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In a letter, the FTA denied the City of Honolulu’s request to extend the deadline for the so-called recovery plan until the end of June.
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The high figure is based on a scenario in which the general excise tax surcharge for the rail gets extended another 10 years at the same 0.5% rate.
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Additionally, the earliest trains on Sunday would start at 8 a.m., while the start times for trains on weekdays and Saturdays would remain at 5 a.m. and 8 a.m., respectively.
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The roughly $180,000 in cost savings from the night service reductions for the Springfield Mass Transit District are less than one third of what is already being done while SMTD awaits delayed payments and a clearer budget picture from the state.
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The agency estimates that only 0.03% of riders will be impacted by the closures, because the overwhelming majority of sales transactions can be performed at station fare vending machines, online, regional commuter stores, or at retail outlets.
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Fares on the regional bus system would increase to $2 from $1.75, while the plan would also raise Metrorail fares, reduce train frequency, and cut 1,000 jobs, including 300 bus and train operators.
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Long-term deals on fuel and increased non-fare revenue have helped CTA cope with reduced funding from the state and a decline in ridership, which fell to just under 500 million in 2016.
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The actions support the company’s efforts to build its earnings growth potential and highlight its focus on improving productivity, reducing costs, and optimizing its worldwide footprint to deliver increased value to customers and shareholders.
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The authority, which has an annual budget of about $412 million, spent roughly $5.9 million less on fuel in 2016, compared with 2015.
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The agency does anticipate, however, picking up a Virginia Railway Express option to purchase 21 railcars from Japanese rolling stock manufacturer Nippon Sharyo at an estimated cost of $2.5 million per car.
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