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9 <br /> A Financially Sustainable Near-term Solution <br /> What options exist to become financially sustainable? <br /> Before attempting to implement the Growth Network Plan, Everett Transit must address near-term constraints <br /> in order to continue to provide efficient and effective service.A number of options are available, both to reduce <br /> costs and to increase revenues. <br /> ifttiuon�a'��iID�}eN 10,0-1,[1[ Iii vAtI luR 10,11,74) a!pi,oq l ifl��r�i^^t <br /> Reduced peak vehicle needs Sales tax <br /> Restructure service in order to reduce the $3M in 10 years Make use of the existing taxing authority, $9-10M/year <br /> number of buses required increase from 6/10th to 9/10 <br /> 10%Service Hour Reduction $1-1.5M/year Fares <br /> Raise the current$1.00 fare $200-500k/year <br /> No Sunday service <br /> Ensure good weekday service by removing $1-1.5M/year <br /> service on Sundays Additional operating grants <br /> Federal and state grants to aid in $200-500k/year <br /> Reduced span of service operations and/or capital purchases <br /> Operate the buses either not as early or $1-1.5M/year <br /> not as late in the day <br /> Additional advertising opportunities <br /> Paratransit policy adjustments Partner with advertisers for additional bus $100-200k/year <br /> Restrict paratransit use to only those $400-600k/year stop or vehicle advertising <br /> riders who meet the ADA requirements <br /> Private Partnerships <br /> Organizational Efficiencies Leverage potential private funding <br /> Identify cost-saving administration $100-200k/year for capital improvements or specific $100-200k/year <br /> strategies and organizational restructuring operations <br /> As an example, reducing the peak vehicle needs through restructured service would reduce the number of <br /> buses that need to be replaced.These cost savings would allow operating revenues to better match total <br /> costs and extend financial sustainability into the future.A summary of how this may be achieved is shown on <br /> the next page. <br /> These options provide the opportunity to move toward the vision of the Long Range Plan by focusing <br /> resources to achieve the priorities of the Growth Network which include: <br /> ► Ensuring effective and cost-efficient service along transit-supportive corridors <br /> ► Prioritizing the increase of transit service into areas that will) likely see the largest amount of growth <br /> ► Providing customer-focused transit service that is adaptable to changing needs and transportation <br /> trends <br /> 1 1 8 Everett Transit Draft Long Range Plan 35 <br />