OK, needless to say, I consider this *overdue* news, and quoting the CP wire on this, save for their actual quotes of officials, wouldn't stand in debate, so let's flip this over for a moment:
In practice, that means projects need to meet federal policy objectives, along with those of the jurisdiction housing a particular project. Projects must also be attractive to the private sector, meaning they need to bring in money to pay off investors.
“Our role is to conduct analysis of options in order to provide commercially confidential advice,” agency CEO Pierre Lavallee said in a statement about the meetings regarding Via Rail.
All well and good! Anyone reading that in this string would realize that's been D-S' argument all along.
Now apply those criteria stated above to the Metrolinx situation.
Seems to me there's a lot of explaining to be done from one end or the other. And this point isn't with VIA, it's with Verster, Fedeli, McNaughton, Yurek and Lavallee. Pardon my extrapolating it from this string's perspective, but this was a point that
@crs1026 raised a week or so back.
The demands being made of VIA *with the information being provided* appear to be far more stringent than with Metrolinx. Again, let's flip this over, what "business case" has Metrolinx provided to the the InfraBank as the basis for that "$2B"...best I quote this:
So far, the agency has gotten involved in two projects, first through a $1.28-billion loan to an electric rail project in Montreal, and last month with up to $2 billion in debt to expand GO Transit’s rail network around Toronto.
And subsequent to that, where was Lavallee's reference to it being "debt-financing" in that announcement that so many have pounced on as gospel truth? (He and all others studiously avoided it...an odd stance for 'regimes imbued with accountability and thrift management')
"$2B" either financed debt or a grant, is a damn good part of what D-S has been asking for and "Transport Canada" are still 'sitting on this'?
Again, even though this is CP wire copy, best I quote exactly:
Transport Canada has been looking over the Via proposal for more than a year, and the Liberals have yet to announce a decision on funding.
And Yurek is totally unable to put detail on what his 'Big Huge Massive Gargantuan Largest P3 In Canada' Announcement is all about?
Hey...what's wrong with this picture?
This is great news for VIA, it keeps the blood flowing...but it poses as many..*more* questions than it answers. And last time I checked the Act that enabled the InfraBank...best I quote and reference:
Canada Infrastructure Bank Act
S.C. 2017, c. 20, s. 403
https://laws.justice.gc.ca/eng/acts/C-6.18/FullText.html
...accountability and due process is all laid out.
Back later...after I've brushed up on a few chapters.
Something doesn't smell right, and I'm being diplomatic...
Who exactly is behind the financing of that "$2B debt" to Metrolinx? And who carries the risk/underwrites it? And the risk stops where?