On the heels of its big award, the TTC will get a huge influx of cash thanks to the federal government.
In a statement released today, Mayor John Tory said Toronto is expected to receive, "$4.8 billion of Ontario’s $8.34-billion allocation from the Government of Canada for our transit network expansion plan, which includes the Relief Line, Smart Track, the Eglinton East LRT and Waterfront transit."
According to a news release from TTC Chair Josh Colle, Infrastucture Minister Amarjeet Sohi outlined in a letter a cost-sharing plan that said Toronto transit projects should receive one third of their funding from the province.
Colle's statement says the city will advocate for a 40-40-20 funding model that's split between all three levels of government.
Regardless, a nearly $5 billion investment seems like a huge boon for public transportation in the city.
by Staff via blogTO
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