News Release: Final Payment For Long-Term Toronto Transit Agreement Comes As Province Moves Ahead With Smart Growth Vision

Final Payment For Long-Term Toronto Transit
AgreementComes as Province Moves Ahead With Smart Growth Vision

TORONTO — The province's final bill for improvements to Toronto's major transportation and subway system over the past five years will be $879 million, announced Transportation Minister Brad Clark today. That means the province will make a final contribution of $50 million to reimburse the city for additional costs they identified, as the books close on the 1996 long-term deal to rehabilitate Toronto's transportation system, improve safety and sustain the subway network.

"The Ontario government is settling our account with the city for improvements to Toronto's transportation and transit system," said Clark. "Our focus for the future is to support continued economic growth and job creation in all Ontario communities, including Toronto, by investing in modern infrastructure."

This strategic investment in Toronto's transit and transportation system will benefit the entire Greater Toronto Area.

Clark noted the TTC and in particular, the subway system, plays an important role in the economic strength of Canada's largest city. "Toronto's efficient transportation systems help to support its job growth and help sell Ontario as a good place to invest," said Clark.

"The Harris government has made a commitment to Smart Growth, a plan to build a strong economy, strong communities and preserve Ontario's environment," said Municipal Affairs and Housing Minister Chris Hodgson. "As we move forward with Smart Growth and SuperBuild, we plan to consult municipalities including Toronto on future initiatives."

• Backgrounder: Final Payment For Long-Term Toronto Transit Agreement Comes As Province Moves Ahead With Smart Growth Vision