TIMMA Funding for East Bay Bus Service Sample Clauses

TIMMA Funding for East Bay Bus Service. Subject to availability of funds, TIMMA agrees to provide AC Transit an operating subsidy sufficient to cover the net operating costs associated with the East Bay Bus Service, which equals gross operating costs after accounting for revenue from fares collected by AC Transit (the “AC Transit Operating Subsidy”) and operating funding received from other non-AC Transit sources. Fare revenue attributed to this line will be determined using a mutually agreeable methodology to be finalized before the start of service and included in the Operating Agreement. The amount of the AC Transit Operating Subsidy required for a coming year will be set during the annual budgeting process between AC Transit and TIMMA, as further described below. Detailed transit service planning including the development of initial service schedules and operating costs is anticipated to be completed in 2017. The recommended service plans, operating costs and funding assumptions for this service will be included in a TIMMA/AC Transit Operating Agreement anticipated to be executed no later than 12 months prior to the start of services. The first Operating Agreement will use AC Transit’s official adopted hourly operating cost at the time of the agreement.
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Related to TIMMA Funding for East Bay Bus Service

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