TORONTO, April 2, 2013 /CNW/ - Metrolinx has released a short list of
investment tools for consultation that will help decide how transit
expansion is funded in the years ahead.
Metrolinx is developing an investment strategy to help finance The Big Move and the next wave of projects including the Downtown Relief Line, the
Yonge Subway Extension into York Region, new rapid transit in
Mississauga, Brampton, Hamilton, new bus rapid transit corridors in
Halton, Peel, Toronto and Durham, and major changes to the GO Transit
rail network, municipal transit projects, roads and highways and green
transportation options, such as cycling and walking.
Metrolinx examined over 25 investment options—strategies and investment
tools to fund transit—that are used in other jurisdictions and received
input through a series of 12 round table meetings with residents across
the GTHA on ways to fund public transit.
"We want to continue our conversation with municipalities, stakeholders
and the public to help us deliver our investment strategy," said
Metrolinx CEO Bruce McCuaig.
Metrolinx is considering the following investment options for additional
Employer Payroll Tax
High Occupancy Tolls (HOT)
Land Value Capture
Parking Space Levy, including pay-for-parking at transit stations
Transit Fare Increase
Vehicle Kilometres Travelled (VKT) Fee
"At our round table meetings, we heard that there is wide recognition of
the problem of congestion and there is impatience for a solution," said
Metrolinx CEO Bruce McCuaig. "Participants want to see more transit and
transportation expansion, they understand that this requires
significant investment and overall they supported tools to build new
transit and transportation."
Metrolinx is required to provide advice on investment tools to the
Ontario government and GTHA municipalities through an investment
strategy. The investment strategy, to be released by June 1, will
provide funding options for implementation of The Big Move, Metrolinx's regional transportation plan.
Metrolinx is working to provide residents and businesses in the GTHA
with a transportation system that is modern, efficient and integrated.
Find out more about The Big Move at www.bigmove.ca.
For further information:
Anne Marie Aikins, Manager, Corporate Communications & Media Relations, (416) 576-0859, firstname.lastname@example.org