TORONTO, Dec. 11, 2019 /CNW/ - The Carpenters District Council of Ontario this week announced their support for Toronto Mayor John Tory's plan to move the city forward with badly needed infrastructure funding by expanding an existing levy by 1%.
"Moving the City of Toronto forward for our children, our grandchildren, and ourselves, should not be a political football. Tough, bold, decisions have to be made," says Mike Yorke, President of the Carpenters District Council Ontario.
Toronto's recent designation as the fastest growing city in North America means the city has to get its funding right for shovel-ready infrastructure.
"The Carpenters of Ontario and the GTA support Toronto Mayor John Tory's leadership on getting transit and affordable housing built – something he was elected to do," Mike Yorke, continues.
The levy, called the "City Building Fund", would continue over the next six years by adding 1% to the existing 0.5% levy in 2020 and 2021. The 1.5% levy would cost the average Toronto household $43 a year – less than 12 cents a day.
What makes this special, according to Mike Yorke is the fact these new funds are dedicated for transit and affordable housing – and won't get swallowed up in other city budgets in what is termed "general revenue". "These new city infrastructure funds are clearly earmarked so that residents -- and the rest of the Province -- can see real, concrete results," Yorke adds.
Studies indicate that Toronto's status as the economic engine of the Province will only increase, with the city adding over 70,000 residents last year alone. Other funding approaches have either been turned down or haven't received the needed political support from the Province. "This is what the Mayor can do right here, right now in order to get it done," Yorke says.
In addition to funding the city's badly needed transit and repairs, an independent study on affordable housing from Toronto developer Greenwin Inc. shows that affordable housing creates direct dividends in both healthcare cost savings, where some people regularly use emergency wards as a form of shelter, and policing, where jails often house the effects of the under-housed and homeless.
"Infrastructure investment creates a ripple effect and is a win-win for jobs, the economy, and the city," says Yorke.
SOURCE The Carpenters District Council of Ontario
For further information: Mike Yorke, President, Carpenters District Council of Ontario at 905 652-4140