IMMEDIATE RELEASE – Surrey, BC A community transit coalition is calling out the Conservatives and Liberals for dumping millions of dollars of operating debt from an LRT system onto the community with no consultation. SkyTrain for Surrey, a local coalition of transit users calling for an extension of SkyTrain over Light Rail Transit, has previously […]
IMMEDIATE RELEASE – September 29, 2015 – Surrey, BC Despite the recent commitments to capital funding for the proposed Surrey LRT system, there has been no discussion on how the system’s operating costs will be paid for after it opens. “Any funding commitment to building a transit project means nothing if we don’t know how we’re […]
IMMEDIATE RELEASE – Surrey, BC The City of Surrey has jeopardized its own “Plan B” for Light Rail Transit by neglecting to account for the financial effects of poor ridership and a fare revenue short-fall. A previous joint study commissioned by TransLink and the Province found that the proposed LRT will require an operating subsidy of […]
The Canada Line P3 was a successful P3 because its ridership and fare revenue exceeded projections. The private partner’s capital investment in the project is returned as a profit through the performance payments made during operation. If fare revenue from ridership meets or exceeds the costs, financing proceeds as planned and excess operating revenue is […]
