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Board members are concerned about the need for financial stability and inflationary cost increases.

PMG FILE PHOTO - A TriMet bus in downtown Portland.TriMet is considering raising fares effective Jan. 1, 2024

According to the regional transit agency, the TriMet Board of Directors, at its retreat on Wednesday, Nov. 9, asked staff to formalize a fare increase proposal for its consideration.

Several board members cited the need for TriMet to increase fare revenue and overall revenue to provide financial stability for transit operations, as well as address the inflationary increases in the cost of operating the transit system, the agency said in a Nov. 9 statement.

With a majority of the board voicing support for a 2024 fare increase, President Linda Simmons directed TriMet staff to move forward on the process to bring a formal fare increase ordinance before the Board. The first reading of the ordinance will occur at the board's April 26, 2023 meeting, with a second reading and vote at its May 24, 2023 meeting.

The increases under consideration include:

• Adult 2 ½ hour ticket — increase 30 cents to $2.80

• Honored Citizen 2 ½ hour ticket — increase 15 cents to $1.40

• Youth 2 ½ hour ticket — increase 15 cents to $1.40

• LIFT paratransit single ride — increase 30 cents to $2.80

Additional information is available here.

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