Apparently, the Sheppard subway could see a giant chunk of funding come from the private sector

Gordon Chong, the man Rob Ford tapped to create a plan for financing the Sheppard subway, now says the private sector could foot up to 60 per cent of the bill for the mayor’s favourite transit fantasy. Given that Chong’s earlier predictions weren’t quite so rosy, the report’s outlook is surprisingly optimistic, which is good news for the Ford camp. Not so good for Ford, however, is Chong’s suggestion that the city needs to look into revenue sources like parking levies and road tolls (a method for financing the project that Ford previously stated was not on the table) if it’s to begin construction before the end of the current council term. Of course, as OpenFile’s John Michael McGrath points out, none of this is particularly groundbreaking. We always knew taxes could fund subways, and by extension, that taxes could fund the Sheppard extension. Of course, while Ford is fond of saying he was elected with a mandate to build subways, we’re guessing he wouldn’t feel the same way about a mandate to implement new taxes. Read the entire story [Globe and Mail] »

(Images: Rob Ford, Christopher Drost; Yonge-Sheppard subway, gloom)