bobbob911
Active Member
How much was the province willing to spend on the LRT option again?
$1.4B, plus $400M to upgrade Kennedy station for LRT. That $400M is now assigned to the Eglinton Crosstown which will end at Kennedy as well.
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How much was the province willing to spend on the LRT option again?
The province would, however, allow Toronto to take that $400M from new Metrolinx revenue tools. That 7% cut of $1.5B/year would do it pretty quickly.
They are only confirming transferring $1.4 billion. The remaining $0.4 billion is required to the underground section of the Eglinton Line from west of Kennedy Road to Kennedy station, and the new underground platform ... and perhaps to cover the costs already sunk into the SRT.The city, Metrolinx and the TTC agreed last year that the SRT would be converted to an LRT with $1.8 billion in provincial funding by 2020. This project was on the funded project list. They are just confirming they will switch the funding to the subway build instead of revoking it as threatened by CEO of Metrolinx.
drum118:
Well, does the city want the subway bad enough to cough up the cash needed? I think Scarborough and the rest of the city need to answer that one.
AoD
Not only is there no overriding reasons why the city can't do it now, the proposed taxation increase passed yesterday covered the contingency of no Federal funding AND only $1.395 billion from the province.Well, does the city want the subway bad enough to cough up the cash needed? I think Scarborough and the rest of the city need to answer that one. Municipalities contributed 1/3 of the Spadina extension - are there any overriding reasons why the city can't do so now, other than political expediency?
$1.4B, plus $400M to upgrade Kennedy station for LRT. That $400M is now assigned to the Eglinton Crosstown which will end at Kennedy as well.
the proposed taxation increase passed yesterday covered the contingency of no Federal funding AND only $1.395 billion from the province.
Committing to a property tax increase over three years, dedicated to funding a Scarborough Subway, in an amount of 1.1%
And $85 million sunk costs. The province only was putting $1.395 million on the table, and today they said $1.4 billion.Actually, it was $1.48 billion, with $320 million for the Kennedy redo. But today Murray is saying $1.4 billion.
No, it didn't -- what was actually passed (as opposed to in the City Manager report) was
Committing to a property tax increase over three years, dedicated to funding a Scarborough Subway, in an amount of 1.1%
This is amended from Ford's original motion, and the point of the amendment was to lock in that that the project is dependent on $1.8 billion in provincial funding.
And $85 million sunk costs. The province only was putting $1.395 million on the table, and today they said $1.4 billion.