Quote:
Originally Posted by TheHonestMaple
The comment section of that article is embarrassing lol. The number of people screaming that it will be a tax burden, when the damn article is about how the LRT will attract numerous high rise condo towers and businesses along the route - which would be a massive tax revenue gain.
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It's one of the big benefits of the upper levels of government funding the capital works. It's the entire way things should operate. LRT funded by the province and federal government, with the tax revenue gains more than covering the operations and maintenance costs.
The Eastgate development mentioned elsewhere for example will likely gain the city $10m in property taxes alone, and would never happen without the LRT. The LRT operations are expected to cap out at $40m so theoretically the net gain of a few developments alone will cover the cost, and the some which is the point.
Not to mention the city getting 14km of brand new utilities, roads, sidewalks, tactile crosswalks, street lights, signage, paint, jobs, all paid for by upper levels of government. LRT is the biggest bailout for the city in the last 100 years and people are worried about 5 years of construction hassle and the misplaced fears regarding it's costs.