The SF Chronicle’s Matier and Ross did their math on the new ferry from South San Francisco and Alameda, claiming that each passenger is subsidized to the tune of almost $100 a round trip ride. Tickets cost $14 dollars. According to M & R, the tab that’s being amortized over the next 20 years includes $26 million for the terminal at Oyster Point (San Mateo County sales taxes), $16 million for two ferries (Bridge Toll money) and $2.6 million in annual operating subsidies. (More Bridge Tolls). Total = $94 million, 100,000 riders annually x $14, comes out to $94 subside for every round trip.
Well. Yes. But of all the things on which Government wastes money, I can’t really get too upset about spending some cash on boats. To give this some perspective The Metropolitan Transit Commission Toll Folks just spent a reported $93 million (in cash, mind you) for a building in San Francisco that needs another $75 million to fix it up. A State Audit on that is supposed to come out by the end of June.