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New Transit Funding Sources

innsertnamehere said:
They will need half of that alone for the DRL, presuming a 40/40/20 split. More if it's 33/33/33.
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Under a 40/40/20 split, total funding would be roughly $12 Billion.

Under 33/33/33 split, total funding would be roughly $15 Billion.

With the DRL costing $7.5 Billion, and Eglinton East and Waterfront Transit each costing around $2 Billion, there should be more than enough money to fund those priority projects.
 
I'm wondering where the city share is going to come from, Tory has made no mention of how he is going to pay for it.
 
Why exactly are Colle and Tory jumping for joy here? $4.8 billion is going to Toronto for transit over the span of 11 years, which if they actually did proper math is the equivalent of roughly $436 million/year. That amount of money wont even get them a downtown relief line.

Dont get me wrong this is a good start for reliable and consistent funding for transit in this city, but let's be realistic they have to demand for more.
 
Amare said:
Why exactly are Colle and Tory jumping for joy here? $4.8 billion is going to Toronto for transit over the span of 11 years, which if they actually did proper math is the equivalent of roughly $436 million/year. That amount of money wont even get them a downtown relief line.

Dont get me wrong this is a good start for reliable and consistent funding for transit in this city, but let's be realistic they have to demand for more.
Click to expand...

It's $4.8 Billion from the federal gov't, with the stipulation that the feds aren't paying more than 33% of project cost. What that means is that, assuming other levels of gov't get their sh*t together, Toronto will be seeing $15 Billion of transit investment in the next 11 years.
 
TheTigerMaster said:
It's $4.8 Billion from the federal gov't, with the stipulation that the feds aren't paying more than 33% of project cost. What that means is that, assuming other levels of gov't get their sh*t together, Toronto will be seeing $15 Billion of transit investment in the next 11 years.
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Toronto is in for a struggle to finance an additional $5B in debt over even a 30 year term without a significant tax hike.

That said, I think a majority in Torontonians would happily re-elect Tory if he did add a ~10% project specific transit levy for a 30 year term. His approval rating may actually increase because of it (actually getting something done).
 
Amare said:
Why exactly are Colle and Tory jumping for joy here? $4.8 billion is going to Toronto for transit over the span of 11 years, which if they actually did proper math is the equivalent of roughly $436 million/year. That amount of money wont even get them a downtown relief line.

Dont get me wrong this is a good start for reliable and consistent funding for transit in this city, but let's be realistic they have to demand for more.
Click to expand...
The city with ~20% of the province's population is getting >50% of the feds transit infrastructure dollars earmarked for Ontario.....i get why this is....but a "please sir, may I have some more" approach may raise more opposition than it is worth.
 
AlvinofDiaspar said:
From Twitter:

Ben Spurr‏Verified account@BenSpurr 42m42 minutes ago
Mayor's office says Toronto set to receive $4.8B for public transit from federal gov't. In line with previous estimate of about $5B.

Ben Spurr‏Verified account@BenSpurr 37m37 minutes ago
Feds are stipulating that province must fund at least 33.3% of new projects. Mayor is still pushing for a 40-40-20 fed/prov/city split.

Ben Spurr‏Verified account@BenSpurr 37m37 minutes ago
City's four priority projects are Relief Line, SmartTrack, Eglinton East LRT, and Waterfront transit. That's where money will go.

Ben Spurr‏Verified account@BenSpurr 36m36 minutes ago
However, feds say $4.8B includes $660M already allocated for Scarborough subway. City's position is that should be separate.

AoD
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$4.8B per year is more than I expected.

The Liberals increased the deficit from 0 to $25B/yr.. Assuming Toronto is about 10% of Canada's population (Toronto less, but GTA more), I was expecting something more like $2.5B/yr.
 
TheTigerMaster said:
I believe the percentage is based on transit ridership.
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Yes it is (although originally I thought they were going to use a combo of pop and ridership like is used for gas taxes)......I don't think it is wrong that Toronto is getting a huge chunk of the miney....,I just think if it went any further the government would have a hard time selling it to their own MPs never mind tidings repped by other parties.
 
TheTigerMaster said:
I believe the percentage is based on transit ridership.
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The funding is based on 70% ridership and 30% population.

BurlOak said:
$4.8B per year is more than I expected.
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We would all be in heaven if the funding was $4.8 Billion/Year. Divide that number by 11 and that's what Toronto will get each year from the feds.
 
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