In a little under 6 hours, the MTA Board will hold a special meeting. This meeting which was announced a few days ago through an e-mailed press release is set to tackle possible worst case scenarios for 2010 (& beyond) which include another fare hike. Glenn Blain & Pete Donohue of the New York Daily News have more in this report which will appear in today’s print edition:
Straphangers could get socked with another fare hike next year – an unprecedented third in a row – if the state Legislature doesn’t come to the rescue, transit sources revealed Thursday.
The Metropolitan Transportation Authority projects a $300 million budget gap in 2010 – even if it increases fares by as much as 30% in June and implements sweeping service cuts this spring.
The agency had hoped the Legislature would agree to a bailout, including putting tolls on the city’s now-free bridges, but no deal has been reached.
Without a pact, double-digit fare hikes and deep service cuts are almost certain this summer. The MTA is ready to set new fares on March 25. A monthly MetroCard, now $81, could rise to $103.
The MTA today will start looking at worse scenarios for 2010 and beyond, sources said.
Click here for the complete report.
I will do my best to blog about the meeting later today. So keep it here for the latest info & analysis.
xoxo Transit Blogger