Nobody could have predicted that an Oakland-SSF ferry service would have just a 7% farebox recovery:
It’s still early, but the new ferry service between South San Francisco and the East Bay will have to make a lot of improvements to maintain its generous funding subsidies.
Under the terms of its agreement with the MTC, San Francisco Bay Ferry — the regional agency in charge of the service — is supposed to maintain a 30 percent farebox recovery rate. After a month of operation, it was at 7.3 percent, a mark that has raised concern at the MTC. “The substandard farebox recovery rate is certainly a cause for concern,” said MTC spokesman John Goodwin.
The new SSF ferry building also cost $26 million.