Northern Light
Superstar
I believe that leaves the SSE with 2.97B or 380 short, if current estimates hold.
The $1.48 provincial cost is in $2010. They will be escalating their portion proportionately, so that is where your $380 comes from.I believe that leaves the SSE with 2.97B or 380 short, if current estimates hold.
So the City will be receiving 4.89 Billion from the feds. That's 40% of the total amount, thus the total amount is $12.25 Billion. But we have to subtract the federal contributions to the SSE and SmartTrack, which total $1.24 Billion and $660 Million respectively. So that's $10.35 Billion in new money.
From the Star article:
Council has advanced five priority transit projects, which together are estimated to cost at least $17.5 billion.
They are the Scarborough subway extension, SmartTrack, the relief line subway, Eglinton East LRT, and Waterfront LRT network.
The SSE and SmartTrack are already funded from a pool of money separate from the $10.35 Billion in new money. So that $10.35 Billion can be used for DRL, EELRT and Waterfront LRT. It looks like there is enough money to fund all three. This is all assuming that the city ponies up it's $3.3 Billion contribution (which is part of the $10.35 Billion total).
I'm unsure of the status of the Eglinton West LRT. Is that considered part of the SmartTrack funds? If it is, then we're golden.
Anyways this is a really good day for Toronto. The challenge will be generating that $3.35 Billion in a reasonable timeframe. Thoughts?
Read this:I am surprised that the condo boom for the last decade did not translate into increase in city revenue.
I believe that's already taken care of via some SmartTrack/GO funding that was announced several years ago during the Trudeau campaign.
Nitpick.... I don't believe anyone has agreed to fund the portion west of the City. There was an assumption that City of Mississauga and or GTAA would fund some part of the extension to Pearson. See City Council Report from 2016
- Paul
I hope the new funding will cover Sheppard East LRT. Does that seem reasonable?
SELRT is already funded (supposedly).
From a transport perspective, yes. But HSR to London is really meant to be a economic stimulus project. London's population is expected to plateau by 2030, at which point it risks going through a long period of economic stagnation/decline much like the Rust Belt cities in Ohio across the lake (in fact, some say that Southwestern Ontario is already the Canadian Rust Belt, with its decline in manufacturing). The idea is to "save" London by essentially turning it into a suburb of Toronto with the HSR line. The line is supposed to be completed sometime around 2030 and hopefully make London a more attractive place to live.
But in reality it likely isn't, no? I hope some of the new funding can help with Sheppard East (or Jane for that matter). Although I'm torn between tearing another chunk of the limited pot of money for one of the Transit City lines or hording everything for the DRL to push it as far north as possible.
But in reality it likely isn't, no? I hope some of the new funding can help with Sheppard East (or Jane for that matter). Although I'm torn between tearing another chunk of the limited pot of money for one of the Transit City lines or hording everything for the DRL to push it as far north as possible.