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February 23, 2021
February 23, 2021

MBTA parking revenue drops more than 90 percent

State House News Service

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.

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Trending

  • 7Weather: Breezy with a Cool-Down for the End of the Week
  • Number of Mass. communities considered high-risk for coronavirus drops to 28
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  • Senate bill will narrow income eligibility for $1,400 stimulus checks
  • Here’s a list of all the MA scratch ticket games with unclaimed prizes over $1 million
  • Police: Man who told stranger on Orange Line train he was Satan claimed he was ‘only flirting’ with her
  • Baker: ‘No plans’ to lift mask mandate in Massachusetts
  • Click here for more coronavirus coverage

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