Edmonton is marketing to the world.

What does this mean for Leduc real estate?

This type of growth and expansion will cause a ripple effect for miles and miles. Add in the airport itself and all the growth it is seeing, and the impacts will be felt for years to come.

Leduc real estate will certainly feel the effects of this. Over time, we will start seeing more businesses opening and thus, more jobs becoming available. In turn, this will bring more residents to the area and increase the need for housing in Leduc. The net effect will be increased property values in the mid- to long-term as each part of the development nears completion.

Looking for a Leduc Realtor?

If you would like to chat with an experienced Leduc Realtor to explore what this growth might do for your property, or if you are interested in buying in the area before this growth affects the prices even more, contact me to set up a phone call.

We hope you enjoyed this article about “Growth on Highway 19!!!”

 

Start Living the Life of Your Dreams in Leduc, Let’s Connect!
CALL- Cell: (780) 718-8461 or Office: (780) 986-8407 | EMAIL – tarah@investleduc.com | VISIT US – 4810 50th Ave, Suite 100Leduc, AB T9E 6X9

REALTOR | INVESTOR | COACH

Listen to the Inside Leduc Podcast

Return of Passenger Flights back to Edmonton

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We have so much growth because the Edmonton International Airport (EIA) is in our backyard. All levels of government are on board for our growth. For example, outside of the funding we are receiving for the 65th Avenue Overpass, the federal government is giving us a grant of $18 million to support an expansion of $36 million in the airport’s cargo operations.

But it’s not just cargo that we need to keep our economy churning. We need to secure air service to keep our business retention and growth. One fact that EIA officials are stating is that 20% of the steel that is flying in the sky is no longer around.

Global Edmonton, EIA, and Chambers of Commerce have come to council to ask for part of the Regional Air Services Opportunity Fund. Some key takeaways from their ask on the June 21, 2021 council meeting are:

  • Municipalities across the Edmonton Metropolitan Region are being proactive by seeking out and implementing economic recovery measures.
  • One of the most strategic moves we can make is to secure air service for our communities, our businesses, and our citizens.
  • Collectively, the region is expected to see 7,000 jobs created, an increase to GDP of $415 million, and a total economic impact of $811 million.
  • Almost every business, either directly or indirectly, relies on air service and cargo for their prosperity. Moving parts, products, and people in and out of our communities is vital to our economy.
  • The world is reopening as we speak and every municipality in the region has been planning for this moment for the past 15 months with EIA and Edmonton Global.
  • This is the time to act. We’re moving very quickly because airlines are planning routes that will be in place for the next three to five years. We can’t afford to miss this window of opportunity.

The funds that they are looking to get from municipalities amounts to $15 million to attract and re-establish several key routes. They are needing the funds up front to retain and attract airlines to induce traffic back to our region. If they don’t have the money, they would have to increase fees, which would undercut our region’s cost competitiveness, and that is a critical factor in attracting flights.

There have been numerous studies that have shown that for every percentage point in increased fares, there is an almost equivalent drop in percentage of passenger travel, which would be counter intuitive to an effective recovery plan.

With the world opening up, hopefully that means that we will start to see commercial passenger flights returning to our airport soon. The impact this will have on Leduc real estate cannot be overstated – a vibrant economy affects housing and investments both. If you’re looking for a Realtor in Leduc who can help you find a home or walk you through Leduc real estate investments that might be a good fit, please reach out to set up a time to talk.

We hope you enjoyed this article about “Airport Growth!!!”
Start Living the Life of Your Dreams in Leduc, Let’s Connect!
CALL- Cell: (780) 718-8461 | EMAIL – tarah@investleduc.com | VISIT US – 4810 50th Ave, Suite 100 Leduc, AB T9E 6X9

REALTOR | INVESTOR | COACH

Listen to the Inside Leduc Podcast

Property Taxes!!!

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Property Taxes!!! To determine the amount of revenue required from property taxes, The City of Leduc, takes the overall expenses and subtracts all other sources of revenue. Revenue sources such as license fees, permits, user fees and provincial grants. The amount that’s left is what needs to be raised through municipal property taxes.

The city of Leduc has however voted to not increase the property taxes this year. But did you know that that could mean that your taxes could still go up.

