Mayor Rob Ford vowed Tuesday to secure funding from upper levels of government and, if need be, the private sector to build a promised subway extension in Scarborough.

In an exclusive interview with CP24 reporter George Lagogianes, Ford said he is confident that funding will fall into place, as he lobbies the provincial and federal governments for cash, mulls a property tax hike and leaves the door open for a public-private partnership (P3).

“We’re going to get these subways built once and for all,” Ford told CP24 during a break in Tuesday's city council meeting.

The penny-pinching mayor said the last thing he wants to do is raise property taxes, but he is leaving the door open for a modest increase.

“I’m doing everything I can to avoid it, but I understand we can’t be freeloaders,” Ford said, adding the city is willing to contribute a share to make sure the extension is built.

Ford said borrowing money is a “last resort” and an option that he is not considering, but he hasn’t ruled out seeking financial assistance from the private sector.

Ford and his council colleagues may decide Wednesday whether to build light rail transit or a subway extension in Scarborough.

At its final meeting before the summer break, council is debating whether to stick with a plan to convert the Scarborough RT into an (LRT) line or abandon that project and extend the Bloor-Danforth subway line further east.

The meeting, which has other items on the agenda, is scheduled to last two days.

Council committed to the LRT plan in 2012 and the province set aside $1.8 billion for the project in a master agreement with Metrolinx.

However, council changed its mind and voted last May to support a Bloor-Danforth line extension from Kennedy Station to Scarborough Town Centre and Sheppard Avenue East.

Tuesday’s debate was held after Metrolinx asked the city to commit to one of the projects because it has already spent millions on the LRT project.

If council votes to proceed with the subway proposal, the city will seek to amend the agreement or strike a separate agreement with the province and Metrolinx, the regional transportation authority, to use the $1.8 billion for the Bloor-Danforth extension.

The subway extension would still cost an additional $1.1 billion.

Ford previously said he would be open to a 0.25 per cent property tax hike over four years to raise cash for the project, but a report by city manager Joe Pennachetti calls for a higher increase, in addition to hike in development fees.

According to the report, either project would effectively serve the Scarborough RT corridor.

The LRT would provide greater overall geographic coverage, more stations and reliable service at a lower cost, while a subway would be faster, eliminate the need for a transfer at Kennedy Station and boost ridership, according to the report.

There would be no need to shut down the Scarborough RT during construction of a subway extension, but the report points out that the subway extension requires further study to determine the exact impact on land use, the transit network and ridership.

Ford and Transportation Minister Glen Murray met to discuss the subway proposal at city hall Monday. After the meeting, Ford said he and Murray are “on the same page.”

Murray, who just two months ago nixed the idea of a subway, said he was “very pleased” that Ford is prepared to make an investment in transit.

Premier Kathleen Wynne and her Liberal government are being criticized for the about-face on a new subway. Wynne denies the change of heart was motivated by an upcoming byelection in the Scarborough-Guildwood riding.

With files from The Canadian Press.