The Loop Trolley Company was thrown a much-needed lifeline when it received a $90,000 loan that will keep the maligned trolley on track through the end of the year.
The loan came from the Loop Trolley Transportation Development District, the same entity which provided sales revenue to help with the original construction of the project. But the needed influx of cash wasn’t the only good news for the Trolley this week.
The Bi-State Development Agency is said to be looking at the viability of the project and how the agency might be a part of a long-term solution. The possibility of Bi-State, who operates the Metro and Metrolink system in Illinois and Missouri, completely taking over the trolley project appears to be one option on the table.
“We are grateful to Bi-State and the members of the Loop Trolley Transportation Development District Board for committing to work together to preserve this valuable asset and we look forward to assisting them in any way we can,” Loop Trolley Company President John Meyer said. “We are thrilled to be able to continue running the Trolley through the upcoming holiday season and we welcome all riders.”
Officials with the Loop Trolley Company, including Meyer, have been the rounds lately looking to garner additional financial support that they claim is needed to keep the $50+ million project afloat. Last month, the St. Louis County Council passed a resolution asking federal officials to audit the Loop Trolley Company accusing its leaders of mismanagement.