It will be the first PPP of this size in the province with up to CAN$50m in government funding.
"We know these big things are happening and we know we have to build some sort of a funding model," said Marlys Bilanski, the city's finance manager.
The project is part of the city’s 10-year strategy, which was approved at a council committee earlier this week.
Saskatoon’s administration must now enter negotiations with PPP Canada, the country’s federal PPP authority.
The provisional funding plan lays out a strategy to pay for two new fire halls at $13m, a $91m police station, $15m to add city hall office space around 2015, and $200m for the transit and public works relocation.
Construction of the first phase of the new headquarters would start in 2013 and be completed in 2014. It will include offices, plus bus and equipment storage space for two relocated city departments.