The TTC is floating the idea of a rapid ferry service that could take passengers from Etobicoke and Scarborough into downtown Toronto in 15 minutes.

The commission will request a study into a ferry service running along the city shoreline at its next meeting on Wednesday, the Toronto Star reports.

Chairman Adam Giambrone, who is proposing the study, expects two high-speed boats and docking facilities on Lake Ontario would cost between $20 million and $25 million.

"The technology in boats has advanced to the point where it is cost-effective to buy boats that go 30 to 40 knots (55 to 74 km/h)," Giambrone told the Star.

He said the commission must determine if there is a demand, but noted there are about 1,000 parking spots at the Scarborough Bluffs and more than 400 close to Humber Bay in Etobicoke.

Transportation Minister Donna Cansfield supports the proposal, calling Lake Ontario an underused "H2O highway'' that could help ease the city's growing gridlock problem.

"I think they should explore all these possibilities," she told the Star.

Cansfield added GO Transit could also look at ferry service from Hamilton that could ship packages and residents to and from Toronto.

Mayor David Miller said the ferry idea is worth looking at, but admitted the economics might make it difficult to launch.

But TTC commissioner Glenn De Baeremaeker (Ward 38, Scarborough Centre) called the idea "absolutely fabulous."

"It would take me normally about 45 or 50 minutes to drive downtown. It would take maybe five minutes to drive to Bluffer's Park. You would cut some people's commuting time in half," he told the Star.