The Government of Canada has announced plans to commit up to $350m for the new Evergreen Transit Line.
The new line will be built under the Building Canada Fund and operated by the South Coast British Columbia Transportation Authority (TransLink). It is expected to create jobs and stimulate economic growth
The 6.8-mile line would run from Lougheed Town Centre in Burnaby to Coquitlam Town Centre via Port Moody.
The system will feature the same automated technology as TransLink's existing SkyTrain. The new line also will be fully integrated with TransLink's existing systems, providing a direct link to the Millennium Line, with connections to the Expo and Canada lines, West Coast Express and regional bus systems.
The federal funding is contingent on final project detail approval by the province of British Columbia, Treasury Board approval and the signing of a contribution agreement.
The federal government already has provided $66.7m for the Evergreen Line under the Public Transit Capital Trust in the 2008 budget. British Columbia has committed $410m for the project and TransLink, $400m. The remaining $173m will be funded by project partners, including a possible public-private partnership.
Construction is expected to begin in 2010 and be complete in 2014.
By Daniel Garrun.