Surrey commits $24.5 million towards LRT construction cost
[quote]Last night, Surrey City Council approved a contribution measure of $24.5 million to help fund the Surrey Newton-Guildford Light Rail Transit (SNG LRT) project.
This is, of course, a drop in the bucket of the total estimated $1.65-billion project for the 10.5-km-long, 11-station, street-level train system running on 104 Avenue and King George Boulevard between Guildford Town Centre and Newton Exchange.
As well, much of the contribution is cashless value in-kind through the provision of the use of city-owned lands needed to build the system.
This includes supplying the
city-owned lands in Newton Town Centre to allow for the
realignment of 137 Street and a city property on 144 Street for the use as the site of an
LRT power substation.
The municipal government is also committing to the acquisition of
lands along Central Avenue to build a new street between City Park Way and King George Boulevard.
Property-related costs total over $22.3 million while road construction on Central Avenue will cost $1 million and other direct municipal costs are pegged at $1.2 million.
http://dailyhive.com/vancouver/surrey-lrt-funding-contribution
http://dailyhive.com/vancouver/surrey-lrt-funding-contribution
http://dailyhive.com/vancouver/surrey-lrt-funding-contribution