Topeka Metro: Bike Share program lost $1.1 million
TOPEKA, Kan. (WIBW) - Topeka Metro says their bike share program lost over a million dollars in its six year existence.
The program, which began in 2015, is set to end at the end of July. Since then, it brought over $470,000 of revenue in. But, it cost nearly $1.6 million to operate over that span of time.
In all, the program created a deficit of $1,128,544.
The program was reducing the gap between revenue and expense as the years went on, but the COVID-19 pandemic caused issues in finding partners to operate it - and ultimately led to the vote to end it.
Topeka Metro said they were proud to be the first bike share program in Kansas, and thanked bike share members and staff. They also thanked Capitol Federal for sponsoring the program.
“We thank Capitol Federal for their generosity in sponsoring TMB, and we also thank those who were loyal TMB members, as well as our TMB staff, who were very hardworking and passionate about Topeka’s bike share program,” Topeka Metro GM Bob Nugent said.
Capitol Federal told 13 NEWS they were disappointed the program was gone, but “are proud of the positive impact the bike share program made to improve both the quality of life in Topeka and enhancements of Topeka’s transportation options.”
Copyright 2020 WIBW. All rights reserved.