The Cincinnati Streetcar Project needs more money, officials say. A memo written by City Manager Milton Dohoney Jr. was sent to City Council on Tuesday, revealing that the streetcar project will need more thanMore >
Vice Mayor Roxanne Qualls has scheduled a public hearing on the status of the Cincinnati streetcar project for April 29. The hearing will take place at 6 p.m. in City Council chambers.More >
Tuesday, April 30 2013 8:38 PM EDT2013-05-01 00:38:17 GMT
Mayor Mark Mallory held a round-table meeting Tuesday to discuss the benefits of the city's halted parking plan and to clear up perceived misconceptions about the plan. The Mayor and Administration argueMore >
Mayor Mark Mallory held a round-table meeting Tuesday to discuss the benefits of the city's halted parking plan and to clear up perceived misconceptions.More >
Monday, April 29 2013 11:20 PM EDT2013-04-30 03:20:47 GMT
It was a packed house Monday night at a public hearing designed to get some answers about the troubled downtown streetcar project. Vice Mayor Roxanne Qualls called the hearing hoping to get an updateMore >
It was a packed house Monday night at a public hearing designed to get some answers about the troubled downtown streetcar project. Vice Mayor Roxanne Qualls called the hearing hoping to get an update on the status on the much-delayed project.More >
Tuesday, April 23 2013 7:50 PM EDT2013-04-23 23:50:56 GMT
As Cincinnati's administration works to find $17.5 million to plug the streetcar project's budget gap, FOX19 has confirmed one potential funding source to save the project is off the table. Currently,More >
As Cincinnati's administration works to find $17.5 million dollars to plug the streetcar project's budget gap, FOX19 has confirmed one potential funding source to save the project is off the table.More >
Wednesday, April 17 2013 7:33 PM EDT2013-04-17 23:33:06 GMT
The outcome of the Cincinnati Streetcar Project could have an impact on the Cincinnati mayoral race. Mayoral candidate John Cranley held a news conference on Wednesday to renew his opposition for theMore >
The outcome of the Cincinnati Streetcar Project could have an impact on the Cincinnati mayoral race. Mayoral candidate John Cranley renewed his opposition Wed, while his opponent Roxanne Qualls in support.More >
CINCINNATI, OH (FOX19) -
Cincinnati officials released a plan to pay for the over-budget streetcar project on Tuesday, details many have been waiting for since mid-February.
The project is facing a $17.4 million gap.
In a memo sent to Mayor Mallory and members of council, City Manager Milton Dohoney presented multiple funding options.
Mainly, recommending a combination of funding sources:
$6.5 million from funds connected to projects around the Cincinnati Horseshoe Casino site.
$5.4 million from money originally set aside for the Music Hall project, which won't be needed until 2016.
$400,000 from money already budgeted for traffic signal replacement and improvements.
$500,000 from Cincinnati Water Works, which would help pay for water main work associated with the streetcar project.
Remaining $4.6 million from issuing General Capital debt, which would reduce money available to pay for economic development and housing projects by 3% over the next 20 years.
While not included in the project, Dohoney also highlighted future funding that could come available, such as money placed in escrow, while a judge decides which party will pay to relocate utilities around the streetcar.
FOX19 spoke to several city council members about the memo, and some of them are still split on the idea of building this streetcar in Cincinnati.
"I don't think that just from my first glance there's enough that makes sense to me that adds up to $17.4 million. But, I'm absolutely willing to go through each line item that's recommended and see if we can find a way to fund the additional money," said council member Chris Seelbach.
Seelbach says he doesn't want to lose this project, and the federal dollars and other financial obligations that are attached to the project. Alongside him is council member Yvette Simpson. After a meeting Monday night showing the costs of moving the project forward, or scrapping it, her mind is made up.
"I think we need to move forward with it. I think the most stark number that was presented yesterday was the $72 million that we would lose based on our original investment and returning funds from the federal government, and the $17 million that is required to get to the construction phase," said Simpson.
But it's not so easy for other council members like Chris Smitherman. He says no to the project, citing a project that has soared in cost.
"There are no viable options here. The reality here is that we can't afford the streetcar. That's where I am that they sold us to the voters $110 million and we're now at 133," Smitherman told FOX19.
Smitherman added there are other capital projects around the city that need attention before a streetcar.
As for the more than $4 million in debt potentially created under this plan, Milton Dohoney says in the memo this would impact economic development or housing projects. But, he says the tradeoff is that this streetcar is an economic development project that will promote small business creation and new residences.
City council still needs to approve the plan. The next meeting for the Budget and Finance Committee is set for May 13.
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Monday, July 28 2014 6:59 PM EDT2014-07-28 22:59:54 GMT
Neighbors struggled to make sense of the shooting deaths of a family of five in which the father was known to many throughout their apartment complex as a friendly maintenance worker.More >
A maintenance worker with financial problems killed his wife and three children with a shotgun, then committed suicide, over the weekend in what state police called one of the worst cases of domestic violence in Maine...More >