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New funding deal between city of Toronto, province of Ontario to cover 2 highways, Ontario Place

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Toronto officials have reached a deal with the province, to help address the city's funding shortfall. As part of the agreement, Toronto will no longer have to pay for costs related to two of its busiest highways: the Gardiner Expressway and the Don Valley Parkway.

The transfer of responsibilities would take place at the end of 2024, taking $2 to $6 billion off the city's capital budget.

But that is just one part of this major deal. While the city seems to come out the clear winner, Ontario's Ford government is walking away with a crown jewel — a concession of sorts on Ontario Place. It means the province will finally be able to push through the controversial redevelopment, despite the city's protests.

Global's Colin D'Mello has the details.

For more info, please go to https://globalnews.ca/news/10116918/ontario-toronto-new-deal-doug-ford-olivia-chow/

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Category
News and politics
Tags
global news, Olivia Chow, olivia chow

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