Toronto could miss out on $121.5 million in federal transit funding unless the city is granted more time to get its ducks in a row.
The money promised from the Public Transit Infrastructure Fund has been earmarked for projects like ordering 800 new buses, TTC station upgrades and track maintenance. But it came with stipulations city staff don't believe can be met.
Ottawa required that the projects be completed by March 31, 2019 and that no more than 40% be spent in that last year.
City staff suggest councillors ask for a year extension and increase the allowable rate of last-minute spending to 70%.
The TTC meantime is negotiations with vendors in an attempt to speed up the delivery of buses ahead of the standing deadline.