Phase Two of the 10-Year Vision 2018 – 2027 INVESTMENT PLAN APPROVED JUNE 28, 2018 tenyearvision.translink.ca TRANSLINK MAYORS’ COUNCIL BOARD OF DIRECTORS ON REGIONAL TRANSPORTATION Lorraine Cunningham, Chair Derek Corrigan, Chair Lois Jackson Mayor, City of Burnaby Mayor, City of Delta Larry Beasley Richard Walton, Vice-chair Greg Moore Jim Chu Mayor, District of North Vancouver Mayor, City of Port Coquitlam Sarah Clark Wayne Baldwin John McEwen Derek Corrigan Mayor, City of White Rock Mayor, Village of Anmore Mayor, City of Burnaby John Becker Darrell Mussatto Murray Dinwoodie Mayor, City of Pitt Meadows Mayor, City of North Vancouver Anne Giardini Malcom Brodie Nicole Read Mayor, City of Richmond Mayor, District of Maple Ridge Tony Gugliotta Karl Buhr Gregor Robertson Karen Horcher Mayor, Village of Lions Bay Mayor, City of Vancouver Marcella Szel Mike Clay Ted Schaffer Mayor, City of Port Moody Mayor, City of Langley Richard Walton Mayor, District of Jonathan Coté Murray Skeels North Vancouver Mayor, City of New Westminster Mayor, Bowen Island Municipality Ralph Drew Michael Smith Mayor, Village of Belcarra Mayor, District of West Vancouver Jack Froese Richard Stewart Mayor, Township of Langley Mayor, City of Coquitlam Maria Harris Bryce Williams Director, Electoral Area ‘A’ Chief, Tsawwassen First Nation Linda Hepner Mayor, City of Surrey For the purpose of the South Coast British Columbia Transportation Authority Act, this document constitutes the investment plan prepared in 2017 and 2018 for the 2018-27 period. This document will serve as TransLink’s strategic and financial plan beginning July 1, 2018, until a replacement investment plan is approved. ABOUT TRANSLINK ABOUT INVESTMENT PLANS The South Coast British Columbia Transportation This investment plan, known as the “Phase Two Plan”, Authority (TransLink) is Metro Vancouver’s regional outlines TransLink revenues, expenditures, services, transportation authority. TransLink is responsible and initiatives for the years 2018 to 2027 (the Plan for planning, financing, and managing the regional period). Over the course of 2017 and 2018, the TransLink transportation system to move people and goods. Board of Directors and Mayors’ Council on Regional TransLink operates and maintains regional transit Transportation worked collaboratively with the region’s service and infrastructure, including bus, SkyTrain, local governments and other partner agencies to guide the SeaBus, HandyDART and West Coast Express, with the development of this investment plan. assistance of its operating subsidiaries and contractors. The South Coast British Columbia Transportation Authority TransLink also owns and maintains five of the region’s Act (SCBCTA Act) requires TransLink to develop an bridges and shares responsibility for major regional investment plan that identifies planned transportation roads and walking and cycling infrastructure with local services, initiatives, and capital investments for the governments. TransLink is the first transportation next ten years. In each year, planned expenditures must authority in North America to be responsible for balance against established funding, revenues, and planning, financing, and managing all public transit in borrowing limits. The SCBCTA Act requires that TransLink addition to major regional roads, bridges, and cycling updates its investment plan every three years or more infrastructure. frequently. The TransLink Board of Directors is responsible for preparing the investment plan, and provides it to the Mayors’ Council on Regional Transportation for approval. After both governing bodies have approved the investment plan, it serves as TransLink’s strategic and WHAT IS METRO VANCOUVER? financial plan for the Plan period. Under the SCBCTA Act, TransLink’s service region includes all of the areas located in the Metro Vancouver Regional District, namely 21 municipalities, one electoral area, and one Treaty First Nation. Together, these areas are often referred to as “Metro Vancouver”. CAUTION REGARDING FORWARD-LOOKING STATEMENTS From time to time, TransLink makes written and/or oral forward-looking statements, including in this document and in other communications. In addition, representatives of TransLink may make forward-looking statements orally to analysts, investors, the media, and others. Forward-looking statements, by their nature, require TransLink to make assumptions and are subject to inherent risk and uncertainties. In light of the uncertainty related to the financial, economy, and regulatory environments, such risks and uncertainties, many of which are beyond TransLink’s control, and the effects of which can be difficult to predict, may cause actual results to differ materially from the expectations expressed in the