[steveintoronto]

If Ontario has made such a binding commitment to backstop the debt that the street is supportive - in effect co-signing the loan with ML - then that liability belongs on Ontario’s balance sheet.

"Backstop" becomes a key word...but as you infer, it's not as simple as it might look to be first glance. Beyond the obvious logical equations of the two levels of government offering backstops (an assumption, but for the sake of making this point): What if a follow-on Ontario government decides to do what this regime claims it can, and "legislate away the previous government's commitment" ( Cancellation of German-owned Ontario wind project prompts warning , Beer Store contract, etc) where would that then leave the InfraBank? And if CIB is 'on the hook' (highly unlikely due to legal structure, but for the point of argument), then who backstops them? Or does the 'buck stop there'?

This is a highly abstract 'what if', but in the absence of much or any detail as to how any of these levels work, all hypothetical questions are valid.

And of course, to quote many NeoCons: "There is only one taxpayer". Indeed. That logic works both ways, but who wears it?

Post Script: And further to the abstract scenario, albeit this could and perhaps should apply to many if not all CIB 'investments': Be declared "For the General Advantage of Canada" or not? It would immediately address the consequences of 'being on the hook' for "backstopping" underwritten agreements. It's not quite that simple, but again, this is an abstract scenario.

This allows Parliament to declare a work, even though "wholly situate within the province," to be for the general advantage of Canada, or of two or more provinces, and therefore to come under federal jurisdiction. ... More recently, the declaratory power was used to make Canada's nuclear industry a federal matter.

Section 92(10) powers are an extremely important and often used part of the Canadian Constitution. In the first five decades of Canadian history, the declaratory power was invoked more than 400 times, mostly to ensure that Canada's burgeoning railway system grew to national advantage. By the First World War, virtually every inch of rail track in Canada was under federal jurisdiction.

- : Tom Flanagan is professor of political science at the University of Calgary and a campaign manager for conservative parties.
https://www.theglobeandmail.com/opinion/to-connect-the-pipeline-connect-the-dots/article4461040/

This would immediately give VIA preferential status along with/above GO operations on a line that is 'invested in' by the Federal Gov't, either directly or via the CIB. In other words, if the Province defaults in fact or in principle, the Feds claim full possession in terms of administration via Parliament, subject to court deliberations for the status of the private investors who invested via the CIB.

 

[rbt]

I don’t dispute the truth of what you are saying, but if that is the reality it’s unfortunate.

Found a bit of information about how this debt offering works. It's $2B to be offerred to the winning bidder, so it won't show up as debt on Ontario's books. Metrolinx will be making payments to the winning bidder for a predetermined period of time (35 years for operations?) which is a liability but not a debt, so I'm not sure how that'll be booked.

The $2 billion commitment from the Infrastructure Bank will give the project a substantial leg up.

The CIB said the backing will “improve the cost of financing and attract private capital while ensuring appropriate risk transfer to the private sector.” Unlike traditional funding, the money will come in the form of a standardized debt financing package offered to all proponents during the RFP period. Once the province singles out a preferred proponent, the CIB will finalize the credit deal with the winning team and provincial agencies Metrolinx and Infrastructure Ontario.

Infrastructure Bank commits $2B to Ontario GO Transit expansion as province issues RFP to four bidders - On-Site Magazine

The multibillion-dollar expansion aims to modernize the Toronto area's regional rail network through a series of new construction projects and upgrades

www.on-sitemag.com

 

[steveintoronto]

^ By far the best overview published so far that I've read. I note RICS having an article linked on the page. RICS is a well known neutral UK stalwart for overviews on the UK housing and mortgage market.

The UK Residential Market Survey is used by the government, the Bank of England and other key institutions, including the IMF, as an indicator of current and future conditions in UK residential sales and lettings. It is covered extensively in the media and is the leading source of market intelligence, highly regarded both by investors and across the industry.

