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Budget Committee Briefing— February 7, 2018 <br /> Everett Transit Fare Increase Proposal to Offset ORCA Upgrade <br /> Background: <br /> Council supports maintaining transit fares. <br /> If we collect a fare—we need to stay in ORCA. <br /> ORCA will be replaced by 2021/2022 and Everett's share will about$1.1M in new costs by 2023 for <br /> capital equipment and program development. <br /> Everett Transit does not have excess funds to pay for ORCA upgrades.' <br /> Recommend a modest fare increase as follows: <br /> Effective January 2019-Adult-$1.25,Youth-$1.00,Senior/Disabled-$.50, Paratransit-$1.25 <br /> Effective January 2020-Adult-$1.50, Paratransit-$1.50(No increase for Youth for Senior/Disabled) <br /> Expected results over five years: <br /> Increased revenue-$1.6M <br /> Decreased ridership—1.3M (based on 4%ridership loss for every 10%increase in fare). <br /> Next Steps: <br /> Confirm concurrence with ORCA guidelines—Council Resolution, February 28, 2018 <br /> Sign replacement ORCA Interlocal Agreement—June/July 2018 <br /> Public Process—July/August 2018 <br /> Public Hearing—September 2018 <br /> Notify ORCA Board—November 1,2018 <br /> Implementation—January 1, 2019 <br /> Establish regular review of fares every two years. <br /> Year Revenue Adult Fare/ Youth Fare/ RRFP* Fare/ Ridership <br /> % Increase % Increase % Increase <br /> 2018 $1,230,289 $1.00 $.75 $.25 1,885,913 <br /> 2019 $1,448,782 $1.25/25% $1.00/33% $.50/100% 1,706,179 <br /> 2020 $1,574,446 $1.50/20% $1.00 $.50 1,615,476 <br /> 2021 $1,574,446 $1.50 $1.00 $.50 1,615,476 <br /> 2022 $1,574,446 $1.50 $1.00 $.50 1,615,476 <br /> 2023 $1,574,446 $1.50 $1.00 $.50 1,615,476 <br /> *RRFP(Regional Reduced Fare Permit for Senior/Disabled 5 <br />