Mayor Gregor Robertson is calling the federal government’s promise to provide $2.2 billion for transit investment in the region “a game changer” and a big step to getting a subway built along the Broadway corridor.
The mayor’s comment came after the federal government revealed its 2017-2018 budget Wednesday and committed to spend $20.1 billion over 11 years on transit across the country. The spending hinges on bilateral agreements with provinces and territories. The region’s share is $2.2 billion, which builds on $370 million committed to local transit projects in 2016.
“Today’s historic federal investment in transit and transportation is a game changer for our region and the largest in Metro Vancouver in 20 years,” said Robertson, the chairperson of the mayors’ council on regional transportation, in a statement Wednesday.
Robertson acknowledged mayors still had work to do to secure all the funding to get the subway and a light-rapid transit line built in Surrey. That work includes convincing the provincial government to match the federal government’s $2.2 billion contribution to fund the projects, which combined will cost more than $4 billion. The $2.2 billion would also be used for other major upgrades to the region's transit system.
If the province doesn’t match the funding amount, the mayors will be forced to find ways to raise up to 27 per cent of the cost. Funding sources haven’t been determined, but it could mean a hike in property taxes, road pricing, tolls or a combination.
The federal government’s budget did not provide any details about funding the replacement of the Pattullo Bridge, which links New Westminster and Surrey. The replacement is estimated to cost $1 billion.
The mayors’ council issued a news release Wednesday saying the funding could come through the federal Infrastructure Bank or Trade Transportation Corridor Initiative. The provincial government has committed to provide one-third of the cost.
“The mayors’ council and TransLink are reviewing new details about these programs and will work immediately with the federal and provincial governments to finalize their investments in this project,” the council’s release said.
Robertson said he was also encouraged by the Trudeau government’s commitment to spend $11.2 billion over the next 11 years on housing across the country and maintain operating agreements for co-op housing complexes. The government said the money will be spent “on a range of initiatives designed to build, renew and repair Canada’s stock of affordable housing and help to ensure that Canadians have adequate and affordable housing that meets their needs.”
The Carnegie Community Action Project said in a release that the spending will not be enough to eradicate homelessness in the region, where more than 4,000 people are in need of housing. Vancouver alone counted 1,847 homeless people in March 2016.
“If you divide the $11.2 billion over 11 years, it boils down to only $1 billion a year to be spent across the whole country,” the anti-poverty advocacy group said. “If the $1 billion were all spent on building new social housing, it would be enough to build about 5,000 social housing units across the country. B.C. alone needs 10,000 units a year.”
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