UK Residential Market Survey - RICS

RICS promo for this Expansion announcement:

Building trust is key to successful infrastructure projects
February 15, 2019 by RICS

High performing infrastructure is an enabler for growth, prosperity and the well-being of citizens. Even if infrastructure delivery is a priority for governments, there are often concerns about delays and transparency regarding infrastructure projects, programs and portfolios. That is why governments should insist that the International Construction Measurement Standards(ICMS) are followed.

There is an issue with the provisioning of accurate and timely project information to policymakers and government decision makers. Lack of accurate project budget information upfront, as well as project progress and cash flow data during execution, can cause distrust among key stakeholders in the infrastructure delivery value chain.

Some of this distrust stems from the absence of international standards in project management and commercial management of infrastructure projects. Without consistent and internationally-agreed upon industry standards, neither project sponsors nor owners can ensure that benchmarks are being met, and that best practices are being followed. Definitions and common practices differ across the country muddying contracts where they should be transparent. Moreover, data is not collected and reported in a standard, consistent and comparable form.
[...]

LEARN MORE

Wise counsel for an agency (ML) and a gov't (QP) who've been anything but accountable in the past, as audit after audit has shown. There's no sign of the present regime being any better. Quite the opposite so far.

 

[drum118]

May 4
Late to the show as I only got around doing the photos I was supposed to work on while away, but left them at home.

Exhibition: Couldn't get a right hand window seat from Toronto to shoot the work I saw on my westbound train in the morning to Oshawa. Weather was chap on westbound trip

Whitby Open Doors: Will those foundations footings see poles for the electrification?? 4515 was the highest coach number I saw. Too bad they din't have one of the newest locomotives on display, but a few were out testing that I shot.

Retaining wall to allow track to get up to grade at the yard east end

 

[DonValleyRainbow]

Not sure if this involves any mainline work that benefits GO, but work in the Guelph Junction area came to a head this morning, resulting in a protest and blockade.

‘Unacceptable’: Mayor responds to train noise complaints

 

[steveintoronto]

Not sure if this involves any mainline work that benefits GO, but work in the Guelph Junction area came to a head this morning, resulting in a protest and blockade.

GO not affected, this is the north-south ex Guelph and Galt Railway now the Fergus sub for CN that crosses and intersects at Guelph Junction.

More details here:
https://www.guelphmercury.com/news-...gered-with-devastating-train-horns-overnight/

It intersects with a stub of Guelph Junction Railway at the north end, thus the comment from GJR:

Les Petroczi, GM of Guelph Junction Railway, said CN didn't notify the city of the work that needed to be done. He said he hopes to speak to someone from CN soon. "We're working on it. That's all I can say right now."

This is beyond crass that CN, even though technically within their rights, would be so incredibly insensitive on the issue. GJR, for instance (owned by the City of Guelph) only operates during business hours. GJR and CN share running rights over some of the north end of the tracks, the spurs into the industrial area being owned by the City. That CN didn't alert GJR might be contrary to federal regs.

None of the work by Metrolinx contractors replacing the rails and switches in the Edinburgh Rd area was intrusive like this, and that's on the mainline. How CN justifies this is going to be interesting.

Map helps to show area affected:
https://www.google.ca/maps/place/Gu...c6031920415baf!8m2!3d43.5434404!4d-80.2488735

More here with pics and other details. Vid is posted at the above linked article.

https://www.guelphtoday.com/local-n...-honk-horns-at-all-hours-of-the-night-1487127

Here's the blockade, looks like Raglan and Edinburgh facing west:

https://twitter.com/stefcyclops

Any claim by CN that it's necessary to do this at night will put the blame on Metrolinx' use of the mainline this intersects with, but Metrolinx use it as peak only and VIA use is only a few times a day.

 

[Allandale25]

^ Doesn't look like it's on the mainline.

