Yesterday, BILD President and CEO Bryan Tuckey and BILD Chair Steve Upton attended the Toronto Region Board of Trade’s announcement of its funding recommendations for Metrolinx’s The Big Move.
“It is time to get moving and invest in the execution of Metrolinx’s regional transportation plan because this is critical infrastructure that is needed for the long-term prosperity of the GTA,” said Tuckey.
Out of possible funding mechanisms, the Board of Trade threw its support behind four revenue tools dedicated to transit: a regional sales tax, a regional fuel tax, high-occupancy toll lanes and a non-residential parking levy.
Two of those tools—a sales tax without a cap and the non-residential parking levy—have a direct impact on the GTA’s new homeowners and the affordability of new housing and commercial spaces in the region.
“The land development and home building industry is doing its part to support the development of essential public infrastructure,” said Bryan Tuckey, President and CEO of the Building Industry and Land Development Association (BILD).
“Last year alone, the industry and new homebuyers across the GTA contributed in excess of $1 billion for the construction of growth-related infrastructure, such as roads, water, sewers and services, through development charges paid to municipalities.”
However, on this we can agree: investment in transit infrastructure across the GTA is needed now and it should be targeted to support jobs and economic development. BILD supports Metrolinx’s regional transportation plan, The Big Move, and we are partners in making it happen.
By June, Metrolinx has to deliver an investment strategy for its 25-year and estimated $50-billion plan to the provincial government outlining funding tools that will generate stable revenue.