investment

Have Your Say: Toronto’s Long-Term Financial Plan

As you may know, the City of Toronto is currently in the process of renewing and updating its Long-Term Financial Plan – and we want your input!

The Long-Term Financial Plan is a road map that will the guide the city’s investments so that we can build the city Torontonians want.

City Council has adopted economic, social and environmental strategies to move our city forward. However, we need a strategic plan that articulates our priorities, outlines our revenue and spending targets and establishes a transparent planning process so that we can make sound, fiscally-responsible investments in Toronto’s future.

This winter and spring, the city will embark on the second phase of public consultations. In particular, we want your feedback on the city’s long-term financial direction as well as how we can strengthen governance, financial management and oversight of the city’s programs and agencies.

Head to www.InvestingInTO.ca for more information on the city’s Long-Term Financial Plan and the fiscal challenges currently facing Toronto.

Click here to sign up for updates and learn about upcoming consultation sessions. You can also get involved by following @GetInvolvedTO on Twitter and using the hashtag #InvestingInTO.

2014 Traffic Signal Synchronizations – Great Results

Cutting congestion and gridlock remains my number one priority as Chair of Public Works.

That’s why I’m pleased to share the results of the city’s 2014 Traffic Signal Coordination Program.

In 2014, the city synchronized 224 traffic signals on 7 major corridors, including Yonge, Leslie and Sheppard.

The results were impressive, including:

  • A 10% decrease in overall vehicle delay;
  • A 4.5% decrease in fuel consumption (equivalent to the CO2 emissions from 693 homes’ electricity use for one year!); and,
  • A 4.6% decrease in emissions.

Overall, the 2014 work resulted in an estimated annual savings of nearly $17 million in reduced congestion-related costs.

Signal synchronisations also offer a great return on investment. The benefit-cost ratio of the 7 major corridors retimed in 2014 was 63 to 1!

Better yet, there’s more in store for 2015. 343 synchronizations on 11 major corridors are scheduled this year, bringing the four year synchronization total to nearly 1,000 since the program began in 2012.