The council will be seeking thoughts on how the money should be spent at two engagement events taking place at Peterhead Academy's Assembly Hall on Thursday 28 February and Wednesday 6 March from 4pm to 8pm.
Cllr Gillian Owen, Aberdeenshire Council's Education and Children's Services Committee Chair, said: "These are really exciting times for Peterhead as we begin to picture what a raft of new facilities could look like and where they could be placed.
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"The engagement events are designed to get feedback on this ambitious plan to deliver fit for purpose facilities which meet the needs of all our young people and communities. This is a vital opportunity to reshape Peterhead and I hope as many local people take part as possible."
The budget was agreed in Aberdeenshire Council's capital plan in 2018. A key element of the masterplan is for the construction of a new academy in Peterhead, which is to be built either on its existing grounds or at a separate site at Kinmundy.
The public will also be asked for their thoughts on what should be included in the possible replacement/improvement of other facilities and schools in the town. This could be part of the campus development, but it is important to consider the needs of the town as a whole.
Buchan Area Committee chair, Cllr Norman Smith, added: "Whilst £71million is a lot of money, it will still be necessary to prioritise. That's why we would like as many people as possible to give their views so that the money can be spent on those things that matter to those living in Peterhead and Buchan."
