UDI Congratulates Mayors’ Council on New Transit Investments
UDI Congratulates Mayors’ Council on New Transit Investments
The Urban Development Institute (UDI) applauds today’s Mayors’ Council’s funding announcement for the first phase of the 10-year Transportation and Transit Plan.
“This is an important day for the future of our region. With over a million people moving to Metro Vancouver by 2040, we need these infrastructure investments now. We are pleased that the Mayors have taken this first step in improving the transportation network.”
Anne McMullin, UDI President and CEO
Infrastructure investments can be leveraged by integrating with local land use plans, McMullin added:
“We are also calling on local governments, Metro Vancouver, TransLink and the Province to ensure that appropriate density increases for housing and job spaces are in place – especially near our current transit network and future lines.”
A portion of the regional funding approved today will come from a regional fee on new development starting from 2020. The real estate industry has agreed that development should pay its fair share of the costs of new infrastructure demands that growth generates. However, it is critically important that the industry be fully consulted on the amount of the new fee, what projects will be charged, and how it will be implemented.
The Mayors’ Council is reviewing several types of development charges. We suggest a funding approach that:
- Is focused on areas near TransLink infrastructure (especially mass transit stations); Has a clear and transparent fee structure; and
- Has a clear and transparent fee structure; and
- Is offset by increases in density.
“This approach ensures we fully leverage our infrastructure investments. TransLink would receive revenues from the development fees, and increased ridership will strengthen the system as more people will be living and working near mass transit.”
As a member of the Better Transit and Transportation Coalition, UDI looks forward to working with Governments and other stakeholders on strategic infrastructure planning.
Anne McMullin is available for media interviews. Contact UDI Communications Manager Gavin Duffus at gduffus@udi.org or 604-661-3033
