Press Release
Consultation on the funding of public transit in the MMC: the Board of Trade presents
a realistic financial plan to improve travel in the city
Montréal, May 10, 2012 – As part of the public consultation on the funding of public transit, the Board of Trade of Metropolitan Montréal last night presented its recommendations to the Montreal Metropolitan Community (MMC) Transportation Commission. The President and CEO of the Board of Trade, Mr. Michel Leblanc, reiterated the importance of public transit for the city’s economic development.
“The projects identified by public transit organizations covering the MMC total $22.9 billion, an amount required by 2020. We feel this timeframe is too short, taking into account our city’s ability to pay, and given the fact that we will not be able to start all of the projects within the next eight years. We therefore proceeded with a scheduling of the projects that will cost a total of $14.4 billion, and we propose a four-point revenue model in order to finance them,” stated Michel Leblanc.
“Before being in a position to develop new means of public transit, we must ensure the maintenance of existing infrastructures. We are therefore making asset maintenance a top priority, which represents a base investment of $10.3 billion by 2020. We would also like to see two projects already underway completed as soon as possible, the Train de l’Est and the Pie-IX RBS, adding another $1 billion. Finally, we believe that in this first stage, it will be possible to extend the metro’s blue line and to add two stations on the orange line at an estimated cost of $1.6 billion, in addition to adding $1.5 billion for the construction of a LRT system on the future Champlain Bridge,” added Michel Leblanc.
“To fund all of these projects over the next eight years, the Board of Trade is proposing a four-point revenue model: a rebalancing of the Fonds des réseaux de transport terrestre (FORT, Land Transportation Network Fund) with 30% going to public transit, an increase in contributions from the Green Fund thanks to the carbon market, a progressive 5-cent increase on the gas tax through the metropolitan territory, and the general implementation of a $75 license fee, as it currently applies in the Greater Montréal region,” continued Michel Leblanc.
“We are not rejecting the offer’s other development projects. However, a realistic review requires a process of prioritization and infrastructure development that is carried out in stages. There is no point in simultaneously starting a number of projects that we will have trouble funding and completing within a set time frame,” concluded Michel Leblanc.
To read the brief, click here (in French only).
About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal is made up of some 7,000 members. Its mission is to represent the interests of the business community of Greater Montréal and to provide individuals, merchants, and local businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity, and competitiveness. The Board of Trade is Quebec's leading private economic development organization.
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Source:
Karine Abdel
Interim Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Phone: 514 871-4000, extension 4015
kabdel@ccmm.qc.ca
Facebook: www.facebook.com/chambremontreal
Twitter: @chambremontreal
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