The Regional Transportation Commission will raise bus and paratransit fares for the first time in 15 years as the public transit agency grapples with a budget shortfall of more than $118 million. Fares on the RTC’s transit system are set to go up by varying amounts, and some fare options will be eliminated. MJ Maynard-Carey, RTC’s CEO, said the increases are needed to address the lingering budget shortfall. “We understand that raising fares, increasing costs for our transit riders, our paratransit riders, is a tough one,” Maynard-Carey said. “But we haven’t raised fares in over 15 years, and we are looking at a significant transit deficit.” Maynard-Carey said RTC created a working group to address the deficit. The group reviewed fares at similarly sized transit agencies to develop potential fare increases that could be refined after the agency receives public comment. A 60-day public comment period on the proposed fare changes ends June 23 and is available on the RTC’s website.…