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II. System Expansion Evaluation Measures <br />The following measures are intended to evaluate the competitiveness and financial feasibility of candidate <br />WETA ferry projects. The measures are expressed in three ways: minimum, target and maximum (as <br />applicable). Minimum levels are what will be required after the initial 10 years of operation. Target levels <br />are consistent with expected performance of mature services such as Alameda/Oakland, Vallejo and <br />Harbor Bay. <br />Passengers per Revenue Hour (Commute -only service) <br />Passengers per revenue hour measures the number of boardings in a <br />given hour of service. Services that have high two-way ridership along <br />with a short travel time, enabling vessels to offer multiple runs in a <br />given commute period will be strong performers. This measure <br />provides an evaluation of ridership and the efficiency of operating <br />resources. <br />Minimum Target Maximum <br />100 150 250 <br />Passengers per Revenue Hour (All -day service) <br />All -day services typically operate seven days per week and generally <br />from 6 AM up to 8 PM. Today, only Alameda -Oakland and Vallejo are <br />all day services. The target for Passengers per Revenue Hour is slightly <br />lower, given lower volumes in the midday and off-peak periods. <br />Minimum Target Maximum <br />100 125 250 <br />Farebox Recovery <br />Farebox recovery is defined as the portion of operating expenses <br />covered by fare revenues. Farebox recovery measures ridership, <br />operating expense and financial sustainability. <br />50%-70% <br />Maximum <br />Page 3 of 4 <br />tL'� <br />Project Agreement <br />A Project Agreement will be required for candidate projects prior to <br />entering into the environmental clearance phase of a project. The <br />Project Agreement establishes a project service plan, identifies likely <br />funding sources and defines partner roles and responsibilities. Both <br />the WETA Board and the policy body from the project partner must <br />adopt the Project Agreement. <br />II. System Expansion Evaluation Measures <br />The following measures are intended to evaluate the competitiveness and financial feasibility of candidate <br />WETA ferry projects. The measures are expressed in three ways: minimum, target and maximum (as <br />applicable). Minimum levels are what will be required after the initial 10 years of operation. Target levels <br />are consistent with expected performance of mature services such as Alameda/Oakland, Vallejo and <br />Harbor Bay. <br />Passengers per Revenue Hour (Commute -only service) <br />Passengers per revenue hour measures the number of boardings in a <br />given hour of service. Services that have high two-way ridership along <br />with a short travel time, enabling vessels to offer multiple runs in a <br />given commute period will be strong performers. This measure <br />provides an evaluation of ridership and the efficiency of operating <br />resources. <br />Minimum Target Maximum <br />100 150 250 <br />Passengers per Revenue Hour (All -day service) <br />All -day services typically operate seven days per week and generally <br />from 6 AM up to 8 PM. Today, only Alameda -Oakland and Vallejo are <br />all day services. The target for Passengers per Revenue Hour is slightly <br />lower, given lower volumes in the midday and off-peak periods. <br />Minimum Target Maximum <br />100 125 250 <br />Farebox Recovery <br />Farebox recovery is defined as the portion of operating expenses <br />covered by fare revenues. Farebox recovery measures ridership, <br />operating expense and financial sustainability. <br />50%-70% <br />Maximum <br />Page 3 of 4 <br />tL'� <br />