The federal government announced they would contribute $4.8 billion toward 1/3 shares of transit projects in Toronto. City council has submitted four priority projects for the federal transit fund:
- The Relief Subway Line ($6.8 billion)
- RER ($3.7 billion)
- Eglinton East LRT ($1.7 billion)
- Waterfront transit ($1.5 billion)
Together, the projects are estimated to cost $13.7 billion.
I sincerely thank the federal government for their significant contribution. Among other important projects, this marks the first capital money for the much-needed Relief Subway Line.
The federal government has required the Province and the City to each contribute a 1/3 share for the projects. The province has yet to confirm their participation and I have concerns regarding the City’s ability to pay its share as we have reached our debt ceiling as a result of ill-advised projects including the Scarborough Subway and the Gardiner East rebuild.
If the province and Council make clear choices about their priorities, we can work together to ensure that this federal funding kick starts the next wave of important transit projects in Toronto.
For more information, please see this article.