Toronto to use Geoist economics to raise $292 million for transit

[Frank de Jong]

Toronto Mayor originally proposed that the entire $2.7 billion would be raised through Tax Income Financing, but this has been scaled back.

Too bad, it would have been the biggest geoist economic project on the continent. 

Frank de J

Council approves $1.46-billion SmartTrack plan

Tax Increment Financing is a three-step process. One: Declare certain neighbourhoods TIF zones for a certain number of years. Two: Borrow money. Three: when property values increase in the TIF zones, take all the extra tax revenue and use it to pay back off the debt, instead of paying for other programs and services.