On Monday, January 26, Hamilton Mayor Fred Eisenberger and Premier Kathleen Wynne met and discussed funding for Hamilton’s rapid transit needs. The result was an announcement of full funding for the project.
Since 2008, the REALTORS® Association of Hamilton-Burlington has maintained a position in support of light rail. In the six years since, our position hasn’t wavered because, even in the early days, it has been apparent to the leadership that this is more than just a state of the art transportation system; it is an investment in the future.
We need to be forward-thinking in our plans for the future, and we believe that light rail is one of the best ways to achieve many of the city’s goals. These include continued revitalization of the downtown core, intensification along main corridors, further economic development and a broadening of the tax base.
The Rapid Ready report provides positive numbers, with the following financial benefits from LRT:
- Reduction of scheduled and unscheduled backlog capital works in the order of approximately $79 million.
- Tax benefit from new development by LRT estimated at $22.4 million.
- Potential for 6,000 construction jobs (provincial); 3,500 directly in Hamilton.
- Potential for 1,000 permanent jobs (provincial); 300 jobs in Hamilton to deliver regular operations and maintenance.
- B-Line LRT investment may result in an estimated increase of more than $443 million in Ontario’s GDP.
With the funding commitment from the Province, it is now the City’s turn to solidify its buy-in. If you support this project, please let your councillor know: http://www.hamilton.ca/YourElectedOfficials/WardCouncillors/