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Quincy City Council approves $750K loan for Transit Lines

Quincy City Council approves $750K loan for Transit Lines

6 years, 9 months ago by Scott Hardy

Money will keep Transit Lines running

The Quincy City Council has approved a $750,000 short-term loan to keep the city's Transit Lines open. Scott Hardy has more.

( Audio  1:02 )

The Council approved the request Monday night from Transit Lines head Marty Stegeman for the loan, from the City's Cash Reserve Fund. Stegeman says the loan will be paid back once the city receives funding from the Federal and State governments. He adds that he has to ask for the money each year, because the city's Fiscal Year starts before the State and Federal Government's does.

( Marty Stegeman :18 )

Stegeman says that Federal and State funds pay for over 90 per cent of the Transit Lines' budget, and that next year, the wait time for those funds should be shorter, thanks to the Illinois General Assembly.

( Marty Stegeman :12 )

Stegeman says that process will start July 1st, 2018.

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