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In accordance with the aforementioned instructions from the province and the City, this document must serve as an “interim agreement” between the parties, defining the principles and responsibilities of the province and the city in implementing the following major transit initiatives in Toronto, subject to the terms of this preliminary agreement: Ontario Line is one of four priority transit projects announced by the province for Greater Toronto and Hamilton in 2019. Planning for the four metro projects is underway and public procurement for the metro program is in place to ensure that each project is successfully implemented. The agreement formalizes a series of conditions adopted by the City Council on October 29, 2019. According to an Ontario press release, this is “the next step toward building the largest subway extension in Canadian history.” These are multi-billion euro investments in transit initiatives over the next 20 years and require the two governments to cooperate to expand transit to Toronto. The agreement focuses on how the two governments will provide: “This agreement is the basis of our partnership and is another important step forward in establishing a transit system for the 21st century faster for the people of the GTA,” Transport Minister Caroline Mulroney said in a statement released Friday morning. Premier Ford and the City of Toronto share the commitment and responsibility to quickly and efficiently build transit infrastructure to keep people moving, stimulate business investment and job creation, and improve the environment. The agreement will focus on billions of investments in transit initiatives over the next 20 years. Chris Murray, City of Toronto Director, Michael Lindsay, Special Advisor to the Province for the Cabinet – Transit Upload and Ontario Deputy Transport Minister Shelley Tapp signed the agreement on behalf of each government. Mayor John Tory said the province`s approximately $11.2 billion invested in the city`s transit system will allow the city to spend billions on various government repair initiatives for the existing transit system, including the purchase of hundreds of new trams, buses and subway trains.

“Prime Minister Ford and the City of Toronto share the commitment and responsibility to quickly and efficiently build transit infrastructure to keep people moving, stimulate business investment and create jobs, and improve the environment,” Transportation Minister Caroline Mulroney said in a statement. The agreement was already approved by the city council in October, but was not officially signed until today. This interim agreement and the additional documents in question will form the basis for additional agreements that will be negotiated in the future between the province and the city with respect to the partnership. Toronto`s 2020 budget will be presented next week to City Council for final approval, which Tory says includes the largest investment to modernize The existing transit system in Toronto`s history. As part of the plan, the city will re-release its share of the funds allocated to these projects to modernize its existing transit infrastructure or use the money to support other projects. The proposal also distributes nearly $3.8 billion in federal infrastructure funds that Toronto has already received. A city staff report indicates that $660 million of funding would support the Line 2 project, while City will also provide US$3.16 billion to the Ontario Line. “Through this partnership, we are investing in historic investments in Ontario`s transportation system with the new Ontario Line and three subway extensions— the largest subway extension in Canadian history.” The basic principles/parameters and conditions underlying the partnership were originally defined in two letters that the province sent to the city on October 9 and 10, 2019.