A month after voting to remain committed to Phase Two of the 10-year transit plan, an unpopular option to pay for the projects appears to be back on the table.
The transit plan is still short 15 per cent of the funding it needs, and with the federal and provincial governments having already pledged $2.2 billion, the Mayors’ Council on Regional Transportation wants the province to give them the all-clear to find other means by March.
Council chair Derek Corrigan said he doesn’t want to see property taxes raised, but at this late stage, the option cannot be taken off the table.
“Well, obviously I don’t want property taxes,” he said.
“I think that the three per cent per year we’re adding on to property taxes is a significant burden, and we have done everything we could in Phase One to put everything on the table that is available to us to begin these programs.”
Phase Two of the plan includes funding for a new Pattullo Bridge, Surrey LRT and the Broadway Subway, a tunneled extension of the Millennium Line SkyTrain along the Broadway Corridor.
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The mayors have gathered about 85 per cent of their funding share but a funding gap of $60 to $70 million a year remains.
Mayors hope to fill the gap by next month and approve a final Phase Two plan by July.
Other options include delaying Phase Two until next year.
WATCH: Aired Jan. 25, 2018: Metro Vancouver mayors have voted unanimously to move ahead with the region’s 10-year transit plan, and all of the major projects it includes. Ted Chernecki reports on why the vote was something of a surprise.
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