S.O.R.T.A. Submits Cincinnati Streetcar Funding Request to the City of Cincinnati
CINCINNATI -- Under its contract with the City of Cincinnati, the Southwest Ohio Regional Transit Authority is responsible for submitting an annual Cincinnati Streetcar operating budget and funding request to the City of Cincinnati in preparation for the City’s July 1 fiscal year.
Today, SORTA submitted the Cincinnati Streetcar budget and funding request to the City’s Major Transportation and Regional Cooperation Committee.
Here’s how the Cincinnati Streetcar numbers look for the City’s July 1, 2016-June 30, 2017 fiscal year:
- Expenses $3,449,981.34 (Transdev, direct costs, SORTA overhead; does not include City costs)
- Revenue $ 618,291.67 (fares, naming rights, advertising)
- Funding request $2,831,689.67 (expenses minus revenue)
The Cincinnati Streetcar budget and funding request are based on several key assumptions:
- Fare: $1 for 2 hours; $2 day pass; half-fare for Fare Deal passholders and children under 45” (under age 2 ride free); and fare reciprocity with Metro
- Service: Monday-Thursday, 6:30-midnight; Friday, 6:30 a.m.-1 a.m.; Saturday, 8 a.m.-1 a.m.; Sunday and holidays, 9 a.m.-11 p.m.
- More accurate electricity costs than original projections, based on competitive procurement
- City’s overhead cost projections not included; these will be generated by the City
- Budget is based on Cincinnati Streetcar service beginning Sept. 15, 2016
Background: Scheduled to open in September 2016, the Cincinnati Streetcar is intended to expand transportation options, stimulate development, and enhance livability by connecting downtown, the riverfront and Over the Rhine. The Cincinnati Streetcar is owned and funded by the City of Cincinnati, managed by the Southwest Ohio Regional Transit Authority, and operated by Transdev.
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