"California is stepping up to support Bay Area transitthis agreement will help protect transit service for more than three million monthly riders. The benefits of a strong transit system are clear: growing ridership, cleaner air, and less congested roads."
"These loan funds will be used if a November transit funding ballot measure is successful or another reliable source of funding is provided to BART... If it fails, we would not use the loan money because we wouldn't be able to pay it back."
California approved a $590 million loan fund for Bay Area transit agencies, including BART, Muni, AC Transit, and Caltrain, to be disbursed by the Metropolitan Transportation Commission. The loan amount is $160 million less than the $750 million previously promised when the state budget passed. The funding aims to ease pandemic-related revenue shortfalls as ridership remains well below pre-pandemic levels. BART says it will access the loans only if a successful ballot measure provides long-term funding; otherwise BART would not use the funds because it could not repay them. Officials warn of possible station closures and service cuts without new revenue.
Read at sfist.com
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