The LTC will have some extra cash to put towards public transit this year.
The corporate services committee reported Tuesday London will see a seven per cent increase in gas tax funding this year, with $9.9 million coming to the city.
The gas tax program provides municipalities with two cents per litre of provincial gas tax revenues.
“This is a significant dollar amount that is contributed to our community,” said Mayor Matt Brown.
All of the money London receives goes to the LTC. Gas tax funding from the province was made permanent in 2013.
60 per cent of the money will go towards operating costs while 40 per cent will be directed to capital costs such as purchasing new buses.
The money London receives in the future is set to rise dramatically.
“We all know that’s going to be increased to approximately $20 million by 2022. It goes a long way for us to introduce the kind of transit that we need to provide for our community,” said Brown.
Queen’s Park has committed to increasing funding to 2.5 cents per litre in 2019-20, 3 cents per litre in 2020-21 and 4 cents per litre by 2021-22.
City staff say one bus takes up to 40 vehicles off the road and keeps 25 tonnes of greenhouse gas emissions out of the atmosphere each year.