Letter to the New York Congressional Delegation requests more than $4 billion in federal aid as it continues to respond to COVID-19.
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.
The agency will keep its operating budget essentially flat and reduce spending on construction projects by $416 million. The agency plans to spend $2.111 billion on operations in fiscal year 2017, which is $4.5 million less than this year.
The agency opened its $44 million Green Line only four years ago; however, the line currently averages only 440 boardings a day with limited service, and costs RT $330,000 annually to operate.
The updated figure assumes that it could be more costly to build rail than officials have already estimated, even factoring in the most recent price hikes, as the project enters “a more challenging, costly environment including the restricted Honolulu International Airport location and the urban City Center,” according to HART and city officials.
The statewide results, which showed 34% of respondents opposed using state dollars to plug the transit system’s budget gap and 26% were undecided or did not know, came as a surprise to analysts, who expected wider opposition to state intervention.
The agency began its budget process three months ahead of schedule to begin developing options to respond to a projected $12 million to $17 million shortfall. The agency's FY12 operating budget is $444 million.
Revenues expected through 2023 are $3.9 billion, or 25 percent, lower than forecasted in 2008 when voters approved the ST2 expansion plan. The ST2 plan included flexible provisions for delivering the projects during economic downturns including reducing the scope or delaying projects.
The board also authorized the MTA to schedule public hearings regarding some of the service changes included in the budget. The budget does not include a fare increase in 2010, adhering to the schedule identified with the Legislature in the spring.
Commitments to reduce costs up to a total of $1 million on current contracts.
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