Cincinnati — Streetcar Funding Outlined

Rail Transit Online, November 2007

The city council on Oct. 24 voted 8-1 to support continued study of a modern streetcar starter line using a circuitous 3.9-mi (6.3 km) route between downtown and the Over-the-Rhine neighborhood.  The resolution instructed the mayor to develop capital costs and potential funding for the project, which a preliminary analysis found would have a price tag of around $102 million.  A report from the mayor is due in November.  On Oct. 16, City Manager Milton Dohoney and City Architect Michael Moore told the council’s Economic Development Committee they envision tapping six local public and private funding sources for the streetcar, including tax increment financing bonds, the city's capital improvements fund and Blue Ash Airport revenues.  The committee voted unanimously to support the plan after a fervent plea from Dohoney.  “We need to seize the momentum when we have it, and we have it now,” he said.   A report prepared for council members estimated that the city would receive $1.4 billion in economic benefit from the line.  The starter segment would open in 2010 and serve up to 5,600 daily riders.  Future extensions could be added to southern Kentucky and neighborhoods surrounding the University of Cincinnati.