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Twin Cities transit: The B Line replaces the Route 21 on Saturday

Twin Cities transit: The B Line replaces the Route 21 on Saturday

Yahoo12-06-2025
After decades of transporting passengers from the Uptown neighborhood of Minneapolis to downtown St. Paul, the slow but storied Route 21 bus will be discontinued this month and replaced by a new bus rapid transit service that travels intermittently in its own lane, allows passengers to pay in advance and offers boarding from three doors.
With 34 stops instead of 90 and a more direct trajectory, Metro Transit's new B Line is expected to shave time off end-to-end commutes while cementing the public transit authority's commitment to its growing network of bus rapid transit corridors.
The Route 21 is Metro Transit's most popular yet slowest bus, drawing 7,000 average weekday riders along the corridor while traveling at some eight miles per hour.
'BRT is all about less stop and more go,' said Katie Roth, Metro Transit's Arterial Bus Rapid Transit project manager.
The first B Line bus will roll out at 4 a.m. Saturday, absorbing passengers from the Route 21 at 42 new bus shelters equipped with electronic real-time signage, bike racks and other amenities.
The B Line, which follows Lake Street and Marshall and Selby avenues before entering downtown St. Paul, will collect riders from curbs that, in many cases, have been elevated to nine inches, instead of the standard six inches, for easier boarding and dismounting.
Those and other touches, including more frequent departures and traffic lights that in some cases communicate with buses to offer signal priority, are intended to speed boarding and improve overall quality of service compared to the Route 21, reducing end-to-end commutes — Lake Street and France Avenue to the St. Paul Union Depot — from 76 minutes down to 64 minutes, and Uptown to downtown travel times from 64 to 52 minutes.
B Line fares on Saturday will be free from 8 a.m. to 10 p.m., courtesy of Midtown Global Market. Community celebrations, featuring snacks, a Metro Transit mascot and kid tables, are planned from 11 a.m. to 2 p.m. at the downtown St. Paul Union Depot and the Lake Street and Chicago Avenue station.
Roth noted that 100,000 people living within walking distance of the line, which will service a sizable number of colleges and high schools, including Concordia University, Central High School and St. Paul College.
Not all of the B Line's 34 stops mirror those of the Route 21. Unlike the Route 21, the B Line will bypass University Avenue completely, with only a single stop on Snelling Avenue at Snelling and Dayton avenues.
To fill in the gap in the Midway, Metro Transit is launching a new Route 72, which will travel between the Snelling/University area and the SunRay Transit Center on St. Paul's East Side. In Minneapolis, a new Route 27 will service South Minneapolis around Lake Street and Abbott Northwestern Hospital.
In downtown St. Paul, the B Line will share six stops with the Gold Line at the Smith Avenue ramp at Fifth Street, Sixth and Washington streets by Rice Park, Sixth and Minnesota streets, Sixth and Jackson streets, the Union Depot and Wacouta Street, and within the Union Depot station itself.
The B Line marks Metro Transit's seventh bus rapid transit service in the Twin Cities metro, and the second of three BRT lines launching this year. The Gold Line began service from downtown St. Paul to Woodbury in March, and the E Line begins service from Westgate Station on University Avenue to the Southdale Transit Center in Edina in December. By 2035, Metro Transit anticipates having 15 BRT lines in operation.
Funding for the B Line design and construction totaled approximately $74 million, including some $16 million from the Federal Transit Administration, $43 million from the state and approximately $15 million from the Metropolitan Council. St. Paul, Minneapolis, Hennepin and Ramsey counties contributed more than $25 million in additional corridor improvements, including resurfacing some 31 lane miles along Lagoon Avenue and Lake Street in Minneapolis.
Construction of the B Line shelters, lanes and other amenities began in 2023, connecting the corridor with 42 new BRT platforms, 236 ADA-accessible pedestrian ramps and 12 miles of underground fiber optic cabling. An operator restroom has been installed at the Lake and France end of the line.
Due to unrelated construction on Interstate 94 this year, a temporary westbound bus lane has been installed on Marshall Avenue between Wilder and Cretin avenues, eliminating access to 40 parking spots between 7 a.m. and 6 p.m. weekdays.
The temporary measure is in response to changes in traffic patterns, but will be lifted before the end of the year, according to Metro Transit. Some building owners have complained they received late written notice of the changes, which arrived on Monday, even though they take effect this week.
• The B Line travels 13 miles from France Avenue and Lake Street in St. Louis Park to the downtown St. Paul Union Depot off Fourth Street.
• Serving 34 stations, some of which are shared in St. Paul with the new Gold Line to Woodbury.
• It had a $74 million design and construction budget.
• B Line buses will travel in dedicated bus lanes on intermittent portions of Lake Street and Lagoon and Marshall Avenues, and in downtown St. Paul. Most of the bus-only lanes are westbound.
• The B Line is Metro Transit's seventh bus rapid transit service and the second of three BRT lines launching this year.
For more information, visit MetroTransit.org.
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Metro Transit seeks feedback by Friday on 17 potential BRT routes
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States where residents could see the biggest tax benefit from Trump's 'big beautiful bill'
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States where residents could see the biggest tax benefit from Trump's 'big beautiful bill'

