Some Metro Vancouver mayors are calling on TransLink to get its finances in order after figures released this week show the public transportation provider will be short $300 million per year by 2012.
“This is a plan for absolute disaster in my mind,” Richmond Mayor Malcolm Brodie said Friday. “Metro Vancouver continues to have a very real reason to be concerned about TransLink finances because we are on the hook for it.”
Speaking at the Metro Vancouver Board’s meeting, Brodie said TransLink seems to be oblivious to the urgency of the situation.
The figures released Tuesday show TransLink will use up much of its $400-million reserve over the next four years, despite bringing in millions of dollars in surplus revenue in 2007.
By 2012, TransLink will need $150 million each year just to fund existing services, plus an additional $150 million for planned expansions.
[cbcnews]
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