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Report reveals new transit lines’ steep cost for Toronto

  • marmar (131 posts)
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    Report reveals new transit lines’ steep cost for Toronto

    (Toronto Star)   The city is on the hook for tens of millions of dollars in unanticipated transit costs, and the mayor may be unable to pay for his signature rail plan without breaking his pledge to not raise property taxes.

    Those revelations are in a city report released Monday that details a proposed cost-sharing deal between the municipality and the province for $11.4 billion worth oftransit projects.

    Both the mayor and the provincial government hailed the agreement as a milestone in efforts to expand the city’s transit network.

    Though it lays the groundwork for the delivery of new rail projects, under the proposed terms Toronto taxpayers would be responsible for the substantial operation and day-to-day maintenance costs of three LRT lines that the province is already building or planning to build on Finch West, Sheppard East, and the Eglinton Crosstown route. …………..(more)

    https://www.thestar.com/news/gta/2016/10/31/report-outlines-steep-costs-of-running-new-toronto-transit-lines.html

     

     

     

     

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