Toronto, ON - Mayoral candidate Frank D'Amico announced his plan to establish a new City-run corporation focused on expediting transit projects while minimizing the impact on the City budget. The TTC Development Corporation will work collaboratively with other organizations and the private sector to accelerate transit expansion, improve services, and support economic growth in the City.
The TTC Development Corporation will be responsible for managing the design, construction, and delivery of transit projects on behalf of the City of Toronto. By creating this corporation, D'Amico aims to ensure that transit projects move forward quickly, efficiently, and with little to no burden on the City's current budget.
D'Amico also announced a plan to fund subway platform barriers at all TTC stations through innovative methods. The TTC will offer new advertising spaces, naming rights, and legacy item sales to fund this critical safety initiative. The new advertising spaces could include areas to promote Toronto or TTC assets, which would generate new revenue streams for the corporation.
Naming rights and sponsorships could be assigned to stations, rapid transit lines, vehicles, routes, streets, and other City assets. The TTC will work with the private sector to identify potential naming and sponsorship opportunities that will generate significant revenue while aligning with Toronto's values and priorities.
Additionally, the TTC will offer legacy sales that include Leave A Legacy displays, tiles, or artwork throughout the City of Toronto. This program is similar to what they do at Disney Epcot and will provide an opportunity for individuals to leave their mark on the City while supporting a critical safety initiative.
"I believe that the TTC Development Corporation and our funding plan for subway platform barriers will revolutionize the way transit projects are developed and delivered in the City of Toronto," said D'Amico. "By finding innovative ways to fund these critical safety initiatives, we can ensure that Torontonians have access to safe and reliable public transit, while also creating new opportunities for economic growth and development."
The TTC Development Corporation and the funding plan for subway platform barriers are part of D'Amico's broader vision for the City, which includes creating a more connected and accessible Toronto. By working collaboratively with the private sector, D'Amico aims to build a better city for all residents and visitors.