ST. LOUIS (KMOX) – Operators of the yet-to-open Loop Trolley say they still have confidence in the project — despite a half-million dollar budget shortfall.
Blame the shortfall on construction cost overruns, says Les Sterman, president of the not-for-profit Loop Trolley Company that would operate the trains.
“Due to all the delays and other circumstances, some of which were beyond anybody’s control, we will not have sufficent monies to both start up the operation and keep it going for some period of time,” Sterman said.
Sterman says they’ll be asking St. Louis city and county, University -City and private donors for more money.
A spokesman for St. Louis County says the county has already given the project $3 million in taxpayer money, and they would encourage trolley operators to seek more funding elsewhere.