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Tax hike should cover Spadina subway extension

As expected, the Spadina subway extension is late and over budget - business as usual in the amalgamated Toronto.
Here's what we learned from Toronto's fearless press:
The TTC’s unfinished Spadina subway extension from Downsview Station through York University and up into Vaughan is about $400 million over budget, the Star has learned. Sources say the 8.6-kilometre, six-stop addition — which was originally expected to cost $1.5 billion and later ballooned to $2.5 billion — is now “hundreds of millions” more expensive. Announced in the March 2006, the subway was supposed to open by this fall. Now 2017 appears more likely. Mayor John Tory’s office would not confirm the $400 million. “But the impact of a project of this scope would obviously be significant,” said his spokeswoman, Amanda Galbraith. The final tally will depend on how quickly the TTC and the city want the project done, said TTC board chair Josh Colle, councillor for Eglinton—Lawrence. “How aggressive do we want to be to get this back on track,” he said. Toronto and York Region would be on the hook for those additional costs. But given the longstanding, extensive issues with the project it wouldn’t be unreasonable for Ottawa and Queen’s Park to chip in a commensurate amount, said Colle.
Meanwhile, the City Council approved a 2.75% tax hike.

Sources / More info: Spadina subway extension $400M over budget | Toronto Star
[tags]toronto, taxation, budget[/tags]
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