It could soon cost GO Transit riders more to ride the rails or hop on a bus if a staff-proposed fare hike is adopted.
GO Transit staff is requesting approval from Metrolinx to increase fares starting Feb. 18.
The increased funds, predicted to be nearly $20 million, would be put towards facility maintenance, increased capacity and new parking spaces.
- For existing fares between $4.20 and $5.50, the increase would be 30 cents
- For fares between $5.51 and $7, an increase of 35 cents is proposed
- For fares above $7, the increase would be 40 cents
Robert Sidall, chief financial officer of Metrolinx, said the transit company has experienced "unprecedented ridership growth."
"But ridership growth alone will not be sufficient to manage cost escalations and the costs of new initatives," Sidall said in a memo. "Given the provincial fiscal context, Metrolinx must provide a balanced operating plan to ensure the reliability of operations."
The additional revenue is estimated at $19.5 million on an annual basis.
The board is meeting on Monday to discuss the increase. The last fare increase was in March 2010.