The Residential taxes are made up of 2 parts, 27% is collected on behalf of the Alberta Government on behalf of education, which leaves 73% to go to the city for its expenses.

Of that 73% that goes to the city it is split between fixed and variable costs.

Fixed costs are 53% of the of that.

The fixed costs are:
  • Mayor and Council
  • Corporate and Legislative
  • Engineer Service
  • Planning Service
  • Facility Service
  • Debt Repayment
  • Capital transfer

That leave 47% as a variable cost. These variable costs are brought to council and council votes on. It is also what they put the survey out for so that they know what we would like as a community.

The variable cost breakdown is:
  • 22% Police and Protective Service
  • 20% Fire and Ambulance
  • 15% Public Service
  • 9% Community Development
  • 9% Parks and Athletics
  • 8% Public Transportation
  • 6% Leduc Rec Center
  • 5% Snow Removal
  • 4% Library
  • 2% Family and Community Support

The budget presentations take a few weeks, so if there is something that you would like to see make sure you attend next year or fill out the survey the put out every year. You could also join a board as well. Many of the items on the variable list have a board that dictates what they do with the funds and they look for new members, and new perspectives. So now you know!!!

We hope you enjoyed this article about “Property Taxes!!!”

 

Start Living the Life of Your Dreams in Leduc, Let’s Connect!
CALL- Cell: (780) 718-8461 or Office: (780) 986-8407 | EMAIL – tarah@investleduc.com | VISIT US – 4810 50th Ave, Suite 100Leduc, AB T9E 6X9

REALTOR | INVESTOR | COACH

Listen to the Inside Leduc Podcast

Importance of Pre-Approved Mortgage

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Importance of Pre-Approved Mortgage. Looking for a house can be very exciting, and in your haste to start looking, you may immediately want to reach out to a real estate agent to get the ball rolling. Who doesn’t want to get straight to the “looking at houses” part of the process, right?

However, you may be forgetting one very important step. That is getting in touch with your mortgage banker for your mortgage pre-approval. I’ve had a lot of people getting in touch with me to go look for properties without first getting a pre-approved mortgage. So, why should you get a mortgage pre-approval first?

New products –

Mortgage companies are always coming up with new products and different mortgage. That is their business and they can help you get into houses. As mortgage rules change, they are always making new products to help you meet and find your goals.

Valuation –

You may be surprised by the valuation you can get by getting in touch with mortgage brokers. It is always a great idea to have a discussion with them first. Tell them what you are looking for and the goals you have concerning the house.

If you have plans on renovating the property, say, adding a basement or maybe an alcove or an extended room, bring it up as early as the pre-approval stage because they might just have a different mortgage product for you and your specific plans for the property you are eyeing. They might come up with ways to help you refinance depending on your plans for the property.

No pre-approved –

Mortgage means not being able to make an offer – Getting a pre-approved mortgage is essential to being able to actually make an offer on a property with the help of your chosen real estate agent. They are the ones who will approve your credit worthiness, after which we can look for a house to make an offer on. The mortgage company will be the one holding the power to let you make an offer since they will be the ones attaching your pre-approval to the property to help ensure that it’s a match.

Whoever holds the money holds the key. This is how I like to explain it. It is important to note, however, that where mortgages are involved, there is an important difference between banks and mortgage brokers. Banks can only sell the products that they offer. Mortgage brokers on the other hand can help you shop around for different lenders and give you a range of options on different mortgage options they provide.

It may feel like the end of the road if a bank says no to you, but fear not! It would still be of value to you to connect with a mortgage broker who can help you with your pre-approval needs. Another thing to note is that if a certain mortgage broker is not able to help you achieve your goals, you can always definitely consider getting in touch with another one who may come up with different options and solutions for you.

Not all mortgage brokers are created equal, the same way not all realtors are created equal. This is why it can be beneficial to make connections who can help you get to the end goal you desire. If you find yourself needing help with mortgage pre-approval or are looking to connect with mortgage brokers to help you with it, don’t hesitate to get in touch. I have made connections and maintained working relationships with some mortgage brokers throughout the years, and I can help you connect with someone who can have just the right options for you and your mortgage needs.

This way, we can look for houses not just for the sake of looking at them, but we’ll be able to look for properties and make an offer which can ultimately get approved.

