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Signing the first P3 for the Valley Line was contentious, but was the only way to get federal funding for the massive project under former prime minister Stephen Harper in 2012. Iveson was a councillor then, and said he asked many questions about how a second phase could be funded.

That decision was also made in private.

“At the time, a lot of people didn’t believe we’d get to Phase 2 … but here we are,” said Iveson Tuesday. “It’s a good problem to have.”

City administration will be finalizing its approach to the west extension of the Valley Line in the next six months. They’re due back in front of council with an update early this fall.

The TransEd consortium includes well-known companies Bombardier and EllisDon. It’s a $1.8-billion contract to build the Mill Woods to downtown line, and to handle daily operations and maintenance for 30 years. The contract pays them to take on nearly all the risk associated with the project.

Adam Laughlin, deputy city manager for infrastructure, said officially all options are still on the table, including several forms of public-private partnership.

An arrangement is called a P3 as long as the private corporation has a financial stake in the project, usually involving either financing, operating and/or maintenance, he said. They’re in talks with TransEd about potentially having them operate on the new line and possibly doing certain aspects of the construction.

But the city is also analyzing what value for money it would get from that kind of deal. Anything they agree to has to conform to international trade agreements and gain federal and provincial approval.