 

[KevinT]

My experience here in Kitchener is that GEXR ran a much quieter operation than CN. There's a lot more freight parked on the sidings here now with much of the jockeying taking place overnight (a GO/VIA induced necessity?), and the engines CN uses to push it around look too decrepit to even still be running. They are unbelievably loud compared to the rental pool engines GEXR was using, and they crash and bang around a lot more when assembling trains in the yard. My overall impression is that GEXR was more sensitive to traffic blockages on Lancaster at the west end of the yard, and well aware of their proximity to the residential area across Victoria street, whereas CN just doesn't seem to care.

To their credit however, CN has also done a lot of surveying of the Waterloo spur and marked innumerable problem areas for repairs. It's amazing there hadn't been a major spill with the nightly chem train to Elmira under GEXR given how poorly that track was maintained: Ties rotted to nothing, joints missing bolts, rails split lengthwise and starting to compress and blow apart at the sides, ballast washouts with humps, pits, and rolls galore. My wife and I biked the spurline trail two weeks ago and there was orange paint everywhere, hopefully the actual repair work will be soon to follow, and I hope it includes some reballasting and tamping of the worst sections.

 

[Allandale25]

^ Update.

https://twitter.com/x/status/1135975252922634243

 

[steveintoronto]

My experience here in Kitchener is that GEXR ran a much quieter operation than CN.

It would be nice if the southern section of that line (run as a separate spur, often referred to by various wishful thinkers as a potential transit line from Guelph to Cambridge) down to Cambridge was also due for refurbishment as it's in even worse shape than what remains of the northern stub. Parts of it still have rail from the Twenties (including the bridge in Hespeler over the Grand)(it's not just GEXR who've shown no love). There was a freight run twice a week from the Alma Yards down to Cambridge to service the car factory and a few other industries when GEXR was operating it. Don't know what the service level is now, if any.

Here's a pic of the section up Edinburgh now being worked on:

©Stephen C. Host

​

Caption: Caboose: GEXR 582 trundles north on the former CN Fergus Sub (Ends 1/3 mile north of photo) with a Caboose - GEXR 79568 bringing up the rear. Until 1970 this line hosted Passenger trains (ending as RDC's) and from 1970 to 1975 or so 80 car bunker C oil trains (Pix anyone?) ran up this line to Palmerston and Douglas Point. The line north of Fergus was abandoned by 1982 and Guelph to Fergus in 1988. This section survives as GEXR's connection to the OSR and the joint industrial track served by both GEXR and OSR.

Photographer:​ Stephen C. Host [924] (more) (contact)​ Date:​ 02/18/2012​

http://www.railpictures.ca/?attachment_id=8428

OSR operate the GJR for the City of Guelph, who are very happy with them. Crews and managers are very friendly and easy to deal with (I used to rent industrial space right next to the track in southern Guelph) The siding in the above pic has been embargoed for years now, perhaps that's being re-established? It was used for for storage when I lived in Guelph up until three years back.

Access to either section is only from the mainline other than the shunt connection from GJR at the northernmost section to access the industrial spurs.

 

[Allandale25]

Latest for the Kitchener Line:

Metrolinx CEO says two-way, all-day GO train service to Waterloo Region is ‘close’

In the meantime, service will continue to increase, Phil Verster says

www.therecord.com

"Significant infrastructure work on the line remains before two-way, all-day service can run in perpetuity — adding track along CN's Bramalea-Georgetown corridor, and building a bridge to allow GO trains to cross over existing track on their way to Kitchener.

"That's a couple of hundred million (dollars) of investment," Verster said."

 

[Quent]

Elon Musk in our heart

 

[steveintoronto]

Elon Musk in our heart

Verster's words are his own petard:

CAMBRIDGE — Metrolinx's chief executive knows when two-way, all-day GO train service is coming to Waterloo Region.

But for now, that remains a secret.

"I just can't get to the point where I can tell you when, even though I know," Phil Verster told a luncheon audience at Whistle Bear Golf Club on Wednesday.

"Have a little bit of patience, but have a bit of expectation," he said. "It's close, it's coming, and the minister will announce it."

