Money for schools, money for roads and now money for transit.
The provincial Liberal funding bonanza continued March 31, and featured a multi-billion dollar pledge for rapid transit improvements in Vancouver and Surrey.
Minister responsible for TransLink Peter Fassbender announced $2.2 billion in matching funds to coincide with federal government’s funding promise made as part of last week’s budget announcement.
The money is meant to help phase two of TransLink’s 10-year vision, which includes extending the Millennium Line from its current endpoint at VCC further west to Arbutus Street. Phase one of the plan included provisions for a subway system along the Broadway corridor.
The province’s $2.2 billion matches the same amount pledged by the federal government as part of last week’s budget announcement.
“With the Trudeau government’s commitment, we are very pleased to announce today that we are matching dollar-for-dollar the federal government’s 11-year commitment of up to $2.2-billion investment in new projects, including our commitments to new rapid transit projects in Surrey and Vancouver,” Fassbender said in a statement.
Both phases of the plan are expected to cost $5.5 billion. The province and feds have committed to 80 per cent of that funding, while the remainder must be paid by Metro Vancouver municipalities.
Friday’s announcement comes on the heels of a $24-million cash injection announced Wednesday to replace Maple Grove elementary in Kerrisdale.
