Mayor Rob Ford will outline his plan this afternoon on how to fulfill his election promise of a new Sheppard subway.
CBC reported this morning that the city proposed a plan to the province’s Metrolix on how to fund the Sheppard subway line.
The Globe and Mail also has a story with details on how the private funding could work.
The mayor’s election platform on a Sheppard subway was costed at $3 billion for 10 new stops between Downview and Scarborough Town Centre. Part of the mayor’s new plan may include having the private sector pay for design and construction costs of the new subway and the city selling air rights to developers to build along new subway stops.
He’s holding a press scum at 1:15 at city hall. Usually these deals allow 3 questions of the mayor, but I will be there and report back after the announcement with as much detail as I can. I will be supplementing the article with info from other sources as well as from Mayor Ford.
Check back this afternoon for more…
Click here for update as promised.