Ontario proposes new way of funding GO Transit stations, spurring nearby development
Posted September 25, 2023 9:09 pm.
Ontario’s minister of infrastructure is proposing a new way of funding GO Transit stations that she says will both increase transit service and housing nearby.
Kinga Surma says legislation she introduced today would let municipalities fund the design and construction of new GO stations.
Municipalities could then recover the costs over time by levying a Station Contribution Fee on development that gets built around the station.
The fee would be a voluntary tool for municipalities and they would apply to the province to use it.
The government says they would need to show a reduction in development costs to help offset the fee for developers, such as reduced parking requirements or faster approvals.
The legislation would also allow the Toronto Transit Commission to enter into cross-boundary service agreements with neighbouring transit agencies.