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Venu Holding Corporation Reports Second Quarter 2025 Financial Results
Venu Holding Corporation Reports Second Quarter 2025 Financial Results

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time2 days ago

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Venu Holding Corporation Reports Second Quarter 2025 Financial Results

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Behind the scenes, we are stacking our roster, scaling smarter, forging game-changing alliances, developing next-gen revenue models, and doing whatever it takes. What's coming next will shatter expectations and redefine the industry as we know it. Here we go!' Financial Highlights for the Second Quarter of 2025 and the Six-Month Period Ended June 30, 2025 Total assets increased to $242.0 million, up $63.6 million or 36%, as of June 30, 2025, from $178.4 million at December 31, 2024. Property and equipment increased to $199.2 million, up $62.0 million or 45%, as of June 30, 2025, from $137.2 million at December 31, 2024. Luxe FireSuite and Aikman Club sales reached $61.3 million through June 30, 2025, up $15.5 million or 34%, from $45.8 million from June 30, 2024. This included sales of Luxe FireSuites through traditional cash sales, fractional financing, and the start of triple-net lease interests in FireSuites, as well. Total revenue of $4,487,307 rose 7% or $312,069 for the three months ended June 30, 2025 compared to the three months ended June 30, 2024 of $4,175,238. The overall increase in the three months ended June 30, 2025 was primarily attributable to Ford Amphitheater being open in the three months ended June 30, 2025 compared to not yet being open for the three months ended June 30 2024. Amphitheater operations generated net revenue to Venu (defined as profit after Venu's split with AEG Presents Rocky Mountains, the operator of the amphitheater), with receipts from our naming rights agreements (which are outside of Venu's AEG partnership agreement), combined for $597,712 for the three months ended June 30, 2025. Over the 2025 season of 10 shows at Ford Amphitheater through June 30, 2025, this location generated gross receipts of $4.7 million. These gross receipts, which are inclusive of ticket sales, concessions, ticketing fees, premium upgrades, as well as other receipts, are subject to the split with AEG. The Ford Amphitheater had more than 35,000 attendees for the first 10 shows through June 30, 2025, with an average ticket price of $135. Operational Highlights for Q2 and Subsequent Events: May 2025 Kicked off the first full season of the Pollstar-nominated Ford Amphitheater in Colorado Springs, CO, completing the first 10 shows on the path to a full calendar outdoor concert season. June 2025 In partnership with the City of McKinney, the McKinney Economic Development Corporation, and the McKinney Community Development Corporation, held a grand groundbreaking ceremony for the ultra-lux 20,000-seat Sunset Amphitheater powered by EIGHT Elite Light Beer, marking a new area for live music in North Texas. The event featured a legendary song swap from some of Texas's most beloved singer-songwriters, Robert Earl Keen and Turnpike Troubadours' Evan Felker. Announced a three-year industry alliance with global music authority, Billboard, to spotlight our fan-founded, fan-owned model through high-profile collaborative industry experiences. At the forefront of the partnership is the newly minted 'Disruptor Award,' presented by VENU to honor artists, creators, and industry leaders with bold ideas shaping the future of music, inspired by VENU Founder, Chairman, and CEO, J.W. Roth. Formed a multi-venue partnership, including an equity investment in VENU with Aramark Sports + Entertainment, to deliver a market-leading standard for guest experiences across flagship amphitheaters in Oklahoma, Texas, and Colorado. 