TORONTO (March 24, 2014) – Mayoral candidate Karen Stintz announced her funding plan for the Toronto Relief Line (TRL) this morning during a press conference.
Karen Stintz’s plan would unlock the value in City assets like Toronto Hydro, now worth over $1.14-billion, to build new infrastructure. With this funding model Toronto would be able to raise a significant chunk of the City’s one-third contribution to get the Relief Line built.
“We need to get Toronto moving – for our economy, and for our quality of life. Toronto has been talking about the Relief Line since 1985, and in the nearly 30 years since it was first proposed, City Councils have debated it, but it didn’t get done. I am all about getting things done, and I think we can all agree that transit is a priority,” Karen said.
“As things stand, there is a tax barrier that makes selling more than 10 per-cent of Toronto Hydro challenging. I believe we need to modernize this framework, and that begins with selling a majority of Toronto Hydro and use the revenue raised to invest in phase one of the Relief Line. As Mayor, I will work with the provincial government to make this possibility a reality,” she said. Stintz said Toronto needs to face these issues head on, with vision, leadership and a collaborative approach, while being honest with taxpayers.
“We can’t slide through this election with vague talk about ‘efficiencies ’. Yes, we need to be efficient, but the reality is we also need money to fund the transit we so desperately need. Some of my opponents – like Olivia Chow – don’t think the Relief Line should be a priority, and I couldn’t disagree more.
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