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 consultation:
• Development Charges
• Employer Payroll Tax
• Fuel Tax
• High Occupancy Tolls (HOT)
• 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 (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.