The $2.24-billion operating budgets for both conventional and Wheel-Trans services will fund restoration of service to 100% of pre-pandemic levels on the conventional network with some room for new and enhanced TTC programs.
The new fare structure aims to simply the fare offerings, incentivize pass sales for riders who use multiple transit modes for their daily commutes, and offer financial relief to RTA passengers as the economy recovers from the COVID-19 pandemic.
The reduced fares will take effect on January 1, 2022.
A construction contract for the depot is expected to be appointed by the end of 2022.
The company has committed to a minimum investment of at least $76 million, with additional investments planned over the next several years, and expects to create more than 200 new jobs over the next several years at the 327,000 square foot battery system production plant.