August 15, 2019
The Loop Trolley isn’t performing as well as was predicted
when they soaked taxpayers for the opportunity to fund it. In 2017, an annual
ticket revenue of $394,433 was predicted for the first year of operations.
Between November 16, 2018 and June 30, 2019, the trolley
produced $22,283.
The company’s executive director points out that the revenue
projections were based on a seven-day-a-week schedule, and the trolley is only
running 4 days, Thursday through Sunday.
So: Let’s double the six-month revenue: In a year that would
produce $44,566. But that’s only for 4 days a week.
Let’s double that (I know, that’s 8 days a week, but if it
was good enough for the Beatles, it’s good enough for me). That brings us to
$89,132.
If the third car were running, and gaining revenue at the
same rate, we could add $29,710. But the third car is not running yet.
So even giving generous margins for error, our first-year
total will be…$118,842.
Still seems a little short to me.
Maybe it’s a rounding error.
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