John Tory welcomes an agreement between the city and province to share $7-billion in transit costs.
The mayor says it’s a ”key step to introducing SmartTrack.”
The province proposes paying $3.7-billion for infrastructure for SmartTrack while the city will pick up $3.3-billin for six new SmartTrack stations and the Eglinton West Light Rail Transit.
A statement reveals the city’s prepared to raise property taxes by at least 2.1%.
When he ran for mayor, Tory promised he would not hike property taxes to pay for his transit plan.
City council still has to approve the plan and councillors Janet Davis and Gord Perks are among those expressing concern.
Davis says there’s no real financing mechanism in the plan, while Perks says it’s much less at a much higher price, adding what the mayor calls SmartTrack is not what the plan’s proposing.
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