At the recent GVRD board meeting (Mar. 15 – Agenda), TransLink had the propert-tax rescinded as a source of funding thereby removing about $30 million dollars according to Bob Paddon, executive vice-president at TransLink.
Paddon said TransLink will be able to use reserve funds and efficiencies to make up the loss.
“It does mean though, we will not be expanding on anything,” said Paddon. “What we’ve committed to in this plan is all we can deliver.”
The plan Paddon refers to is of course TransLink’s 2013 Base Plan and Outlook Final report, which looks at the transit authority’s plan over the next couple of years.
If Paddon’s comments are true then all Metro Vancouverites have to look forward to regarding transportation initiatives are:
- Evergreen Line (TransLink’s contribution)
- 109,000 bus annual service hours
- Upgrades to 7 SkyTrain stations
- To continue to fund operations, maintenance and rehabilitation of the major road network.
- Maintain basic funding to municipal road and bicycle projects, at a lower level than committed to in the 2012 Moving Forward Plan.
- Continue to operate and maintain its bridges and continue discussion on the future of the Pattullo Bridge.
(The Patullo is definitely something to talk about, though it wouldn’t be surprising if the word toll comes about).
TransLink is in need of a viable long-term source of funding. Without it, it is difficult to see Surrey’s billion-dollar LRT dreams turn to reality (or Vancouver’s).
Efficiencies like the tightening of schedules, reduction in SkyTrain runs and an increase in parking rate fees (See page 8 of the 2013 Base Plan and Outlook Final report) are purely speculative saves and gains.
It isn’t certain TransLink will recoup the $41 million it states.
TransLink states it will face a $472 million shortfall for 2013-2015. The anticipated loss from transit fare revenue alone makes up $108 million of that $472 m. total.
But this is all speculation.
Paddon stated, in reference to the rescinding of the property-tax, that no expansion will be occurring.
Whether a veiled jab or not, this is how politics is played: thou taketh so thou shall not receive. This means no new projects like the LRT or the UBC subway until funding is sorted out.
But who pays in the end? Taxpayers, because we still need to use transit while everything gets sorted, and this means more out of our pockets directly through fare and fee increases.
What’s certain is that a new long-term funding model is required.
Surrey BC'er 