Toronto city manager, Joe Pennachetti  has released his Scarborough Rapid Transit Options Report.

The report recommends raising property taxes in order to pay for an extension of the Bloor-Danforth subway line into Scarborough.

Mayor Rob Ford says he’s open to that.

But he says taxes could be raised by no more than 0.25 per cent in 2015 even though Pannachetti says Toronto should start with a half-point increase next year.

Ford says the tax increase is really an investment  that will stimulate the local economy and create good paying jobs.

He says the province must also provide 1.8-billion dollars.

Ford has a meeting with Federal Finance Minister, Jim Flaherty tomorrow and the Provincial Finance Minster, Glen Murray on Monday  to discuss funding.

Today’s report is on the agenda for next week’s City Council meetings   on Tuesday and Wednesday.