Toronto finally has funding for Waterfront East LRT, but city could be on the hook if project goes over budget | CBC News

"The $3 billion cost of the 3.8 kilometre line is being split three ways by all levels of government, it was announced in April."

"Details of the agreement released by the province state that Ontario and Ottawa won't pay for any cost overruns on the project."

"Coun. Josh Matlow expressed serious concerns about how this agreement has been put together, emphasizing that the transit expansion will benefit the whole region."

"The federal, provincial and municipal governments will each spend $1 billion, for a total of $3 billion, to fund the Waterfront East LRT."

Toronto has finalized a funding agreement with Queen's Park and Ottawa for the Waterfront East LRT, costing $3 billion. The funding is shared equally among federal, provincial, and municipal governments. However, the agreement stipulates that any cost overruns will be the responsibility of the City of Toronto. This raises concerns, especially given the city's existing financial burdens and past LRT projects that exceeded budgets significantly. The city aims to complete the line by the early 2030s, despite these financial risks.

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