IndyGo will not have to raise bus fares next year in order to cover expenses.
The transit authority is proposing a largely balanced budget for 2016. IndyGo projects right now it will spend $72.5 million dollars running its busses next year. That’s just a half million dollars short of its revenue, but officials say they expect to find that in savings.
The final budget will be given to the IndyGo board on Aug. 27, according to CEO Michael Terry. The City-County Council must approve the spending plan in October. The $1.75 full bus fare to ride IndyG0 covers just 16 percent of its budget, with nearly all the rest coming from local, state and federal sources.
Work on Indianapolis’ new rapid transit bus system begins in earnest Tuesday. IndyGo will hold the first of several public hearings on the Red Line this evening.
The first leg of that north-to-south bus line will run from Broad Ripple to the University of Indianapolis with busses running every 10 minutes.
"I think it will be a great opportunity to demonstrate to our community, this is what we’re talking about. This is the new transit, if you will. And yes it will be local, but to have this rapid transit will be transformational," said Terry.
The Red Line is planned to eventually run from Hamilton County all the way to Johnson County. It will be joined by similar rapid bus lines running east to west.
The public hearing on the Red Line is at the central library downtown tonight. It begins at 5. Four more meetings will be held over the next few weeks. Here's the complete meeting schedule:
- Aug. 18 - Central Library: 5 p.m. - 7 p.m.; 40 E St. Clair St, Indianapolis
- Aug. 19 - College Avenue Branch: 2 p.m. - 4 p.m.; 4180 N College Ave, Indianapolis
- Aug. 24 - Fountain Square Branch: 10 a.m. - 12 p.m.; 1066 Virginia Ave, Indianapolis, IN
- Aug. 26 - Indianapolis Art Center: 6 p.m. - 7:30 p.m.; 820 E 67th St., Indianapolis, IN
- Aug. 27 - IUPUI Campus Center: 8 a.m. - 10 a.m.; 420 University Blvd., Indianapolis, IN