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A recent receivership ruling and falling stock value cause Vicinity to be removed from the Nasdaq.
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As previously disclosed, the company was initially notified by Nasdaq on October 24, 2023 that the company was not in compliance with the Bid Price Requirement for a period of 30 consecutive business days.
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The financial plan reflects updates since the MTA warned of a fiscal cliff heading into 2023, with a projected $600 million deficit.
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The documents project the MTA fiscal cliff presented in February 2022 will occur in 2025, one year earlier than previously forecasted, with federal COVID-19 relief aid largely exhausted by 2024.
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The move will enable the agency to accelerate key capital projects in safety, advance key employee recruitment and retention initiatives, advance key investments in bus, and more.
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The June forecast, which Leeds staff discussed at a study session with the board, predicts that RTD’s finances could recover to pre-COVID-19 levels two years sooner than previously predicted — by 2023.
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