smasher000
Mar 20, 2007, 7:27 PM
http://www.canada.com/vancouversun/news/story.html?id=27119553-c054-4b0d-a081-020895b63582&p=2
Transportation money available
TransLink appears to be a step closer to the sustained funding it's been looking for, official says
William Boei, Vancouver Sun
Published: Tuesday, March 20, 2007
Billions of federal dollars are up for grabs for B.C. transportation infrastructure projects, thanks to Monday's federal budget.
Finance Minister Jim Flaherty said $16.5 billion in infrastructure money is available nationally over the next seven years, and some of the programs look to be tailor-made for B.C.'s needs.
Some of the money is specifically aimed at highway-building, transit projects, sewage treatment, public-private partnerships, trade gateways and border crossings, all items high on the wish lists of B.C.'s provincial, local and regional governments.
New transportation infrastructure funding was included in budget.
A big chunk of it goes to a four-year extension -- to 2014 -- of the federal government's Gas Tax Fund, which is ramping up to distribute $2 billion a year for transportation infrastructure across Canada.
If the B.C. government leaves the current fund-sharing formula for B.C.'s share of that money in place, Greater Vancouver's transportation authority, TransLink, will get $122.8 million a year or nearly $500 million over the four-year extension.
Combined with a proposed new provincial funding plan for TransLink, the federal budget "could represent a significant move forward toward satisfying Greater Vancouver's growing demand for better transit and roads," said Richmond Mayor Malcolm Brodie, chairman of TransLink.
Brodie said the budget means TransLink appears to be a step closer to the sustained transit funding it has been looking for.
Warren Gill, who heads Simon Fraser University's urban affairs program, said not all of the money is new. Several existing programs and previously announced plans have been wrapped together with new money to make an impressive-looking package.
But Gill said some of the new commitments will be useful for B.C. The Gas Tax Fund extension in particular was "terrific news. It gives some sense of surety. I think that's very important."
Flaherty also said the GST rebate that municipal governments get will be 100 per cent of the tax paid in future, up from 57.1 per cent now.
Budget documents say the Gas Tax Fund and the GST rebate together will provide "base funding" of $17.6 billion over seven years.
"This base funding will be significant, stable, predictable and long-term in nature, and thus will directly benefit municipalities," Flaherty said.
There is more. The budget sets up or expands four other programs with new money totalling $6 billion over seven years. All four are of interest to B.C.
[The numbers add up to more than $6 billion because existing funding is included.]
n An $8.8-billion Building Canada Fund will be distributed across the country on a per capita basis over seven years, for projects such as highway building, public transit and sewage treatment.
B.C. Transportation Minister Kevin Falcon is trying to get at least $3 billion in highway projects built in the near future, TransLink is looking for money to by more buses and build new rapid transit projects, and Victoria is embarking on a big sewage treatment project, with pressure on Greater Vancouver to follow suit.
A national fund for gateways and border crossings, worth $2.1 billion.
That plays directly into the B.C. government's economic strategy to beef up transportation infrastructure so as to become the major trade gateway between China and North America.
n An "enriched" Asia-Pacific Gateway and Corridor Initiative, with federal funding earmarked specifically for B.C. increasing from $591 million to $1 billion. The extra money will be used "to make additional infrastructure improvements at this important trade gateway, such as roads, highways, and road-rail grade separations."
Some of that money will probably land in Delta, where the province's new South Fraser Perimeter Highway will run cheek by jowl with railway tracks carrying coal trains west to Deltaport.
Previously announced funding includes $100 million for the Deltaport Connector section of the new highway, and $90 million for the Pitt River Bridge and Mary Hill Interchange.
n A new national fund for public-private partnerships, with $1.26 billion to be awarded "on a merit basis." It will contribute up to 25 per cent of the cost of projects.
The provincial government has been pushing hard for more public-private partnerships in key infrastructure projects. One of the leading candidates would be TransLink's Evergreen light rail line to Coquitlam, which is being reviewed for P3 suitability and is currently $400 million short of its estimated $1.9 billion capital cost.
Brodie said once the details are known, TransLink will be applying for its share of the new money.
Falcon wasn't available. His office said he planned to comment on the budget today.
Gill said that besides the Gas Tax Fund extension, "the commitment to infrastructure by this Building Canada Fund looks good on first blush. And this understanding that gateways and border crossings are important to a trading nation is, I think, also significant."
The budget also provides for each province and territory to get an additional $25 million per year for transportation infrastructure. At least some of this money would go to smaller municipalities.
