Water wins the day


  • By
  • | 11:00 a.m. March 24, 2017
  • | 0 Free Articles Remaining!
  • News
  • Share

One of the biggest “what ifs” when a group of Tampa Bay area officials launched a ferry service late last year was if — and when — it would make money.

The service answered that question within four months, recently announcing that it sent operating revenue back to the government partners that originally supported the six-month pilot project. The total surpassed $50,000 in February and late January, according to Tampa attorney Ed Turanchik, an adviser to the project, the Cross-Bay Ferry.

Under the operating contract, four governments originally funded the project. Those governments are the city of St. Petersburg; the city of Tampa; Hillsborough County; and Pinellas County. Once the ferry operator covered its management costs, money from ticket sales would reverse direction and start going back to the four governments, Turanchik says.

 

Continue reading your article
with a Business Observer subscription.
What's included:
  • ✓ Unlimited digital access to BusinessObserverFL.com
  • ✓ E-Newspaper app, digital replica of print edition
  • ✓ Mailed print newspaper every Friday (optional)
  • ✓ Newsletter of daily business news

Latest News

Sponsored Content