Fare revenue is not the only MBTA source of income that has taken a major hit during the COVID-19 pandemic.
Before the public health crisis, the T typically brought in more than $4 million a month from parking, but in January, the monthly haul was just $380,726, according to Pat Landers, the T’s treasurer.
Landers presented those figures at a joint Department of Transportation and MBTA board meeting on Monday, where he said the current parking revenue has been insufficient to fund debt service on parking revenue bonds.
At his recommendation, the boards approved a call option on the bonds for a net present value saving of $98.8 million.
(Copyright (c) 2020 State House News Service.