Feds Announce Details of Public Transit Fund and Commits Funding for Toronto
(firmenpresse) - OTTAWA, ONTARIO -- (Marketwired) -- 06/18/15 -- The Canadian Urban Transit Association (CUTA) welcomes the announcement of program parameters for the Federal Government's new Public Transit Fund (PTF), which will provide ongoing support for major infrastructure projects across Canada.
The announcement, made by Prime Minister Stephen Harper and Finance Minister Joe Oliver in Toronto, will help build major transit infrastructure across Canada for the foreseeable future.
The federal government has ensured that it will be an equal-funding partner in major transit projects by committing itself to a federal contribution limit of 33 per cent for the PTF. Also announced was a subsequent increase in the contribution limit to the P3 Canada Fund from 25 per cent to 33 per cent.
The one-third model of infrastructure investment, which sees equal cost-share from federal, provincial and municipal governments, has been a framework that CUTA has advocated for publicly and in consultation with government.
The government also announced $2.6 billion in funding for Toronto's SmartTrack Regional Rail Express Line, conditional on the project's application approval.
"The new Public Transit Fund has the potential to create legacy transit infrastructure in Canadian cities. We look forward to continuing to advise and provide information to the government about Canada's growing transit industry as this new fund takes effect," said Patrick Leclerc, President and CEO of CUTA.
As the PTF will be administered by P3 Canada, projects receiving funding will include private sector involvement, through private sector financing and alternative funding mechanisms.
The PTF will fund projects with an estimated cost of over $1 billion based on merit. CUTA is hopeful that small and medium sized transit projects will now receive increased funding through the New Building Canada Fund as major transit projects will be applying for funding through the PTF.
About CUTA
CUTA is the collective and influential voice of public transportation in Canada, dedicated to being at the centre of urban mobility issues with all orders of government, and delivering the highest value to its members and the communities they serve. CUTA is the national association representing public transit systems, suppliers to the industry, government agencies, individuals and related organizations in Canada.
Contacts:
Erin Brophy
Manager, Marketing and Communications
613-804-0402
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 18.06.2015 - 20:25 Uhr
Sprache: Deutsch
News-ID 401640
Anzahl Zeichen: 0
contact information:
Town:
OTTAWA, ONTARIO
Kategorie:
Public Transportation
Diese Pressemitteilung wurde bisher 199 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Feds Announce Details of Public Transit Fund and Commits Funding for Toronto"
steht unter der journalistisch-redaktionellen Verantwortung von
Canadian Urban Transit Association (CUTA) (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
