Weekend update: Pronto muddles on.
The Seattle Bike Blog has a long Pronto update here, including a look at its financials.
In other words, the proposed $1.4 million is a buyout, since the city is purchasing assets (and getting a good deal as you will see below). But the $305,000 is a bailout, a cash injection to keep the system afloat.
In addition, Crosscut has a piece today.
1) In an editorial, The Seattle Times suggests we wish Pronto off on the Eastside.
It probably won’t work there, either, the Times seems to say, but maybe they’ll give us money for it.
2) Over at Publicola, Josh Feit reveals Seattle, which is considering spending $1.4 million to rescue Pronto, just (quietly) spent nearly a third of a million dollars on it.
The city has already spent $305,000 to keep Pronto afloat through February. SDOT went ahead and gave $65,000 to Pronto last December and $240,000 this year so Pronto could pay its vendor contract.