October 29, 2013
Moody’s Investors Service cut the Aa3 rating on $2.9 billion of the agency's sales tax revenue bonds one notch to A1, citing diminished political will to raise revenue amid growing capital needs. The transit agency countered that it has no plans to seek additional funding, and that sales tax, fare and other revenue is increasing.
July 11, 2013
The agency is trying to broaden its strategic direction amid budget issues. It is conducting a trial run of the trolley through September, and is getting funding support for the project from local business groups and the City of Gig Harbor.
April 12, 2012
The provision, part of Congress’ FY2012 appropriations legislation, allows transit operators in the most populated urban areas to use a portion of their allocated FY2012 FTA funds specifically for this purpose.
July 7, 2011
County commissioners may authorize an emergency $100 million bridge loan for the struggling Miami-Dade Transit so it can continue work on key capital projects.
June 15, 2011
American Logistics Co., a national passenger transportation management company, along with Oceanside, Calif.-based North County Transit District and First Transit, have been selected as the winner of the Grand Golden Watchdog Award by the San Diego County Taxpayers Association.
January 7, 2011
The city's action violates the 38-year funding contract with SORTA. Multiple legal opinions from the city's attorneys since 1973 have protected the transit fund from the city's attempts to use the tax revenue for non-transit purposes.
September 15, 2010
Will save approximately $7.2 million in salaries and benefits by eliminating more than 70 positions — including more than a dozen at manager level.
May 28, 2010
The fare changes are expected to be enacted system-wide on June 27. The new fares will generate $108.7 million to help close a $189 million shortfall and build a sound budget for the new fiscal year.
May 25, 2010
The budget also includes funds to restore transit services cut in 2009 and freezes on salaries and hiring.
May 21, 2010
For the second year in a row, the budget assumes no wage increase, however, Metro is negotiating new contracts this spring with its major labor unions representing operators, maintenance employees and clerks.
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