The Massachusetts Bay Transportation Authority will charge 23 percent more for fares, keep service reductions to minimal levels and use money from one-time revenue sources to close its budget gap under the plan the transit system will send to the MBTA board for final approval.
The MBTA announced its proposal to close the $185 million deficit for the 2012-2013 fiscal year Wednesday, just a day after releasing a preliminary analysis of the public’s response to its earlier plans.
The MBTA board will look at the proposal April 4. If approved, fare hikes will officially begin July 1.
Under the plan, bus fares will climb from $1.25 to $1.50 and CharlieCard subway fares from $1.70 to $2.00, according to an MBTA press release.
“We kept fare increase at a modest level compared to what was proposed in the first two scenarios,” said MBTA spokesman Joe Pesaturo, referring to earlier MBTA plans for either 35 percent or 43 percent fare increases.
The pricing will allow the T to “remain competitive” with other transit systems around the country, Pesaturo said, adding that even with the raised fares, “the T will offer a lower rate.”
In New York, a typical subway or bus ride costs $2.25, and in Minneapolis, subway and train rides range from $1.75 to $3.00 during rush hour.
The fare increase will generate $72.9 million in the coming year, according to the release.
The MBTA also outlined its plans to scale back on administration costs, which will involve eliminating 51 jobs, as well as some transportation services, which the MBTA predicts will save $15.4 million.
“[The success in the proposal was] that we were able to avoid drastic service cuts – that’s what we heard from the most from in the public process,” Pesaturo said. “People were less opposed to fare hikes than service cuts.”
The MBTA recommended eliminating four weekday bus routes – the only routes that will be entirely removed, it noted – and offered a revised schedule for 14 other bus routes.
The transit system will also scale back on some weekend services, including commuter rail trains on the Greenbush, Needham and Kingston/Plymouth lines.
The MBTA will also receive $61 million to shore up its debt in one-time grants to the T, which include $51 million from the Massachusetts Department of Transportation Vehicle Inspection Trust Fund, $5 million from MassDOT snow and ice surplus, as well as $5 million from North Station Garage lease payment, according to the press release.
“The proposal we put forth today reflects our current fiscal reality and the feedback we heard from customers,” said MassDOT Secretary and CEO Richard Davey in the release. “We have put forth a solution that limits the impact on riders for one year, but I encourage everyone to remain engaged in helping us find a long-term fix for the T’s budget challenges.”
MBTA officials built the plan “almost entirely” based on the more than 6,000 comments they received in response to their first two proposals, Pesaturo said.
“We hope people understand the T is faced with difficult financial situations and this proposal reflects the comments we heard in the public process,” Pesaturo said.
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