City report outlines preferred transit funding tools
A city staff report calls on Toronto council to support, with conditions, a handful of new revenue tools to pay for region-wide transit expansion.
Released Tuesday, the city manager’s report suggests council support the funding measures to help pay for the Big Move, the province’s 25-year, $50-billion transit expansion plan.
Specifically, the report calls on the city to support:
- Development charges.
- Fuel tax.
- Parking levy.
- Sales tax.
But the report also calls on council to attach certain conditions.
Among them is a demand that 25 per cent of all new revenue generated be handed over to municipalities to spend as they see fit for local transit expansion.
Other conditions outlined in the report include:
- Money from all new tools be dedicated to transit expansion.
- New fees be spread evenly across the region and between residents and businesses.
The report also says the city should support the following measures after $16 billion of the Big Move plan has been spent:
- High occupancy toll lanes.
- Highway tolls.
- Vehicle registration tax.
Metrolinx, the transit planning arm of the provincial government, is expected to announce its funding plan in June.
Toronto Mayor Rob Ford reiterated Tuesday that he is not in favour of adding any new tolls or taxes.