While many transit agencies around the country have increased fares in recent months to deal with budget deficits, Atlanta's MARTA has reported good financial news and has even proposed a 2015 budget that expands rail service.
"The $415.6 million operating budget [for 2015], which takes effect July 1, calls for a 19 percent increase in rail-service hours, a goal that will be met by reducing waiting times for trains to no more than 10 minutes during the morning and afternoon peak periods," reports Dave Williams.
According to MARTA officials, the agency is on sound financial ground after running int h red three years ago, "forcing the system to significantly deplete its reserves and increase the base fare from $2 to $2.50."
The news has gained the attention of the bond market: Moody’s Investors Service upgraded MARTA bonds to Aa3 last month, and the agency voted to refinance $286 million in previously issued bonds.
Read the full story: New MARTA budget to step up service
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