com Live in the moment TBO. Please visit http www. com go getflashplayer to download this plugin. An endowment started by the developers of Harbour Island to fund the streetcar could be depleted by . which runs the system looking to extend the endowment s life cut costs and find additional revenue sources. The endowment provides about million yearly including principal and interest. Because ridership has been less than projected the principal has been tapped faster than expected. million remains from the original million. Monday through Friday to save about a year. That change started Oct. The extension could boost fare revenues by more than yearly. The move also signals a step toward creating a mass transit system. The streetcar began rumbling through Tampa in October . So far the streetcar has a lackluster record. When proposed then Mayor Dick Greco predicted the line would give rides yearly. This past fiscal year the streetcar s best recorded rides. ! When the endowment is exhausted the city will be on the hook to take over the funding. Supporters say there s plenty of good news. Ridership this year increased by and revenue jumped by . About in principal is budgeted toward streetcar operations this fiscal year. This is a viable business that needs time to grow. The extension plan is awaiting the completion of a federal environmental study. Work could start next year provided federal funding is approved after the environmental study. Reporter Rich Shopes can be reached at or rshopestampatrib. Please visit http www. com go getflashplayer to download this plugin.
Source: http://news.tbo.com/news/metro/MGB1QMMV38F.html
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