ION Update submitted by The Region of Waterloo
ION, Waterloo Region’s rapid transit service, reached a major milestone on March 19 when Regional Council approved GrandLinq as the team to design, build, finance, operate and maintain (DBFOM) Stage 1 light rail transit (LRT). The approval follows a comprehensive evaluation of the proposals submitted from the three short-listed teams in the running to build LRT between Waterloo and Kitchener.
Highlights of the GrandLinq proposal include:
· The capital cost of the proposal is consistent with the capital cost estimate, and can be accommodated within the ION project capital budget of $818 million.
· Projected operating, maintenance, lifecycle and financing costs can all be accommodated within the Region’s approved funding strategy.
· Based on the GrandLinq proposal, the rapid transit project remains on-time, on budget and the costs remain affordable based on the Region’s approved funding strategy.
The final Project Agreement with GrandLinq is expected to be signed by early May, with ION Stage 1 LRT construction set to begin shortly thereafter. Construction details, including scheduling and timing, will be available well in advance through the UpTown Waterloo BIA.
Early utility construction is due to begin this Spring and will include work by Bell Canada, Waterloo North Hydro and Union Gas. More details on this early construction will be available in the May newsletter.
For more information contact Kim Moser, Manager of Community Relations at email@example.com or 519-575-4757 X3461