edmundoconnor
Active Member
AFAIK, that's 50% the city, 30% the province, and 20% the federal government. And the city's portion is not a plain debt, but is covered by a dedicated property surtax. The city has already started collecting that surtax, even though neither construction nor major design work has started.
The city will have to add yet another surtax if it wants to invest in another transit project; that's hard but not impossible.
When we get into overruns (which of course we will), the province and the federal government will be nowhere to be seen. Add another billion for a more realistic figure, and that's only if subway boosters are willing to save the patient by stopping the subway at STC (thus removing much of what little reason for existence the SSE has). If they are hell bent on going to Sheppard, billion and a half, if not more extra. I will be truly fascinated to see the oratorical gymnastics councillors deploy to justify the extra property tax increase.