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However, the plan at the moment is not to build the entire line.

Up to $1.63 billion is available for the Surrey-Langley SkyTrain, which was initially set aside for the cancelled light rail. That amount will take the line as far as 166th Street in Fleetwood — seven kilometres of track and four stations. The annual operating and maintenance cost is estimated at $17 million.

It’s believed that ridership for the shorter line would be 39,900 in 2035. Annual fare revenue for the Fleetwood extension in 2035 is estimated at $10.2 million.

“That is a strong project. It has strong ridership, a strong rationale and it will be helpful for the region to have that project in place,” the Surrey-Langley SkyTrain project director, Jeff Busby, said of the first stage.

For procurement, staff have recommended a design-build-finance model, which means a portion of the costs will be financed privately, by the contractor, and will be repaid once the project is complete.

“We have assessed a range of different procurement models for the project with an eye toward managing risks to TransLink and to taxpayer dollars, ensuring that we are getting good innovation and efficiencies and making sure that the project comes in on budget and on schedule,” said Busby.

The cost of extending the line beyond Fleetwood — $1.9 billion — will be covered in the third phase of the region’s 10-year transit plan. That phase is not yet funded. Cross said the mayors are working with the federal government to get that money secured as soon as possible so the line can be built without a break.

The business plan will go before the Mayors’ Council next week for approval, and if it goes ahead it will be sent to the provincial and federal governments for consideration. If all goes well, procurement could begin this summer, and construction could start in early 2022 with the line going into service by late 2025.

jensaltman@postmedia.com

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