Federal Government of Canada reaches financial close on its contract for their Long-Term Accommodation Project with Plenary Properties

On January 31, 2011, the Federal Government of Canada reached financial close on its contract for their Long-Term Accommodation Project (LTA) with Plenary Properties, who will design, build, maintain and project finance the new 775,000 square foot facility. The LTA is the second phase of the Communications Security Establishment Canada accommodation plan to house Canada's national cryptologic agency, which provides the Government of Canada with two key services: foreign signals intelligence in support of defence and foreign policy, and the protection of electronic information and communication. The LTA is one of the first modern public-private partnership projects to be undertaken by the federal government and the first and only IT public-private partnership of its type anywhere in the world. The new facility is planned to be completed August 2014. A team of Fasken Martineau lawyers (infrastructure/PPP and project finance), acted on all aspects of the procurement and financing on behalf of the Federal Government of Canada and continue to advise during the construction phase. The project won the 2011 Canadian Council for Public-Private Partnerships National Silver Award for Project Finance.