$12.4 billion to be spent on huge TTC deal

Queen's Park has struck a deal with the city for a multi-billion dollar transit expansion, according to sources at the legislature.

The McGuinty government is funding an $8.2 billion light rail line that will travel under Eglinton Avenue, running from Black Creek and connecting to the Scarborough Rapid Transit Line.

CTV's Paul Bliss reports that from there it will continue above ground to the Scarborough Town Centre on the existing Scarborough's RTL.

Most of the 20 kilometre cross-city route will be underground making it fast and convenient for riders who wish to take only one train to cross the city.

Also confirmed by the source is that the city of Toronto will fund the extension of the Sheppard subway line at a cost of $4.2 billion.

Senior McGuinty government officials are said to be "very pleased" with the deal as it maintains the cross city routes while serving some of the city's ‘neediest neighbourhoods'.

Construction should be complete by 2019.

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  The deal could will see $12.4 billion spent on upgrading the TTC to include two new major transit lines.