Statement by Ryan McGreal

Dear Councillors, there seems to be a lot of consternation about the operating and maintenance costs for LRT, but those costs need to be put in context:

- We need to distinguish *gross* operating costs from *net* operating costs minus revenues.

- We need to remember that operating revenue from LRT will continue to grow with ridership, bringing the net cost progressively lower.

- We need to remember that LRT O&M costs are *replacing* existing O&M costs for the corridor. They are not just added on top of existing costs.

- We need to remember that new development along the corridor will grow the tax base. Waterloo Region's LRT has already attracted more than $3 billion in new transit-oriented development.

- We need to remember that transit-oriented development also saves the city money in not having to build new roads, water and sewer lines and maintain miles of new low density infrastructure. Waterloo Region is actually paying one-third the capital cost for their LRT becuase they calculated that it was *cheaper* than not building LRT and continuing to sprawl.

Hamilton is being offered full capital funding for the first leg of our BLAST rapid transit system. The operating costs will be comparable and soon progressively *lower* than the current operating costs for the corridor. New developments will grow our tax base. And we will save money not having to build new suburban infrastructure. This is a win-win-win-win situation and I urge you not to pass on this once-in-a-lifetime opportunity.

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