Fall 2013 Updates
Report TT2013-0290, Investing in Mobility: Transit Corridor Cost/Benefit Analysis was referred to the Administration for further work on the criteria, ranking and weighting and to return to a Strategic Planning Meeting of Council no later than 2014 February. Look for an update on the exact meeting date closer to February.
Funding and Financing
In March of 2013, City Council directed Transportation to host a workshop by the end of the year to identify innovative funding and financing options that would allow construction of the Southeast Transitway. Finding new ways to fund this project is important because The City currently does not have enough funding to build all of the transit corridors shown in RouteAhead’s 10-year rapid transit network.
The Investing in Mobility and RouteAhead teams are working with the consulting firm AECOM to hold a targeted workshop in December. The consultant has recently done similar work to identify ways to fund and finance Toronto’s Big Move plan.
The consultant’s report will be released publically in January, and reported to Council for information.
The consultant’s report will help to identify possible ways to fund and finance the Southeast Transitway, but will also apply to other unfunded transit and transportation projects. Additional public engagement and analysis will be needed after the consultant report in order to make final recommendations to Council.