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Based on the early trajectory, the program is projected to deliver more than $100 million in additional annual capital. Conference Call Details About Venu Holding Corporation Venu Holding Corporation ("VENU") (NYSE American: VENU), founded by Colorado Springs entrepreneur J.W. Roth, is a premier hospitality and live music venue developer dedicated to building luxury, experience-driven entertainment destinations. VENU's campuses in Colorado Springs, Colorado, and Gainesville, Georgia, each feature Bourbon Brothers Smokehouse and Tavern, The Hall at Bourbon Brothers, and, unique to Colorado Springs, the more than 9,000-seat Ford Amphitheater and Roth's Sea and Steak. Expanding with new Sunset Amphitheaters in Oklahoma and Texas, VENU's upcoming large-scale venues will host between 12,500 and 20,000 guests, continuing VENU's vision of redefining the live entertainment experience. Click here for company overview. VENU has been recognized nationally by The Wall Street Journal, The New York Times, Denver Post, Billboard, VenuesNow, and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents and NFL Hall of Famer and Founder of EIGHT Elite Light Beer, Troy Aikman, VENU continues to shape the future of the entertainment landscape. For more information, visit VENU's website, Instagram, LinkedIn, or X. Forward Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including, without limitation, those set forth in the Company's filings and reports with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements, whether as a result of new information, future events, or otherwise, except as required by law. 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Current portion of long-term debt 337,938 2,101,501 Total current liabilities 14,280,946 24,529,456 Long-term portion of operating lease liabilities 842,775 1,020,604 Long-term licensing liability and other liabilities 8,483,056 7,950,000 Long-term convertible debt 2,990,175 - Long-term debt, net of current portion 41,480,226 14,100,217 Total liabilities $ 68,077,178 $ 47,600,277 Commitments and contingencies - See Note 14 Mezzanine Equity Contingently Redeemable Convertible Cumulative Series B Preferred Stock, $0.001 par-675 authorized, 675 issued and outstanding at June 30, 2025 $ 10,125,000 $ - Stockholders' Equity Preferred stock, $0.001 par - 5,000,000 authorized, none issued or outstanding - - Series A Preferred Stock, $0.001 par - 4,750,000 authorized, none issued outstanding at June 30, 2025 - - Common stock, $0.001 par - 144,000,000 authorized, 40,080,292 issued and outstanding at June 30, 2025 and 37,471,465 issued and outstanding at December 31, 2024 40,080 37,472 Class B common stock, $0.001 par - 1,000,000 authorized, 379,990 issued and outstanding at June 30, 2025 and December 31, 2024 379 379 Additional paid-in capital 168,490,516 144,546,368 $ 91,688,804 $ 97,223,011 Treasury Stock, at cost - 276,245 shares at June 30, 2025 and December 31, 2024 (1,500,076 ) (1,500,076 ) Total Venu Holding Corporation and subsidiaries equity $ 90,188,728 $ 95,722,935 Non-controlling interest 73,654,617 35,094,303 Total stockholders' equity $ 163,843,345 $ 130,817,238 Total liabilities and stockholders' equity $ 242,045,523 $ 178,417,515 Expand (in US Dollars) For the six months ended June 30, 2025 2024 Net loss $ (31,736,344 ) $ (21,085,184 ) Adjustments to reconcile net loss to net cash used in operating activities: Equity issued for interest on debt 291,680 229,400 Equity based compensation 13,024,382 3,255,506 Equity issued for services 277,900 7,000,000 Project abandonment loss - 668,402 Amortization of debt discount 2,332,923 1,134,815 Non cash lease expense 184,741 268,635 Depreciation and amortization 2,749,776 1,215,793 Noncash financing expense - 2,500,000 Non cash interest 496,583 - Changes in operating assets and liabilities: Inventories 31,166 (25,922 ) Prepaid expenses and other current assets (391,189 ) (28,097 ) Security deposit (25,250 ) 325,026 Accounts payable (2,781,721 ) 7,829,502 Accrued expenses 3,235,134 (142,528 ) Accrued payroll and payroll taxes (105,678 ) (98,149 ) Deferred revenue 360,730 506,378 Operating lease liabilities (185,469 ) (235,819 ) Licensing liabilities 756,389 2,800,000 Net cash used in operating activities (11,484,247 ) 6,117,758 Cash flows from investing activities Purchase of property and equipment (37,211,382 ) (31,259,314 ) Investment in EIGHT Brewing (1,999,999 ) - Investment in related party (5,262 ) - Cash acquired in acquisition of 13141 BP - 74,085 Net cash used in investing activities (39,216,643 ) (31,185,229 ) Cash flows from financing activities Proceeds from sale of non-controlling interest equity 24,454,237 22,895,000 Proceeds from issuance of Contingently Redeemable Convertible Cumulative Series B Preferred Stock 10,125,000 - 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Expand

