The staff has neglected to mention that $648,732 is the gross revenue associated with future boardings. Since TriMet loses money on every trip, the net value of future fares will be a negative number.
Trimess
Wednesday, January 22, 2014
Timet continues on its path as a property development agency
The staff has neglected to mention that $648,732 is the gross revenue associated with future boardings. Since TriMet loses money on every trip, the net value of future fares will be a negative number.
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Since TriMet loses money on every trip, the net value of future fares will be a negative number.
False. Money is to be spent sending trains down the tracks and buses down the road regardless of whether this development happens, and the projected ridership will use those trips and not require added service. It's not going to take $21,624.40 more subsidy a year to provide transit service just to this development.
As empty seats/space on a transit vehicle are filled up, the cost per ride and subsidy needed go down, not increase.
(That being said, it would be good to know what the highest bidder would pay for it and what they would do with it, and it's fair to question the stated costs and public value of this project.)
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