We hope you enjoyed this article about “Importance of Pre-Approved Mortgage”

Start Living the Life of Your Dreams in Leduc, Let’s Connect!
CALL- Cell: (780) 718-8461 or Office: (780) 986-8407 | EMAIL – tarah@investleduc.com | VISIT US – 4810 50th Ave, Suite 100Leduc, AB T9E 6X9

REALTOR | INVESTOR | COACH

Listen to the Inside Leduc Podcast

Leduc Real Estate Market Shifting

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Leduc Real Estate Market Shifting. There has been a shift in the market, and I’ve received quite a number of questions concerning prices and multiple offers versus not a lot of listings.

With the global market climate from the past year, people have not been wanting to list their properties for several reasons.

Here are some of those reasons.

– Prices not doing really well

– The seller still owe a substantial amount of mortgage when it comes to the value of their property.

Because of this, we haven’t had a lot of listings in the market. However, we do have a lot of buyers.

There have been more buyers than property listings. This is due to current interest rates, or perhaps a desire to upgrade their house. Because there are more buyers than listings, this results in multiple offers on the seemingly smaller pool of listings.

Considering the multiple offers, the individuals who are listing their properties now have a better chance of potentially getting more from those multiple offers.

The prices for these listings can be substantially higher.

Property prices may start increasing due to an influx of buyers.

Additionally there is also a higher chance of finding someone whose budget agrees with the listing.

This is very much in line with the basic law of supply and demand:

When there is less supply, there is more demand, and this means an increase in purchase price as well.

This is what is currently happening in the market. You might have even seen posts on social media saying, they’ve looked at all of the property listings in their area and they haven’t seen what they like. This is because there aren’t as much listings compared to the volume of buyers. The existing listings can be gone sooner rather than later.

The imbalance between listings and buyers, has resulted in the market shift of listing prices. I have observed instances where a property listing is taken off and then put back up with thousands of dollars on top of the original price.

When working with a realtor, check to see the listing history and be mindful of this trend because the current market will allow for such kinds of prices and listings.

As a realtor, this is something which we haven’t experienced in a while, and it is quite exciting. Talk to your realtors about the market shift to get a grasp of what is going on, and if, perhaps, you are considering listing, now is a good opportunity to strike. If there is anything I can help you with, please don’t hesitate to get in touch!

We hope you enjoyed this article about “Leduc Real Estate Market Shifting”

Start Living the Life of Your Dreams in Leduc, Let’s Connect!
CALL- Cell: (780) 718-8461 or Office: (780) 986-8407 | EMAIL – tarah@investleduc.com | VISIT US – 4810 50th Ave, Suite 100Leduc, AB T9E 6X9

REALTOR | INVESTOR | COACH

Listen to the Inside Leduc Podcast

Court of Queen’s Bench listings

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Court of Queens Bench listings. With all the job losses and the mortgage deferrals, it is predicted that there will be lots of Court of Queen’s Bench listings coming up this year. In light of this let’s go over the process with you to ensure you are aware of the process and how it differs form a regular purchase.

A mortgage lender can sue a homeowner and have a judge order the property for sale to get the money they lent back. Court of Queen’s Bench listings are listed on the MLS but the seller’s name is not public, so only Realtors can see this.

However, it is possible to search by the seller’s name to get notified when new Court of Queen’s Bench listings come on the market.

A property that is listed through the courts can still have the occupant in the property when you view it. They are allowed to live there until there is an offer that is accepted by the judge.

When placing an offer on a property that is listed by the court. The lender who has sued the property owner will have a schedule. The lender will be required to attach this schedule to the offer. The schedule states that they do not claim or warranty anything in the house or the house itself.

You are buying the property as is, where it is.

That offer will have to be without conditions (ex. financing, inspection, the sale of your home…) with a certified cheque. This usually amounts to 4% of the purchase price. This means we will need to have a hard yes from your mortgage advisor that financing will go through.

Once the listing Realtor gets an offer on the property, they submit it to the court.

When the court receives it, they add it to the judge’s schedule/calendar, which is called a docket.

The process for financing is usually:

  1. First, a preapproval where the mortgage lender looks at you. Your income, and your credit history to make sure you are credit worthy.
  2. Value of the mortgage. That process can take up to 2 weeks.
  3. Finally, a signed a letter of commitment from your mortgage lender . This will guarantee your mortgage funds.

