Gateway Transportation Investments
The scale of investment needed for
Gateway infrastructure is in the tens of billions of dollars over the short and
medium terms. Nevertheless, these investments must be made to handle projected growth
and improve the competitiveness of Canada’s international trade and tourism industries
and industrial productivity. Additionally, major investments are needed in public
transit.
Infrastructure
and Transit
The Gateway Council believes that
investments in transportation infrastructure and public transit must go hand in
hand to realize our vision. Infrastructure investments are essential to accommodate
growth in Gateway transportation on which the Region’s economy depends, while transit
investments are necessary to curb growth in the numbers of automobiles on the road
as the Region’s population expands. Both are needed to reduce road congestion and
fuel consumption and cut emissions.
Where will the Money
Come From?
The Gateway Council proposes a number
of approaches to raise the necessary capital based on successful experiences elsewhere,
including:
Agency Investments
The Federal and Provincial Governments, TransLink and the Members of the Greater
Vancouver Gateway Council have recognized and agreed upon the need for a comprehensive
infrastructure investment program for this Gateway. Our Airport, Sea Ports, Railways
and Terminal Operators have committed hundreds of millions of dollars toward capacity
expansions and are prepared to make additional investments in infrastructure to
meet projected growth.
It is essential that both levels of
Senior Government also recognize the need for and commit to a long-term funding
program to ensure that this Gateway will be able to meet the growing demands as
Canada’s Gateway to the Asia Pacific.
Tax Exempt Bond Financing
Tax exempt bond financing is used successfully in the US for transportation infrastructure
financing. It provides access to new pools of private capital and can be achieved
in Canada by minor changes to the Tax Act.
Public Private Partnerships
(P3’s)
The Gateway Council endorses the use of P3’s wherever reasonable and feasible, such
as those employed for the Canada Line rapid transit route and the Golden Ears Bridge.
Tolling
The Gateway Council is supportive of tolling and TDM measures where the additional
costs to commercial carriers are offset by travel time savings.
Managing Demand
Consistent with the Gateway Council’s
view that “we cannot build our way out of congestion,” the Council believes that
the proposed MCTS infrastructure investments can meet the Region’s future transportation
needs, when coupled with a number of aggressive demand management measures and tolling
such as:
Discouraging Single
Occupancy Vehicle use
Providing High Occupancy Vehicle (HOV) lanes
Prohibiting Parking on MCTS routes
Critical Incident Management
Residential and Commercial densification along rapid transit lines
Industrial land reserves
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