LRT commitments ignore future operating debts
The proposed operating cost of Surrey LRT is approximately 40% of the cost to provide the South of Fraser’s existing bus network.
Funding still missing for LRT operating costs
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 […]
Surrey Light Rail “Plan B” doesn’t work
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 […]
A P3 doesn’t work for LRT in Surrey
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 […]
LRT study ignores transportation outcome
We refuse to acknowledge the results of Surrey’s LRT study as an acceptable case for proposed light rail in Surrey.
Contradicting business case for Surrey LRT
IMMEDIATE RELEASE – October 31, 2014 – Surrey, BC A TransLink study has already found a negative transportation business case for LRT, which will contradict any future “P3 business case” for federal project funding. The Surrey Rapid Transit Study, conducted over the past few years, found that the LRT project has a transportation cost-benefit shortfall of […]