Thanks to Kenneth Chan for this in VanCityBuzz.
Prime Minister Justin Trudeau’s first budget has pegged $11.9 billion in infrastructure investments over the next five years, split between public transit, housing, and green projects. It represents just a fraction of what the Liberals intend to spend over the next decade.
This includes $370 million for public transit projects in the Metro Vancouver region, an amount that has been termed as the federal government’s “initial” commitment. It represents a drop in the bucket to cover the costs of Metro Vancouver’s multi-billion dollar transit projects. . . .
. . . The federal government says it will cover up to 50% of transit project construction costs, effectively replacing the existing one-third model used by previous governments. At this time, it is unclear whether Premier Christy Clark’s provincial government will be willing to increase its commitment levels beyond the 33% based on the traditional one-third funding model between levels of federal, provincial, and municipal governments.
Federal funding allocations for transit projects will also depend on the estimated ridership levels of the proposals presented by provincial and local proponents, which will likely benefit high-ridership projects like the Broadway subway and Surrey light rail transit.