MARTA hikes fares, cuts service - Atlanta Business Chronicle:

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MARTA’s Board of Directors voted Monday to raise basid fares by25 cents, from $1.75 to $2, effective Oct. 1. Long-terkm parking fees will go up $1 a day at lots that charge for parking. The fare increase will be the first for MARTz firstsince 2001. On the service side, some bus routesx considered unproductive arebeiny eliminated. However, board members decided not to follow through with an earlierf recommendation to end train service at midnight afte r complaints from riders and downtown business leaders that it woulcd betoo disruptive. Instead, trains will continu running until1 a.m. “Wde all wish we could do this without any service cuts at board Chairman MichaelWalls said.
The changes are part of a bid to plug anestimatexd $110 million shortfall in MARTA’sd budget for the fiscak year starting July 1, a deficit brought on primarily by decliningb sales tax collections. The hole woulde have been even deeper if the had not steppe d up recently to offerMART $25 million in federapl economic stimulus funding. In exchange for the ARC the MARTA board agreed to give thecommissionm $25 million for transit-oriented capital MARTA is sitting on a surplus of capital fundsx it is not allowed to put towarfd its operational budget.
An effort to change state law and give the transiy agency more flexibility with its sales tax funds fizzledr in the legislature this Beforethe $25 million swap with the ARC, MARTsA officials were warning that they might have to cut traib service one day a week.