McGuinty Announces Additional Funding For TTC
TORONTO -- The McGuinty government is underlining its commitment to building strong communities by providing the City of Toronto with a further $90 million to strengthen the TTC.
"Our government believes you can only have a strong Ontario if you have a strong Toronto. And you can only have a strong Toronto if you have a strong TTC," Premier Dalton McGuinty said.
The $90 million is available immediately and is in addition to the five-year $1 billion federal-provincial-municipal TTC funding agreement announced yesterday, and the more than $126 million in provincial investments in Toronto Transit Commission safety and capital improvements since last October.
Today's announcement includes a $25 million unconditional grant to the TTC -- that more than equals the revenue the TTC has anticipated from a possible 25-cent fare increase.
"As the province moves towards our commitment to providing a portion of the gas tax for public transit, this investment will make an immediate difference for the TTC," said Premier McGuinty. "Helping Toronto meet its unique financial challenges is one important way of improving the quality of life for Toronto residents and revitalizing the economic engine of Ontario. Today, we are targeting our scarce resources where they are needed and where they will make the biggest difference."
"My government looks forward to working with the Mayor and Toronto City Council on a continuing basis to ensure that this city not only survives, but thrives," said the Premier. "It's an approach that's typical of the new, cooperative relationship between the Province and our municipalities. We are committed to working to give municipalities the tools they need to better serve the distinct needs of their people and communities."