Trump's ‘big beautiful bill' makes Roth conversions more complicated — here's what to know
Trump's ‘big beautiful bill' makes Roth conversions more complicated — here's what to know

CNBC

time2 days ago

  • CNBC

Trump's ‘big beautiful bill' makes Roth conversions more complicated — here's what to know

If you're eyeing a Roth conversion, President Donald Trump's "big beautiful bill" could make the strategy more complicated, according to financial experts. Roth conversions transfer pretax or nondeductible individual retirement account funds to a Roth IRA, which starts future tax-free growth. The trade-off is paying regular income taxes on the converted balance. Trump's new tax cuts could make Roth conversions more appealing for some investors, experts say. But incurring too much income could impact eligibility for certain tax breaks. More from Personal Finance:What to do with RMDs when you don't need the moneySocial Security COLA may be 2.7% in 2026: estimatesOlder student loan borrowers face high delinquency rates When weighing Roth conversions, you need to know the multi-year state and federal tax impact, said Judy Brown, a certified financial planner who works at SC&H Group in the Washington, D.C., and Baltimore area. For example, if you're nearing Medicare age or already enrolled, boosting your earnings could increase income-related monthly adjustment amounts, or IRMAA, for Medicare Part B and Part D premiums. The strategy is "looking at a lot of different pieces, and figuring out the optimal place for each client," said Brown, who is also a certified public accountant. Roth conversions have always been about "tax bracket management," said CFP Patrick Huey, owner of Victory Independent Planning in Portland, Oregon. When making Roth conversions, advisors typically incur enough regular income to "fill up the lowest brackets," he said. Your federal brackets are based on each part of your "taxable income," which you calculate by subtracting the greater of the standard or itemized deductions from your adjusted gross income. Before Trump enacted the One Big Beautiful Bill Act, lower federal income tax brackets were scheduled to sunset after 2025, which would have made converted balances more expensive. Trump's legislation made the lower tax rates permanent, but several new tax breaks — deductions for older Americans, tipped workers and consumers with overtime pay and car loan interest — are temporary with varying earnings limits. These tax breaks, which are available from 2025 through 2028, could offer more room for Roth conversions before hitting the next tax bracket, experts say. Once these cuts expire, you could be "paying more for the exact same Roth conversion," said CFP Ashton Lawrence at Mariner Wealth Advisors in Greenville, South Carolina. While Trump's new tax cuts could make more space in the lower tax brackets, higher income from Roth conversions can impact eligibility, experts say. For example, the additional $6,000 deduction for older Americans starts to phase out, or get smaller, once modified adjusted gross income exceeds $75,000 for single filers or $150,000 for married couples filing jointly. It probably still makes sense to convert funds at 22% or 24% tax rates now — and skip the $6,000 deduction — to avoid the 30% brackets for large pre-tax required withdrawals later, Brown said. Most retirees must take required minimum distributions, or RMDs, from pretax retirement accounts starting at age 73 or face an IRS penalty.

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