From the city's website (
link )
What Transit City contracts have now been signed and what is their value? For which specific components do they apply? What is the expected delivery date for each? What are the cancellation penalties (of not proceeding) comprehended in current signed contracts?
Transit City has issued contracts with an upset value of $1.65 billion (net GFST/HST) against which releases have been issued in the amount of $1.00 billion (net GFST/HST). A summary of the major contracts by category are presented in Attachment 1. Approximately 50% of the value of the contracts awarded up to August 2010 has been awarded by Metrolinx (including the Light Rail Vehicle -- LRV vehicle contract). The TTC cannot cancel or alter these commitments and these questions should be referred to Metrolinx directly. It was not possible in the time available to estimate the cost of cancelling/winding down the contracts awarded by the TTC.
Attachment 1:
http://www.toronto.ca/elections/pdf/candidates-questions-ttc-faq.pdf
Excluding the vehicles (which Ford proposes to sell for full value...) and the agincourt grade separation (which was needed anyways), on the order of $700 million has been spent on Transit City to date;.