Verster said the long-promised service is among his top three geographic priorities in terms of expansion, along with Niagara and Bowmanville. "You can stop asking for services to Kitchener-Waterloo," he said. "We get it, we really do get it."

The business case for the service has been made. It's now a question of how it should be done, and how to do it as quickly as possible.

Significant infrastructure work on the line remains before two-way, all-day service can run in perpetuity — adding track along CN's Bramalea-Georgetown corridor, and building a bridge to allow GO trains to cross over existing track on their way to Kitchener.

"That's a couple of hundred million (dollars) of investment," Verster said. [...]

Well it's no secret at all Phil. It's when you and the Ford Fiasco are gone that it will get done.

Motion calling for province to reveal all-day, 2-way GO plan fails
PC MPPs say they agree all-day 2-way GO is necessary but didn't like 'motive' for motion
Kate Bueckert · CBC News · Posted: Apr 04, 2019 4:23 PM ET | Last Updated: April 4

It was the battle of Waterloo region MPPs in the provincial legislature Thursday afternoon over two-way, all-day GO trains.

Kitchener Centre MPP Laura Mae Lindo introduced a private member's motion that asked the provincial government to provide a timeline and financial plan for when two-way, all-day GO trains will operate to Waterloo region.

Lindo said she wanted that timeline and plan by June 6, the last day the provincial legislature will sit before rising for the summer.

But Kitchener-Conestoga MPP Mike Harris Jr. and Kitchener South-Hespeler MPP Amy Fee said they wouldn't support Lindo's motion.

Harris called Lindo's motion "unhelpful political games" while Fee said Lindo is trying to "trick" residents in Waterloo region into thinking there's a problem with delivering two-way, all-day GO.

"Where I and my colleagues strongly disagree with the opposition and the reason why I'll be not supporting this motion today is on the motives and its approach," said Harris.

Lindo's motion failed to be passed by a vote of 51-22.

Similar motion passed in 2017
Lindo said there's support from businesses, commuters and advocacy groups, including Connect the Corridor which is made up of business leaders in both Waterloo region and Toronto.

She noted a similar motion was made by Waterloo MPP Catherine Fife in December 2017.

"Everybody support it. It passed," Lindo said.

During the election, Premier Doug Ford said they would fund two-way, all-day GO trains to the region.

"This is a promise that was made," she said. "People in my riding believed that."

Lindo said she and Fife had asked Transportation Minister Jeff Yurek for a meeting. They didn't get one, but they did receive a letter back.

"But we didn't get a plan," Lindo said.

Fife also spoke in favour of the motion, saying the commute by bus took Lindo three hours on Tuesday.

"This is not an acceptable condition," she said.

She noted that in 2017, the Progressive Conservatives supported her previous motion. The motion passed unanimously and asked for a timeline by April 2018. The previous Liberal government did not provide a timeline.

As Fife spoke, Harris was called to order for yelling across the aisle.

"I've hit a nerve on the member because you're totally disconnected from the real needs of the Waterloo region," Fife said.[...]

https://www.cbc.ca/news/canada/kitc...ay-go-trains-kitchener-lindo-motion-1.5085041

Opinion | Show us the plan for two-way, all-day GO | TheRecord.com

Apr 9, 2019 - That's especially true when it comes to all the grand and glorious promises ... over the years to bring two-way, all-day GO trains to Kitchener.

Province still committed to two-way, all-day GO service to Waterloo ...

Apr 5, 2019 - KITCHENER — Ontario's economic development minister says his government remains committed to bringing two-way, all-day GO trains to ...
[...]

 

[crs1026]

The phrase “building a bridge” is interesting..... are we back to the flyover?

- Paul

 

[Allandale25]

^ I'd assume so. Metrolinx already referenced it in one of the scenarios in the initial BCA, which we've discussed here before.

SC3 S5 in K1.3 pg 98:

SC2 S6 pg 88: