New Deal for Toronto
Ontario and Toronto together reached a new deal that will help achieve long-term financial stability and sustainability for the City.
Following 10 weeks of productive working group discussions to find collaborative solutions to the City’s operating and capital deficits, an agreement was reached to put the City on a path to succeed.
The Province and the City have agreed on a new deal that includes up to $1.2 billion in provincial operating supports over three years for critical priorities like safe and reliable public transit and shelter supports for homelessness.
The Province will also provide significant capital relief, including by uploading both the Gardiner Expressway and the Don Valley Parkway. And the Premier has been clear: This government will never, ever toll these highways.
As part of the new deal, the Province will take steps to assume authority for necessary planning approvals to rebuild an Ontario Place that, once complete, will attract millions of visitors to the city year-round.
We have agreed to explore relocating the parking structure to the Exhibition Place grounds.
Toronto has agreed to meet or exceed the province’s housing targets and, as part of that work, identify and make available surplus city lands for building homes.
Our government and Toronto continue to call on the federal government to step up as a full partner with funding in critical areas of need such as shelter support for asylum claimants and transit funding.
When Toronto succeeds, Ontario and Canada succeed.