(A) Accordingly, the Board is committed, absent finding alternative sources provided by our stakeholders, to adjust fares each year over the next ten years to ensure that Metra will meet its normal increased operating costs and will be able to pay for deferred capital needs and related debt service, projected as necessary to fund $400,000,000 in debt. The more revenue that is raised from sources other than from our loyal riders, the less need there will be for future fare increases.
(B) In connection with the 2015 budget, the Board proposes enacting a fare increase of 10.8% as the first annual fare increase under the ten-year plan.
(C) Based upon current information, the projected ten-year fare increase plan is as follows:
Year | Projected Increase |
Year | Projected Increase |
2015 | 10.80%* |
2016 | 5.00% |
2017 | 8.50%* |
2018 | 4.00% |
2019 | 7.75%* |
2020 | 3.00% |
2021 | 3.00% |
2022 | 5.75%* |
2023 | 3.00% |
2024 | 3.00% |
*Year of Metra debt financing
| |
(Res. MET 14-16, passed 10-9-2014)