Tampa's streetcar running into financial trouble - WFLA News Channel 8

Tampa's streetcar running into financial trouble

Posted: Updated:
TAMPA, FL (WFLA) -

Tampa's streetcar line appears to be heading for a financial crash.

Thursday streetcar board members discussed a failing endowment fund that is used to pay for operations.

The endowment fund was originally established onto to support long term operational shortfalls.

The endowment was designed to last until the year 2025, now it appears likely it will run out of money by the end of 2014.

Tampa City Council member Mike Suarez sits on the streetcar board and says there are a number of reasons for the problems.

Suarez says, "we've had to reduce service in order to make our budget every year. By reducing service, you reduce your ridership. We've also had to increase rates people pay to get on there, which also creates less ridership."

The streetcar board says a downturn in the economy that started in 2007 also significantly depleted the fund.

Suarez says if the streetcar line closes, the city of Tampa will have to repay 31-million dollars to the federal government that was used for construction.

Suarez says, "Until we find a way of funding it from another source instead besides just the endowment and some of the assessments from the money we get from the port and the city, we're never going to be a successful streetcar system."

  • 8 On Your SideMore>>

  • Bradenton apartment complex to be repaired after 8 on your side report

    Bradenton apartment complex to be repaired after 8 on your side report

    Friday, August 22 2014 1:27 PM EDT2014-08-22 17:27:02 GMT
    Last week, 8 on your side showed you some of the dilapidated conditions inside some units at the Townhouse Park Apartments in Bradenton.Tenants were having problems with mold and rodents.There was also water damage.
    Last week, 8 on your side showed you some of the dilapidated conditions inside some units at the Townhouse Park Apartments in Bradenton.Tenants were having problems with mold and rodents.There was also water damage.
  • 2.2 million bean bag chairs recalled after deaths

    2.2 million bean bag chairs recalled after deaths

    Friday, August 22 2014 11:01 AM EDT2014-08-22 15:01:24 GMT
    About 2.2 million bean bag chairs are being recalled after two children opened them, crawled inside and suffocated to death. CPSC photoAbout 2.2 million bean bag chairs are being recalled after two children opened them, crawled inside and suffocated to death. CPSC photo
    About 2.2 million bean bag chairs are being recalled after two children opened them, crawled inside and suffocated to death.
    About 2.2 million bean bag chairs are being recalled after two children opened them, crawled inside and suffocated to death.
  • TPD claims training stories fell short

    TPD claims training stories fell short

    Thursday, August 21 2014 5:12 PM EDT2014-08-21 21:12:02 GMT
    The Tampa police department is responding to an 8 On Your Side investigation into a January shooting.The police contend the reports were incomplete and contained errors.The stories focused on a January 9th police shooting in Tampa and the lack of crisis intervention team training at T.P.D.
    The Tampa police department is responding to an 8 On Your Side investigation into a January shooting.The police contend the reports were incomplete and contained errors.The stories focused on a January 9th police shooting in Tampa and the lack of crisis intervention team training at T.P.D.
  • Most Popular StoriesMost Popular StoriesMore>>

  • Haircuts for the Homeless

    Haircuts for the Homeless

    Wednesday, August 20 2014 11:38 AM EDT2014-08-20 15:38:55 GMT
    On his days off, stylist Mark Bustos gives free haircuts to the homeless of New York City. Here are some of the transformations.
    On his days off, stylist Mark Bustos gives free haircuts to the homeless of New York City. Here are some of the transformations.
  • Police: Couple wanted 2 Amish girls for slaves

    Police: Couple wanted 2 Amish girls for slaves

    Friday, August 22 2014 2:14 AM EDT2014-08-22 06:14:19 GMT
    An investigator says a northern New York couple kidnapped two Amish sisters from their family farm stand with a plan to turn them into slaves but released them after becoming frightened by news reports.
    A northern New York couple kidnapped two Amish sisters from their family farm stand and planned to turn them into slaves, but released them after becoming frightened by news reports, an investigator said.
  • 59 Arrested By Greenville Police In Latest Prostitution Sting

    59 Arrested By Greenville Police In Latest Prostitution Sting

    Tuesday, August 19 2014 9:30 PM EDT2014-08-20 01:30:28 GMT
    Greenville Police released information Tuesday that 59 people were arrested in a four day long prostitution sting.
    Greenville Police released information Tuesday that 59 people were arrested in a four day long prostitution sting.
Powered by WorldNow

200 South Parker Street, Tampa, FL 33606

Telephone: 813.228.8888
Fax: 813.225.2770
Email: news@wfla.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.