Showing posts with label insolvency. Show all posts
Showing posts with label insolvency. Show all posts

Monday, November 18, 2019

Stop Proposed $45 Million Central Avenue BRT As Dishonest Transit Agency Is Going Broke

Pinellas Suncoast Transit Agency (PSTA) is headed towards insolvency. PSTA's operating expenses keep increasing, their ridership and farebox recovery continue declining and PSTA is using their Reserves to keep operating.
Chart presented at May 29, 2019 PSTA Board meeting
Instead of addressing their declining financial position, PSTA is pursuing a proposed $45 million Central Avenue Bus Rapid Transit (CA BRT) service. PSTA submitted a grant to the Federal Transit Administration (FTA) requesting tens of millions of taxpayer dollars from the FTA and from the Florida Department of Transportation (FDOT) for the CA BRT.

PSTA's financial health is deteriorating. The FTA or FDOT should not be handing transit grant dollars for a costly and unneeded new service to a dishonest transit agency going bankrupt.