On-going

Way Forward Commitment:

Public assets include everything from land, buildings, marine vessels and aircraft to equipment and machinery, infrastructure and computer software. At the end of the 2016-17 fiscal year, these assets had a net book value of $4.3 billion. While many assets serve a valid purpose, helping provide Newfoundlanders and Labradorians with the services they need, some may no longer provide a net return on investment or meet a strategic policy objective.

In 2018-19, our government will develop an Asset Management Framework to help departments determine how to divest of assets in a manner that ensures optimal social, economic and financial return. In some cases, this may entail selling the asset, while in other instances it may require giving the asset a new purpose within the public sector or in the community. In the meantime, our government will seek opportunities to optimize assets to ensure that they generate an economic benefit for the province.

What We’ve Accomplished:

• The Provincial Government has determined it has no use for the site of the former Grace Hospital Nursing Residence. TW engaged consultant Pinchin LeBlanc Environmental during the year to conduct a hazardous building materials assessment which has now been completed. This will be followed by the engagement of an appraiser to conduct an overall property assessment. These efforts will inform next steps, including the sale of the property and removal of the building.
• An Expression of Interest was issued in fall 2018 for the Harbour Grace court house. A proposal was received and next steps are under consideration.
• Public Disposal of the College of the North Atlantic Springdale Campus Bulding closed on January 24, 2018, with a winning bid of $336,000. An Agreement of purchase and sale is now being finalized.
• As of September 30, 2018, 112 vehicles had been removed from the light-duty fleet since April 1, 2018, meeting government’s vehicle reduction commitment. Efforts are continuing toward improved efficiency and cost-effectiveness.
• Sale of the out-of-commission MV Earl Winsor has been completed with a return of approximately $20,000, while a sale of two surplus, older model water bombers and parts has been completed with a return of over $800,000.
• We are also continuing efforts to optimize the leased office space that we need for providing services. As of January 26, 2019, the cumulative reduction in Government’s leased office space was 103,224 square feet from 2016. This equates to approximately $2.9 million in rental savings annually.
• On June 29, 2018, the Provincial Government announced plans to enhance Marble Mountain Ski Resort as a provincial tourism asset through private sector involvement. A Request for Proposals has been issued to seek private sector interest and will accept proposals for base development, management as well as lease or sale or other potential investment opportunities for the resort.

News Releases:

Government Provides Update on Grace Hospital Nursing Residence, Management of Assets

Provincial Government Exploring Opportunities for Marble Mountain Ski Resort