Frightened private investors derailing BC transit projects
"If we're relying on private money, this is not the time to do it" — Port Moody mayor.
VANCOUVER, January 7, 2009 — Port Moody Mayor Joe Trasolini said Tuesday he was worried the Evergreen rapid transit line could be postponed yet again because private-sector funding is hard to come by in a sagging economy.
The $1.4-billion line, along with other SkyTrain extensions to Surrey and the University of BC, is among future transit projects that are supposed to be partly funded by TransLink's new real estate division and through public-private partnerships.
"We're all getting a little bit scared out here," Trasolini said. "Do we have the money to build the Evergreen Line? If we're relying on private money, this is not the time to do it."
Rapid transit to the northeast corner of Metro Vancouver has been delayed many times over the years, most recently when the Canada Line to Richmond became the provincial government's top priority.
Economists agreed the tight economy is keeping some developers away from such projects. . .
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Links and sources
Evergreen Line delay feared, by Kelly Sinoski, Vancouver Sun, January 7 2009
Posted: January 14, 2009
Voices of privatization
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