Hmm.. does anyone think we'll get a new rapid transit line from this? :notacrook:
Transportation money available
TransLink appears to be a step closer to the sustained funding it's been looking for, official says
William Boei, Vancouver Sun
Published: Tuesday, March 20, 2007
Billions of federal dollars are up for grabs for B.C. transportation infrastructure projects, thanks to Monday's federal budget.
Finance Minister Jim Flaherty said $16.5 billion in infrastructure money is available nationally over the next seven years, and some of the programs look to be tailor-made for B.C.'s needs.
Some of the money is specifically aimed at highway-building, transit projects, sewage treatment, public-private partnerships, trade gateways and border crossings, all items high on the wish lists of B.C.'s provincial, local and regional governments.
New transportation infrastructure funding was included in budget.
A big chunk of it goes to a four-year extension -- to 2014 -- of the federal government's Gas Tax Fund, which is ramping up to distribute $2 billion a year for transportation infrastructure across Canada.
If the B.C. government leaves the current fund-sharing formula for B.C.'s share of that money in place, Greater Vancouver's transportation authority, TransLink, will get $122.8 million a year or nearly $500 million over the four-year extension.
Combined with a proposed new provincial funding plan for TransLink, the federal budget "could represent a significant move forward toward satisfying Greater Vancouver's growing demand for better transit and roads," said Richmond Mayor Malcolm Brodie, chairman of TransLink.
Brodie said the budget means TransLink appears to be a step closer to the sustained transit funding it has been looking for.
Warren Gill, who heads Simon Fraser University's urban affairs program, said not all of the money is new. Several existing programs and previously announced plans have been wrapped together with new money to make an impressive-looking package.
But Gill said some of the new commitments will be useful for B.C. The Gas Tax Fund extension in particular was "terrific news. It gives some sense of surety. I think that's very important."
Flaherty also said the GST rebate that municipal governments get will be 100 per cent of the tax paid in future, up from 57.1 per cent now.
Budget documents say the Gas Tax Fund and the GST rebate together will provide "base funding" of $17.6 billion over seven years.
"This base funding will be significant, stable, predictable and long-term in nature, and thus will directly benefit municipalities," Flaherty said.
There is more. The budget sets up or expands four other programs with new money totalling $6 billion over seven years. All four are of interest to B.C.
[The numbers add up to more than $6 billion because existing funding is included.]
n An $8.8-billion Building Canada Fund will be distributed across the country on a per capita basis over seven years, for projects such as highway building, public transit and sewage treatment.
B.C. Transportation Minister Kevin Falcon is trying to get at least $3 billion in highway projects built in the near future, TransLink is looking for money to by more buses and build new rapid transit projects, and Victoria is embarking on a big sewage treatment project, with pressure on Greater Vancouver to follow suit.
A national fund for gateways and border crossings, worth $2.1 billion.
That plays directly into the B.C. government's economic strategy to beef up transportation infrastructure so as to become the major trade gateway between China and North America.
n An "enriched" Asia-Pacific Gateway and Corridor Initiative, with federal funding earmarked specifically for B.C. increasing from $591 million to $1 billion. The extra money will be used "to make additional infrastructure improvements at this important trade gateway, such as roads, highways, and road-rail grade separations."
Some of that money will probably land in Delta, where the province's new South Fraser Perimeter Highway will run cheek by jowl with railway tracks carrying coal trains west to Deltaport.
Previously announced funding includes $100 million for the Deltaport Connector section of the new highway, and $90 million for the Pitt River Bridge and Mary Hill Interchange.
n A new national fund for public-private partnerships, with $1.26 billion to be awarded "on a merit basis." It will contribute up to 25 per cent of the cost of projects.
The provincial government has been pushing hard for more public-private partnerships in key infrastructure projects. One of the leading candidates would be TransLink's Evergreen light rail line to Coquitlam, which is being reviewed for P3 suitability and is currently $400 million short of its estimated $1.9 billion capital cost.
Brodie said once the details are known, TransLink will be applying for its share of the new money.
Falcon wasn't available. His office said he planned to comment on the budget today.
Gill said that besides the Gas Tax Fund extension, "the commitment to infrastructure by this Building Canada Fund looks good on first blush. And this understanding that gateways and border crossings are important to a trading nation is, I think, also significant."
The budget also provides for each province and territory to get an additional $25 million per year for transportation infrastructure. At least some of this money would go to smaller municipalities.
Hmm.. does anyone think we'll get a new rapid transit line from this? :notacrook: