Cubic Transportation Systems has done a good enough job now on CTA Ventra performance metrics to start receiving payments for its fare collection system. The Tribune reports:
The CTA is “getting ready” to begin paying Cubic for each time Ventra cards are used to pay fares on buses and trains, Steele said. Under the contract, Cubic will receive a variable share of fare revenue equal to about 4.4 cents per full-fare ride using a Ventra card, an additional 2 cents if a transfer is made and a penny more for a second transfer. Minimum CTA payments to Cubic are set at $728,897 per month.
Separately, the CTA has not yet decided when to begin paying Cubic the $2.5 million a month guaranteed over the next 10 years. Once Claypool gives the go-ahead for the monthly payments, it would require extraordinary circumstances for the CTA to legally be able to halt payments, under the contract language.
This sets the stage for the CTA to begin the final phases of the Ventra card rollout – the phases that were delayed because of all the snafus with Ventra in October and November.
That means that soon CTA riders will not be able to add value to the magnetic stripe fare cards or to the Chicago Cards. No date had been set yet, but look for that announcement soon.
As part of that final phase, the CTA will start a mail-in program for riders to transfer remaining balances from Chicago Card and Chicago Card Plus cards and from magnetic strip fare cards
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