Question Period Note: THE TORONTO WATERFRONT REVITALIZATION INITIATIVE

How is the Government supporting Toronto Waterfront Revitalization?

• The Government of Canada has partnered with the City of Toronto and the Province of Ontario to invest $1.25 billion in the current phase of revitalizing Toronto’s eastern waterfront.

• This investment is contributing to the long-term environmental, social and economic sustainability of the waterfront area.

• Since 2016, we have announced over $416 million in contribution funding towards providing critical flood protection to Toronto’s Port Lands, which will transform roughly 290 hectares of underused industrial land into a vibrant and resilient neighbourhood. These efforts are being led by Waterfront Toronto.

• Waterfront Toronto (formerly the Toronto Waterfront Revitalization Corporation) was established under provincial legislation as a corporation without share capital to lead and implement the Toronto Waterfront Revitalization Initiative (TWRI).

• In October 2000, Canada, Ontario, and Toronto announced a commitment of $500 million in contribution funding each to the TWRI, which supported a series of initial investments that served as the first step to transform the waterfront into sustainable new communities and to foster economic growth.

• Federal contribution funding was allocated primarily towards the planning, design, and construction of parks and other green and public spaces. Federal funding has also supported investments in urban infrastructure, strategic land acquisitions, and recreational facilities.

• The next phase of waterfront revitalization includes flood protecting the Port Lands for which Canada, Ontario and Toronto are contributing funding equally in a total amount of $1.25 billion.

• Federal support has been provided through: (1) a contribution agreement for up to $384.2 million towards the Port Lands Flood Protection and Enabling Infrastructure (PLFP) project; and (2) up to $32.5 million towards the Cherry Street Lake Filling project (which is now 95% complete) via the Canada-Ontario Bilateral Agreement for the Clean Water and Wastewater Fund. Both projects are expected to transform the underused industrial area into a vibrant and resilient downtown neighbourhood.

• The PLFP project is expected to provide critical flood protection through the creation of a naturalized mouth for the Don River. The project scope includes brownfield remediation, the creation of public parks, green space, and upgrades to existing municipal infrastructure including roads, bridges, and water and wastewater systems. It is expected to also establish new aquatic habitats and wetlands that support native species.

None