Fare Structure Finalized

The Portland Aerial Tram Executive Management Committee finalized the fare structure for the Tram at a meeting held this morning at Portland City Hall. The committee moved forward with the modified fare structure recommended by Commissioner Sam Adams. The fare structure was approved unanimously by the seven-member committee.

The Tram Executive Management Committee was charged with developing a cost structure that would cover the City's portion (15%) of operating expenses. The fare structure initially proposed by the committee originated from an analysis conducted by City staff. Based upon ridership estimates, staff determined that a roundtrip fare of $4.00 per rider would allow the City to cover their portion of operating expenses and run on a cost neutral basis. If the fare was not cost neutral, funds to cover the City's portion of Tram operating expenses would have to come from the General Fund and/or other taxes. The committee feels the recently approved fare structure is fiscally responsible and creates a seamless system for the transit user through monthly and annual passes.

Today's approved Tram fare will be $4.00 per rider for one round trip. Riders can take up to a day to complete one roundtrip ride. The following will also be honored as valid instruments for the Tram: TriMet annual and monthly transit passes and Portland Streetcar annual passes. Oregon Health & Science University (OHSU) badges, OHSU-distributed patient and family tickets, and OHSU courtesy tickets will also be valid for the Tram. TriMet and Portland Streetcar daily tickets will not be considered valid fare instruments for the Tram.

The Tram will also have its own annual pass available to riders in the near future. The committee approved the pass to be sold at $100. The Tram pass will be a valid fare instrument for both the Tram and Portland Streetcar.

Oregon Health & Science University will be contributing approximately $1.3 million annually towards Tram operating costs, which will cover the costs of ridership for OHSU staff, students, and patients. This amounts to OHSU paying up to 85% of Tram operating expenses annually.

The cost neutral result for public ridership was made possible because OHSU agreed to modify their existing agreement with the City, and will continue to pay up to 85% of the operating costs for the first five years of Tram operations. The original agreement provided for OHSU to pay 85% of the operating costs for only the first two years of Tram operations. After that time, OHSU would pay the percentage of operating costs equal to the percentage of OHSU riders (as defined above).

Public operation of the Tram officially begins Monday, January 29, 2007. Tram operating hours are from 6am to 10pm Monday through Friday, and from 9am to 5pm on Saturdays. The Tram is closed on Sundays. As a promotional offer, the Tram Executive Management Committee is offering free rides on Fridays between 6pm and 10pm, and on Saturdays from 9am to 5pm, throughout the month of February.

Sunday Operations
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