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Vancouver Rail Transit Project Details Finalized

Posted by: Abhijeet Chavan
Thanks to: Craig Townsend
7 August 2005 - 1:00pm

A public-private financing deal has been finalized for Vancouver's Richmond-Airport-Vancouver transit system.

"The final tally of capital investment in the line shows the federal government is contributing about $419 million, the B.C. government $235 million, TransLink $245 million, the Vancouver International Airport Authority $321 million and the City of Vancouver -- which is paying for an extra station it wants built -- $27 million, for total public investment of $1.247 billion.InTransitBC is investing $657 million, for a total of $1.9 billion."

Full Story: Final RAV deal up by $180 million
Source: The Vancouver Sun, August 3, 2005
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Even if the report overestimates the costs by a factor of two and underestimates the tax-benefit by a similar amount, the conclusion would be pretty much the same: destination resorts cost local government and taxpayers money.
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