Not quite — anything you throw into the "public" folder gets served up by Apache normally.
I've taken a quick look at the application on GitHub (https://github.com/openplans/shareabouts), and I think that it'll work if you just put everything into the main domain directory (NOT in public), and rename "wsgi.py" to "passenger_wsgi.py".
HOWEVER, NOTE that this application has a number of dependencies listed in requirements.txt that aren't installed on our servers. You will need to set up a Python virtualenv and install those packages in there. See the Passenger WSGI page I linked above for details on how to configure that to be loaded by the passenger_wsgi.py file.