Toronto mayor John Tory has released a letter acknowledging that the city will receive $4.8 billion from the federal government for future transit projects. The funding Is part of phase two of the federal government’s public transit infrastructure funding.
“I would like to thank Minister Sohi and the federal government for providing transformative transit investments based on the ridership of municipal transit systems, of which the TTC carries the highest number of riders from throughout the region every day.
Tory notes that the funding awarded will go towards Toronto’s transit network expansion plan, including the Downtown Relief Line, Waterfront transit, and the Eglinton East LRT.
The mayor also noted that the provincial government will be expected to pay its share of the project funding as part of the agreement.
“I am also happy to see that our provincial partners will be required to contribute at least 33 per cent of the project costs, and encourage the Province of Ontario to commit to a 40-40-20 cost share arrangement, as advocated for by the Federation of Canadian Municipalities, Big Cities Mayors’ Caucus and following the lead of the province of British Columbia.”
While details of how the funding will be specifically allocated has not been released, the funding commitment from the federal government will allow Toronto to proceed with its future transit plans for the city.