With Court of Queen’s Bench listings, mortgage lenders don’t have the luxury of connecting all the dots to you and the property. Without the formal offer because the order is changed with the offer being sent to the judge who will then decide if it’s a yes or no.

This is why having clear communication with your mortgage lender is extremely crucial. If your offer is accepted and then you are unable to get the financing, what happens next, is that you will forfeit of your deposit.

In the event that there is more than one offer that is to be presented to the judge on the day. The judge could let you know how much each offer is so that you have the opportunity to change your offer which can then improve your position.

Should this be the case, and with financing being so different, we always have to bring the mortgage lender in on the changes. We do this to ensure that they will still approve the mortgage for the new amount. Then it will be passed on to the judge for the courts decision.

So despite coming at a great price, Court of Queen’s Bench listings comes with some chances. Especially if you are looking to get financing and not paying cash.

Start Living the Life of Your Dreams in Leduc, Let’s Connect!
CALL- Cell: (780) 718-8461 or Office: (780) 986-8407 | EMAIL – tarah@investleduc.com | VISIT US – 4810 50th Ave, Suite 100Leduc, AB T9E 6X9

REALTOR | INVESTOR | COACH

Listen to the Inside Leduc Podcast

New High School

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New High School. In the December City Council meeting the city council approved the change in the new Crystal Creek Area Structure Plan. This plan was changed to bring the new high school to the north eastern part of the development, as they are looking to bring all the students from the surrounding areas to this school. Given that they thought that being next to the highway would be of benefit to help with the traffic that will be there.

They originally had planned to have the sports fields be shared with another recreation center that they are looking to build on the west side of Leduc as well, one with dual indoor soccer fields. But with the quickness of the design and development of this new high school, they are unsure if this will be the case.

“The school will have a building area of 9,881 square meters, and will open with an initial capacity of 1121 students.

Once complete, the school will offer the following additional programing along with the core curriculum: cosmetology, commercial food preparation, band, drama, fine arts, woods, fabrication, foods, broadcasting, photography, robotics, horticulture, and outdoor education.“ November 9th Blackgold School Division.

The school will be built by the Alberta  Public-Private Partnerships Framework P3.

That means “For Alberta P3 projects, the public sector retains ownership of the infrastructure and remains accountable for providing services to Albertans. In this regard, there is no difference between infrastructure procured either through a traditional or a P3 approach.

For example, school boards own the schools procured under the Alberta Schools Alternative Procurement P3 project and deliver education as they do in any other school in the boards’ jurisdictions.” Page 14 of Alberta’s Public Private Partnership Framework and Guideline | 2020

I remember during the last election, there was an independent who stated on his platform that this is something that he would do to save money, as they won’t carry the cost of owning the building but can still retain the education that will be provided to the citizens.

In my research for this I found a book called The Role and Impact of Public-Private Partnerships in Education.  The back cover of the book states “Enhancing the role of private sector partners in education can lead to significant improvements in education service delivery.

However, the realization of such benefits depends in great part on the design of the partnership between the public and private sectors, on the overall regulatory framework of the country, and on the governmental capacity to oversee and enforce its contracts with the private sector.

Under the right terms, private sector participation in education can increase efficiency, choice, and access to education services, particularly for students who tend to fail in traditional education settings. Private for-profit schools across the world are already serving a vast range of users—from elite families to children in poor communities.

Through balanced public private partnerships (PPPs) in education, governments can leverage the specialized skills offered by private organizations as well as overcome operating restrictions such as salary scales and work rules that limit public sector responses.”

This is definitely something that I am going to have to do more research on as it seems to be a rabbit hole of information, but something that the province has been doing for a long time, as the ring road in Calgary and the Ring Road in Edmonton are also created through is 3P partnership.

Not that transportation is the same as education, but it shows how long this has been going on in our province with some degree of success.

Start Living the Life of Your Dreams in Leduc, Let’s Connect!
CALL- Cell: (780) 718-8461 or Office: (780) 986-8407 | EMAIL – tarah@investleduc.com | VISIT US – 5110 50th Street Leduc,
Alberta T9E 6Z6

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