forward-looking statements. ii. 2018 – 2027 INVESTMENT PLAN PHASE TWO PLAN EXECUTIVE SUMMARY Transportation is one of the most pressing issues affecting quality of life and the economy in Metro Vancouver. To address the transportation challenges of our region, the Mayors’ Council on Regional Transportation developed a 10-Year Vision of the new transportation investments needed to keep our region moving over the next decade. These transportation investments will not only improve mobility for residents, but also make progress towards the broader social, economic, and environmental goals of our region’s long-term transportation and regional growth strategies In 2016, the TransLink Board and Mayors’ Council approved the Phase One Plan, which funded the first phase of transportation improvements in the 10-Year Vision. The Phase One Plan included improvements to the transit system to reduce overcrowding and increase service quality so that people could travel across the region more quickly and conveniently. The Phase One Plan also provided new funding for roads, cycling, and walking infrastructure and project development for rapid transit expansion. Building on the success and momentum of the Phase One Plan, the TransLink Board and Mayors’ Council is proceeding with the Phase Two Plan, which funds the second phase of transportation improvements in the 10-Year Vision. The Phase Two Plan is an historic investment in transportation infrastructure and transit service in this region and will transform how people travel. The time is now to invest in our transportation system so that people across the region will have more convenient and sustainable transportation options, increased access to work and education opportunities, and improved quality of life in their communities. iii. 2018 – 2027 INVESTMENT PLAN HIGHLIGHTS OF THE PHASE TWO PLAN The Phase Two Plan funds the second phase of transportation improvements in the 10-Year Vision, including: • construction and operation of the Surrey-Newton-Guildford Line (Light Rail Transit) • construction and operation of the Millennium Line Broadway Extension • modernization of Expo-Millennium Line infrastructure, including significant capacity and reliability upgrades to systems and stations, and additional SkyTrain cars for the Expo and Millennium lines to increase capacity and accommodate growth • project development and potential early works for the Surrey-Langley Line (Light Rail Transit) • a 7% increase in HandyDART service, 8% increase in bus service and 42% increase in rail service across the region • two new B-Line routes, as well as transit priority and enhanced passenger amenities on other new B-Lines from the 10-Year Vision • new funding to municipalities for upgrades to walking and cycling infrastructure, such as sidewalks and bikeways • new funding to municipalities for upgrades to major roads, including seismic upgrades • planning for a potential gondola to SFU Burnaby campus and rapid transit to UBC Point Grey campus iv. 2018 – 2027 INVESTMENT PLAN FUNDING THE PHASE TWO PLAN New, sustainable funding sources are required in order for our region to build and operate the transportation infrastructure that people will need both today and in the future. A partnership between all levels of government The Phase Two Plan includes funding from all levels of government: federal, provincial, and regional. The Government of Canada and Government of British Columbia have committed an unprecedented amount of funding to cost-share the new transportation investments in the Phase Two Plan. TransLink has requested: • $2.0 billion from the Government of Canada for the capital costs of Phase Two projects, and • $2.5 billion from the Government of British Columbia for their commitment to contribute 40% of the capital costs of Phase Two projects. With the availability of this new federal and provincial funding, the region has a chance to improve the transportation system at a significantly reduced burden to local taxpayers. A balanced approach to regional funding To complete the regional share, the Mayors’ Council proposes the following changes to regional funding for transportation: • Transit fare increase: an increase to transit fares in 2020 and 2021 (10 to 15 cents on a single fare, 50 cents to $1 on a monthly pass), in addition to increases approved in the Phase One Plan. • Property tax increase: an increase to property taxes beginning in 2019, estimated at $5.50 per average household. • Development cost charge (DCC): an increase in annual revenues generated by the Development Cost Charge (DCC) for transit, with fee coming into effect in 2020. • Commercial revenues: collection of new commercial revenues (retail, filming, fibre optics) around SkyTrain infrastructure. • Parking tax increase: