SEPTA is losing $1 million in fare revenue daily and projects an operating budget shortfall of at least $622 million, SEPTA General Manager Leslie Richards said earlier this month.
“We believe it’s going to be important for transit, all transit, for transportation, like our bridges, to receive some support from the federal government.” “That’s important to us being able to fill the gaps,” said Hanson. Public transportation agencies around the nation are calling on the federal government to pass a relief bill that will send more money their way. Hanson expressed gratitude for the authority’s inch into the black. Construction is set to begin next summer and is expected to be completed around 2024.īefore the pandemic, Hanson said, the authority had anticipated a surplus of $75 million by the end of next year. PATCO just completed the design phase of the project, said Hanson, and expects to seek bids from contractors early next year.
The project has been in the works for over 10 years and has a total budget of $29.3 million.
“Certainly, we will be taking cues from the environment, we’ll be looking at activity, and we’ll be looking at costs and revenues that we have as we move forward as we continue to make these decisions.” “Right now, we believe that this is an important project, and we’re planning to go forward with it,” said Hanson. Among them is the reopening of Franklin Square Station at Race Street between Sixth and Seventh streets, which has been closed since 1979. Despite the blow to bridge and PATCO revenues, Hanson said the authority has more than $400 million to help fund its capital projects.
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