Needing to raise cash, the South Coast British Columbia Transportation Authority (Translink) is working on a plan to raise hundreds of millions of dollars to fund its bus fleet and rapid transit line.

Translink says it needs new money from new sources otherwise its service will be cut drastically.

To avoid that doomsday scenario, Translink is proposing a $100 per-vehicle levy, fare hikes, property tax increases, and a tax on every container entering local ports.

It's expected that the whole package could get Translink $350 million per year

"We want to try to keep as many of those funding options on the table [as possible],'' said Translink Chief Executive Officer Tom Prendergast.

However, Lower Mainland residents should not expect to see their taxes skyrocket just yet. A provincial election is coming up and Translink needs the provincial government to get on board with its plan. It likely means any potential tax hikes may be delayed until after the election.

With a report by CTV British Columbia's Jon Woodward