Quote:
Originally Posted by J.OT13
But isn't the province investing the same billion now as is was initially? I can't get over the fact that we were just months away from opening the bids, seeing the true cost at the time, which would have been far cheaper than what it will be with significantly increased labour and material costs.
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The LRT would have cost the same regardless, the $1 billion cost was really the 2010 cost for it unescalated. No different than other LRT projects in the GTA with far higher contract prices than the original “funding budget”.
So what the province did is they went from having to pay for all of it no matter what, to getting a good cool $2 billion plus from the Feds for it. So the whole show managed to write $2 billion in debt off the provincial books basically.
I don’t think that was their initial intention, instead planning to cut it because Ford hates LRTs from his Toronto council days as a cheap way to save money (“we’ll still give a billion, but it’s a hard billion now, not a generous definition of it like before”) and build some bus lanes instead. Then of course their little commission came back and said the LRT should get built anyway, and the Feds said they’d fund the gap, and the transport minister had to be transported away from the cancellation announcement in a police escort from the blowback.. and the province realized they screwed up.
Hamilton’s incompetence is rewarding itself here in a way, by council being so unsure on the whole thing for years it’s taken forever to be built but as a result they are getting a free transit line basically while Ottawa and Kitchener had to pay and own their lines themselves.