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Looking to the Royal Canadian Bank instead of the ailing state Transportation Trust Fund for a $300 million loan to bridge the gap between paying for work covered by a federal grant and actually receiving the money.
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This would help the agency close a $60 million budget gap, which has been cut in half from $120 million. This is the first fare increase in five years.
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Additionally, the Southwest Ohio Regional Transit Authority has reduced its estimates by $569,000 for both streetcar fare revenue and what it believes it can capture from those who want to advertise on the vehicles.
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The base fare for subways and buses went up by 25 cents to $2.75. The price of a 30-day MetroCard jumped by $4.50 to $116.50. The cost of riding the Long Island Rail Road and the Metro-North Railroad both went up about 4%.
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The proposed cuts represent a 45% decrease in CTA state funding or a $130 million cut; a 60% decrease in Metra state funding or a $20.8 million cut; a 41% decrease in Pace state funding or a $10 million cut; and a 15% decrease in ADA paratransit state funding or $8.5 million cut.
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One major issue the audit found was the MTA effectively paid double for fueling its paratransit fleet, by including fuel costs in the hourly payment and then paying again for fuel separately. The overpayments totaled about $10 million.
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Includes a six-year $478 billion surface transportation reauthorization proposal that would improve America’s highways, ports and transit networks.
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The $13 million, year-long pilot started in March 2014, extending service by 90 minutes on MBTA lines and fifteen bus routes on Friday and Saturday nights until at least 2:30 a.m. The pilot has drawn 850,000 riders since its inception
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RTA GM Joe Calabrese told a local newspaper that paratransit services are causing a financial strain on the agency and that tough decisions must be made. The plan also includes more training for riders who are able to use the RTA’s fixed-route services.
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While construction costs are on time and on budget, operating cost discussions are ongoing for the $133 million project.
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