By: Will Reisman : SFexaminer.com – excerpt
Commuters who drive to BART stations should prepare for a double dose of fare increases.
The transit agency’s board of directors approved a measure Thursday to expand the inflation-based fare increase policy until 2020. The biennial program, which expired last year, will ensure that fare hikes are scheduled for 2014, 2016, 2018 and 2020. Fares will go up 5 percent Jan. 1 and about 4 percent in each of the following rate hikes.
The board also approved a plan to increase parking rates at station lots. Daily fees at most stations are currently $1, but under the new plan those rates could be adjusted upward by 50 cents twice a year, with the first hike tentatively scheduled for June 1…
While BART has finished the past two fiscal years with operating budget surpluses, those numbers don’t account for the major long-term projects covered in the agency’s capital plan. That budget, which details projects such as rail replacement and station capacity enhancement, is facing a $10 billion shortfall. Revenue from fare increases will go toward bridging that gap… (more)