GO Transit Proposal
I would recommend leveraging the current transit system for out of town people to use the busing system in London.
I would recommend setting up 4 parking garages on the outside of the city(Wellington near ICE HOUSE, Oxford West, Dundas, and Richmond).
Like the Go System in Toronto the Go train takes you to the CNE, ACC, Skydome.
London Wellington could do a loop from Wellington to Queens back up to King then to Wellington again.
This would hit such venues like the Convention Centre, Victoria Park, Labatt Park, Harris Park, the Museum, and the Budweiser Gardens.
The Pros of this system
It would eliminate cars on the road to increase speed of current buses and your vehicular traffic.
It would be a new revenue stream from out of town people so you would not see an increase to Property taxes.
Finally you would have a bus that travels over 401.
It would eliminate congestion of the downtown from vehicles.
I would recommend doing it in 4 phases.
If the Wellington phase is a success then from the revenue of the first project then you could pay for the next phase.