The other revenue tools, given their nature, should be discussed in conjunction with other municipalities. However, there is nothing wrong with the city at least start the process and at least try to come up with a chunk of the money. Should those other sources materialize I am sure they can be worked into the plan. Any tax is a hot issue in Toronto - playing the waiting game just delays the inevitable.
Exactly. Some tools are better administered at the local level (tax increases, vehicle registration fees, parking fees, etc), while some are better administered at the regional level (road tolls, sales tax, etc).
What I expect to happen is that Metrolinx will propose some tools for revenue generation to get a "base layer" of permanent funding. This base funding will be divided up most likely based on population. This means that theoretically a municipality can do nothing on their own and just wait for their "funding pot" to top up to the point where they can build one of the projects on their list.
OR what they can do is implement tools on their own (like Toronto is doing) in order to supplement what Metrolinx will already be giving them, allowing them complete more projects in the same timeframe.
And if we get a National Transportation Strategy (hey, a guy can dream), then those funds would be added into the Metrolinx "base funds" as well.