$1.49 Billion in Federal Funding Expected in Transit Funding for Ontario
Five Ontario cities will be among the first to receive $688 million in public transit funding for projects that have been approved. The funds are part of a $1.49 billion pot provided by the federal treasury that was announced by the Prime Minister on Tuesday, August 23rd. Toronto will receive the greatest portion of funding, with an allocation of $500 million, followed by Ottawa with $156 million. Another $30.6 million will be shared by Waterloo, Barrie, and Sudbury to fund 20 projects.
The funding can be used to cover up to half of the total cost of an eligible project, including:
- New buses
- Accessibility upgrades to stations
- Track upgrades
Funds can also be applied to costs that were already incurred by cities and provinces, dating back to April 1, 2016. The investment is expected to make public transit more efficient, including shortened commute times.
Premier Kathleen Wynne said that Ontario is still working to finalize an agreement for another phase of transit funding with the federal government.