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Hampton Roads Transit (HRT) will hold public hearings next month on a proposed fare increase for light-rail, bus, ferry and paratransit services.A board committee recently recommended the agency raise the $1.50 single-ride fare by 50 cents and eliminate some other categories to simplify the agency’s fare structure, HRT officials said in a press release. The agency has not raised its basic fare since 1999.“We must tailor our fees to more closely align our income with the cost of providing the service,” said HRT President and Chief Executive Officer William Harrell.The existing system costs about $60 million annually to operate. With current fares, the recovery rate is $13 million, or 20 percent, however. HRT officials hope to increase the recovery rate to 23 percent. A fare increase of 50 cents would bring in an additional $3.12 million, they said.The hearings will be held Jan. 15, 16, 21, 23, 25, 27 and 29. Another public meeting on the proposal will be held in February, when the public can address the full board.
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