FINANCE COMMITTEE TO DISCUSS SETTING PUBLIC HEARING
ON SPECIAL EVENT FERRY FARES TO SBC PARK

On Thursday, January 13, 2005, immediately following the 10 am Transportation Committee meeting of the Golden Gate Bridge, Highway and Transportation District Board of Directors, the Finance-Auditing Committee will discuss setting a public hearing to receive public comment on a proposal to increase the Special Event one-way ferry fare for travel between Larkspur Ferry Terminal (LFT) to SBC Park to $7 from the 2004 fare of $6.50. The likely date of the hearing, if set, is Thursday, February 10, 2005, at 9:30 am, in the Golden Gate Bridge Toll Plaza, Administration Building, Board Room. If the Finance Committee sets the public hearing, the matter will be presented to the Board of Directors at its January 14, 2005, meeting for concurrence.

Special Event fares are set, by Board policy, at a level that assures full cost recovery, or at break-even. Based on this, it is estimated that costs in 2005 will increase and require a fare increase. It is also estimated that approval of fares at the “break-even” level will generate revenue of approximately $510,000 in 2005.