Tompkins Consolidated Area Transit and Cornell University signed a second Memorandum of Understanding in late June formalizing Cornell’s annual fare payments to the transit agency through June 30, 2021.
The most recent agreement increases Cornell’s approximately $3.1 million annual fare payment by 1.5 percent each fiscal year from 2019 through 2021 for a total increase of $141,334. In addition, the university provides $837,432 in annual contractual payment as Cornell’s equal share of the investment in TCAT made by the City of Ithaca, Tompkins County and Cornell and $152,090 for Cornell’s equal annual share of capital expenses.
Cornell makes this annual fare payment to TCAT to subsidize the cost of Cornell’s OmniRide bus pass available to employees and students (first-year students receive a complimentary pass and all registered Cornell students can ride TCAT at no fare cost after 6 p.m. weekdays and anytime Saturdays and Sundays) as well as to enable Cornell staff and faculty to ride TCAT at no fare cost within designated routes on and near campus.
Both parties announced they will begin negotiations in 2019 for a new agreement to extend the schedule of fare payments beyond 2021.