WHEREAS local government expected to receive 102 million in federal funding for transit over two years under the Public Transit Agreement PTA; AND WHEREAS the PTA was reduced to a one-year agreement and funding was subsequently included in the Public Transit Trust: THEREFORE BE IT RESOLVED that the Province of British Columbia commit to transfer to UBCM a minimum of 52 million from the 119 million federal Public Transit Trust for equitable distribution to local transit systems.
Ministry of Community Services Contingent on a 200506 federal surplus in excess of 2 billion, the 2006 Federal budget provided for the establishment of a 900 million, one-time Public Transit Capital Trust PTCT. This initiative is to provide supplementary funding to provinces and territories for capital investments in public transit infrastructure that are intended to: reduce traffic congestion in urban areas, reduce carbon dioxide and other emission and make communities more liveable. On September 26, 2006, a Federal surplus of 13.2 billion was announced, confirming British Columbias Province maximum trust allocation of 119.3 million. The federal government has provided a set of operating principles intended to guide investments made under the PTCT. Work is currently underway to develop a range of options for the distribution and use of the Trust funds. The views expressed by the Union of British Columbia Municipalities will be taken under consideration as this work progresses. More details on how the trust funds can best be used for the benefit of the Provinces communities should be available over the coming months.
MINISTER OF TRANSPORT, INFRASTRUCTURE AND COMMUNITIES As announced in Budget 2006 by the Minister of Finance, the Honourable James Flaherty, the Government of Canada has provided a one-time payment of 900 million to provinces and territories into a third-party trust. The Public Transit Capital Trust is for capital investments in public transit infrastructure including rapid transit, transit buses, intelligent transportation systems and other investments that include high occupancy vehicle and bicycle lanes. Provincial and territorial governments are responsible for the decisions relating to the administration of these funds, including how these funds will be allocated.