When Pace entered into the agreement with CTA and Cubic to develop and install the Ventra System for Pace it was determined that a significant portion of the development costs for Pace participation would be amortized over the 10 year life of the project. This cost known as the "base component fee" amounts to $100,360 per month for the 10 year period. ICE Funding will be used to pay the monthly base component fee for the first two years of project inclusion in the ICE program as they will support the development of innovative new technologies that enhance the customer experience while improving the coordination of services between the service boards. Funding: 2015 ICE: $1,200,000
The project is complete.
Funding Amounts by Source