TransLink Considers Selling Property to Raise Funds
TransLink considers selling property to raise funds.
TransLink is revisiting a plan to sell assets, like the Oakridge transit station, to fund its operations, warning that while such a move is not sustainable long-term, it beats cutting much-needed transit services.
The move has surprised regional mayors — who warn it’s a “slippery slope” to take — but CEO Ian Jarvis said selling the centre and moving it to a new location could bring in $220 million. Without the sale, he said, the beleaguered transportation authority would have to rely on its surplus reserves, which would likely be depleted by 2014.