Trudeau Announces $30 Billion, 10-Year Fund for Public Transit
Ottawa, July 17, 2024 – Prime Minister Justin Trudeau unveiled details of a $30 billion, 10-year Canada Public Transit Fund aimed at expanding, improving, and modernizing the nation’s public transit systems. The announcement was made today as applications for the fund officially opened.
This ambitious fund, which was featured in the recent federal budget, will be allocated across three main categories: baseline funding for existing transit systems, metro region agreements for Canada’s largest cities, and targeted funding for rural and Indigenous communities, as well as active transportation initiatives.
“This fund will ensure our public transit systems are equipped to meet the demands of today and tomorrow,” said Trudeau during a tour of a fully electric bus at a York Region Transit facility in Richmond Hill, Ontario.
In addition to enhancing public transit, the fund is designed to complement the Housing Accelerator Fund by linking housing projects to transit access. This initiative includes measures such as eliminating mandatory minimum parking requirements for new constructions and supporting high-density housing projects near transit hubs.
While the fund’s money is not set to flow for another two years, applications for baseline funding and metro agreements are now open. The Liberal government views this as a critical step in addressing urban transit challenges and supporting sustainable community growth across Canada.