Metrolinx shortlist for transit funding
Metrolinx issued its shortlist of revenue-generating tools, which it wants to continue discussing with the public on April 2. The shortlist is part of an investment strategy designed to pay for The Big Move – its big list of regional transportation projects for the next 25 years that’s worth $50 billion.
The shortlist released yesterday includes:
- Development charges.
- Employer payroll tax.
- Fuel tax.
- High occupancy tolls.
- Highway tolls.
- Land value capture.
- Parking space levy, including pay-for-parking at transit stations.
- Property tax.
- Sales tax.
- Transit fare increase.
- Vehicle kilometres travelled fee.
Among the next wave of transit projects slated for construction, affecting or connecting with Toronto, are: a Downtown Relief Line, a Yonge North Subway Extension, and Dundas Street Bus Rapid Transit and Durham-Scarborough Bus Rapid Transit routes.
Metrolinx is required to provide advice on investment tools to the provincial government and Greater Toronto-Hamilton Area municipalities through an investment strategy. That strategy, to be released by June 1, will provide funding options for implementing The Big Move.
Last November, the TTC and Metrolinx signed two master agreements: one agreement that enables the TTC to operate Toronto’s four future LRT lines (the $8.4-billion Toronto LRT Plan) and one agreement that adopts the Presto farecard system across the transit system.