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Rapid CEO Peter Varga receives bonus on eve of tax renewal

In just shy of two months, The Rapid will be seeking a renewal of a 1.47 mils tax. The millage will ostensibly be sufficient to help support its operations for another twelve years, to the tune of $14.8 million annually. Though the millage renewal is a short time away, the Rapid’s oversight board saw fit to award Rapid CEO Peter Varga a $4,500 “merit bonus” last month.

Peter Varga’s bonus, while only a negligible chunk of the overall budget, is another in a long line of wasteful financial decisions by The Rapid. The Rapid, operated by the Interurban Transit Partnership (ITP), has a long history of benefiting their executives and their organization at taxpayer expense, with no benefit for riders of taxpayers. It is enormously disrespectful of Kent County taxpayers to urge the passage of yet another millage, while siphoning off thousands for bonuses to ITP executives like Peter Varga (on top of his already ample compensation of over $200,000 a year).

Proponents of the millage will no doubt assert its necessity for continuing “vital transportation services’, even in light of stagnant ridership numbers. Despite grandiose assurances from previous expansions like the Silver Line, which failed to deliver promised ridership and revenue, the Rapid’s supporters will breathlessly assert that, with a little bit more money, everything will work just as they say.

In truth, the tax renewal will go to line the pockets of ITP executives, keep empty buses chugging along the roads, and for more empty central stations.

The KCTA urges you to vote NO on the upcoming Rapid millage.

 

 

Permanent link to this article: https://www.kentcountytaxpayers.org/rapid-ceo-peter-varga-receives-bonus-on-eve-of-tax-renewal/