So we fall over ourselves to come up with tens of millions of dollars to pour into an oversized stadium that will be used ten times a year by a sports team that's barely viable - but a $130 million investment in a transformative rapid transit system is suddenly out of the question?
"If we have to put in a sizeable contribution, forget it," said [Ancaster Councillor Lloyd] Ferguson, though he said the operating costs were lower than running a bus.
According to City finance manager Rob Rossini, "this excludes any revenue growth from increases in additional property assessment due to the economic benefits of LRT and the transformational, city-building impacts it could have."
Light Rail Transit generates wealth by parlaying urban efficiencies more effectively. It provides an anchor for new dense, mixed use developments that increase population density, improve infrastructure productivity and boost the rate of innovation.
It helps create an environment friendly to the kinds of new, high-growth companies that will produce tomorrow's jobs and generate tomorrow's wealth.
It's not "drinking the Kool-Aid", as Councillor Brad Clark puts it, to make an investment that is both visionary and strongly grounded in empirical evidence. The most delusional thing we can do is stay rooted in the underperforming status quo.
You must be logged in to comment.