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The partnerships are viable. SmartTrack fits in with the Wynne government’s regional express rail plans, and I can get the federal support we will need in Ottawa.
The financial plan is solid. I’ve called for the province to pay for one-third and the federal government another third of the cost. For the city’s one-third, I’ve called on Toronto and the regional municipalities where SmartTrack runs to share the load fairly.
The Sheppard Line or Line 4 is the most recently built subway line of the Toronto subway and RT, operated by the Toronto Transit Commission. It has five stations and is 5.5 kilometres (3.4 mi) long.
The Sheppard line has spurred over $1 billion of construction of new housing, including several high-rise condominium towers, along its route as transit-oriented developments. Particularly noteworthy are the condominiums around Bayview Station, where none had previously existed prior to the 2000s. In addition, between Leslie and Bessarion stations, a former Canadian Tire warehouse/distribution centre next to Highway 401 (the chain retains a store nearby, along with Mark's Work Wearhouse, also owned by Canadian Tire) was demolished and the land was being sold to Concord Adex Investments Limited of Vancouver. Construction on the first phase is well underway to develop the area into a large multi-condo complex, Concord Park Place, which includes a community park. There is also development around Swedish furniture chain IKEA in the immediate area; IKEA also runs a complimentary shuttle bus between the store and Leslie station.
The Daniels Building Company has built a six-tower development, called NY Towers, north of the 401 between Bayview and Bessarion; Arc Condominiums on the northeast corner of Bayview/Sheppard; and terraced condos just east of their NY Towers. Shane Baghai has also built a multi-tower development in the area.
Accordingly, the three governments have spent, to date, $1.26 billion and the study estimates that this direct investment on public lands generated impacts as follows: $3.2 billion of Canadian economic output, 16,200 full time years of employment and $622 million of tax revenues to government ($348 million to federal, $237 million to provincial, and $36 million to municipal).
The cities can finance their payment through tax increment financing. This is a funding tool in widespread use in 47 of 50 U.S. states, and which has been legislated in Ontario for projects just like SmartTrack.
Problem is that (they) keep having elections and keep putting people in power to keep ripping us off .May as well let Rob run the show , at least he was entertaining . a reply to: ipsedixit
There is a growing groundswell of opinion in municipalities across this country, that enough is enough. We are tired of being ripped off by provincial governments and the federal government.
Building Prosperity traced the roots of these growing problems to a tax system that took too much out of communities and put too little back in. The result was a structural imbalance between local governments’ growing responsibilities, and the inadequate financial resources they received from an out-of-date funding system.
Municipalities were collecting just eight cents of every tax dollar paid in Canada. Meanwhile they were building more than one-half of the country’s core infrastructure; paying the salaries of two out of every three police officers; and funding responsibilities offloaded by other governments for affordable housing, immigrant settlement and public safety. At the same time, federal and provincial governments were consuming more than 90% of the taxes paid by Canadians, and, through their sales, income, and corporate taxes, virtually all revenues generated by new economic growth. What they reinvested in municipal infrastructure was typically delivered through short-term, ad-hoc programs that made it difficult for municipalities to budget effectively.
Unlike many of their international counterparts, local governments in Canada were left to rely on the slow-growing municipal property tax, a regressive funding tool that hits middle-and low-income people hardest, including working families, senior citizens, and small-business owners.
In the left foreground, top al Qaeda terrorist leader Ibrahim al-Badri (aka Al-Baghdadi of ISIS, aka Caliph Ibrahim of the recently founded Islamic Empire) with whom the Senator is talking.