BART's Board of Directors approved a new pricing parking policy on Thursday. The proposed policy updates the allowed price ranges for BART's parking spaces and allows for the floors and ceilings to be gradually adjusted based on inflation over time.
BART's parking operating cost deficit was about $17 million this fiscal year, which is one of the reasons behind the implementation of the new policy. Updating the policy is also a way for BART to be in sync with parking prices across the Bay Area and among peer transit agencies, stated the resolution's executive decision document.
The average fare, which is currently $4.20, will increase by 23 cents as a result, according to a BART press release.
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