TransLink has a legislated requirement to identify proposed transportation services, key initiatives, and capital investments, and detail how these services, initiatives, and investments will be funded.
Under the South Coast British Columbia Transportation Authority Act, we must prepare a 10-Year Investment Plan at least once every three years and present it to the Mayors' Council for approval.
Once approved, the 10-Year Investment Plan becomes the new strategic plan that will move the region towards the goals in the Regional Transportation Strategy.
The 10-Year Investment Plan outlines the strategic initiatives, transportation programs, and services that TransLink aims to deliver over the plan period:
level of services to be provided
major capital projects and key initiatives
estimated revenues, including partner government contributions
TransLink’s current strategic plan is the 2022 - 2031 Investment Plan.
Since the development of the first 10-Year Vision in 2014, TransLink has studied several potential new revenue sources to help fund regional transport investments. This funding work has continued alongside the development of the 10-Year Investment Plans, Transport 2050, and the 10-Year Priorities.
Transport 2050 recognizes that regional transportation funding will require a significant overhaul to meet key regional, provincial, and national objectives. This means continued partnership and expanded funding from the governments of British Columbia and Canada, as well as funding contributions from major project partners. It will also require new regional revenue tools that balance our reliance on transit fares and property tax, and replace our longer-term declining fuel tax revenue in ways that don’t negatively impact household affordability and are aligned with peoples’ ability to pay. Contributions to the 10-Year Priorities and investment plans by all levels of government will need to remain affordable within the priorities and fiscal frameworks of all jurisdictions involved.
Translink has previously studied new revenue sources and this past work has helped to better understand the advantages, disadvantages, and applicability to the region. These studies are not formal TransLink or Mayors’ Council policies but resources to understand more about these potential funding sources and how additional revenue can support the growth and development of the transportation network and diversify TransLink's funding portfolio.
For more details on funding sources, please see the Backgrounders below.