Canada Line City Centre platformA long time ago in a boardroom far far away, the TransLink Mayor’s Council set out a 10-year transit plan. In it was a series of relatively small improvements (Phase 1: the “first round”), in addition to tech planning on the glitzy big-dollar items like Broadway Millennium Line expansion, Patullo Bridge replacement and Surrey-Newton-Guilford light rail.  The Feds promised funding; so did the Provs.  But local Gov’ts were working on new funding sources.

Feds             $ 370M (capital expenditures)
Provs           $ 246M  (capital expenditures
“Regional”  $ 600M (capital expenditures)
.                    $ 800 M (10-year operating costs)

Today, we have a part of the picture, possibly bringing in $20M per year (subject to Provincial enabling legislation and TransLink board approval).
With thanks to Rattan Mall in VoiceOnline.com.

. . .  a new development cost charge (DCC) for transit investment. The charge will be set in a way that it can fund transit expansion without influencing housing prices.
DCCs are a one-time fee that would apply to new development to help fund growth-related infrastructure costs. . . .
TransLink will target the new DCC to raise about $20 million per year. TransLink is proposing setting residential rates between $1,200 and $2,100 per unit of new development. Non-residential rates could be set between $0.50 and $1 per square foot. Final adjustments to the rates will be made in 2018 in consultation with stakeholders.

Phase One Plan   (updated July 27, 2017)
Regional Funding Overview
(*) today’s announcement

  • (*) Introduction of a new region-wide development fee for transit and transportation.
  • Gradual annual increases to transit fares of about 5 to 10 cents on a single fare and $1 to $3 on a monthly pass.
  •  Adjusting property taxes to better reflect the impact of growth and development in the region.
  • Use of TransLink’s existing resources, including through the sale of surplus property  (note the windfall here from the Oakridge Transit Centre sale)

Deliverables Overview

  • Increase conventional bus, HandyDART, SeaBus, SkyTrain, and West Coast Express service – the largest transit service increase since 2009.
  • Upgrade transit stations and exchanges across the region.
  • Expand the length of the Major Road Network for the first time since 1999.
  • Provide municipalities with expanded funding for walking infrastructure, cycling infrastructure, and upgrades and seismic rehabilitation of the Major Road Network.
  • Prepare for future transportation investments, such as the Millennium Line Broadway Extension, South of Fraser Rapid Transit, Pattullo Bridge Replacement, and Upgrades to Existing Rail Infrastructure.

Comments

  1. “The charge will be set in a way that it can fund transit expansion without influencing housing prices.”
    Do you believe in magic …
    Memo to self: ‘Don’t be silly, money grows on trees’.
    Let’s ask Derek Corrigan if he’s super excited to be on the SkyTrain all the way to Arbutus. He could take Cathy too and they could take their bikes and then zip down to Marine Drive in a flash. Yay comrade!

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