Taking transit in Metro Vancouver will cost a little bit more come Canada Day.
TransLink’s board of directors unanimously approved a 2.3-per-cent fare hike at its meeting Thursday.
The fare increase is actually lower than what the agency had initially sought. Its plans to hike fares by 4.1 per cent in 2020 and 4.6 per cent in 2021 were derailed by the COVID-19 pandemic.
TransLink agreed to hold fare hikes to 2.3 per cent until 2024 as part of a deal with the provincial government for $644 million in funding under the Safe Restart Agreement last year.
The organization said it needs to increase fares to maintain service and cover a funding shortfall amid depressed ridership numbers.
System-wide ridership plummeted to just 17 per cent of normal in April 2020. While it has since rebounded somewhat, it has plateaued at about 40 per cent of last year’s average ridership.
Under the changes, an adult one-zone conventional ticket will climb five cents from $3 to $3.05.
An adult one-zone compass card trip will climb from $2.40 to $2.45. And an adult monthly pass will climb from $98 to $100.25.
A concession one-zone fare will climb from $1.95 to $2, and one-zone concession monthly pass will climb from $56 to $57.30.
The proposed fare increase would apply to regular and discounted fares, and is expected to generate about $4 million per year.