Wednesday, January 23, 2008

CTA won't raise fares this year

Good news from Crain's Chicago Business...

Chicago Transit Authority fares will remain unchanged this year, in contrast to Metra, which will increase rates 10% next week.
CTA President Ron Huberman ruled out the possibility of higher fares during a CTA board meeting Wednesday, but left the door open for an increase next year. He said it depends on how much revenue is generated from fares, from a 0.25% increase in the sales tax rate for Chicago and suburban Cook County, and the agency’s expenses in each of the next two years.

For the immediate future, Mr. Huberman said he does “not anticipate a fare increase in 2008.”

Lawmakers recently passed legislation that staved off cuts in jobs and bus routes. Without such a solution, fares would have been increased to as much as $3.25 for train rides during peak hours.

Metra riders, however, will see a fare increase Feb. 1. The money will boost Metra’s operating budget and replenish its capital expenditures account.

On Wednesday, the CTA approved spending $26.6 million out of a pre-approved contingency fund to upgrade rail cars that will be delivered in 2011 to replace an aging fleet. The contingency fund had been approved when the CTA agreed to a $577-million contract to purchase 206 rail cars from Bombardier Inc. in Canada. The agency will test wireless and cellular technology that will enable it to diagnose problems and provide a video link to any car, which Mr. Huberman expects will provide a smoother, faster and safer ride on CTA trains.
And we may have some brand new cars on the system for the first time since the early 1990s. They'll be on the system next year.

No comments:

Post a Comment

PLEASE READ FIRST!!!! Comment Moderating and Anonymous Comment Policy

While anonymous comments are not prohibited we do encourage you to help readers identify you so that other commenters may respond to you. Either read the moderating policy for how or leave an identifier (which could be a nickname for example) at the end of the comment.

Also note that this blog is NOT associated with any public or political officials including Alderman Roderick T. Sawyer!