I don't know how it could be made any clearer than this but here it is, from the City Manager,
The operating budget contains no line item money for streetcar, and even if it were not being built the deficit would still be $58.7 million.
If the streetcar isn't built, then the money doesn't exist.
From CincyStreetcar Blog,
On November 24th City Council passed an amendment to the Zoning Code to support higher density redevelopment around the Cincinnati Streetcar route. The amendment allows for the Parking Director to approve a 50% reduction in the required number of parking spaces for residential units along the streetcar line. If, following the reduction, the building would be required to have fewer than three parking spaces, then no parking spaces need to be required.
The Cincinnati median family income is $37,543, so half the families earn less than that, even an $100 a month would make a huge difference. AAA estimates it costs $400 a month to own a car, and we paid $15,000 for a parking spot which comes out to $75 a month. Now, if a 1,000 people downtown/OTR don't need a car or a second car that's $475,000 a month dumped directly into the local economy. So your question, where is the money going to come from to operate the streetcar, what's the ROI?
Right there, $5.7 million a year injected into the downtown economy where 57% of the tax base for the entire city comes from.
That doesn't even take into account the additional development investments from building the condos, bars and restaurants along the route.
I caution politicians, do not cave into the vocal minority of people, the leaders of which don't even live in the city. They are clinging to a maniacally strict adherence to an obsolete mindset and their vision for the future of Cincinnati is not only stunning in it's lack of imagination but is equally stunning for its horrifying lack of any kind of reason.
This has me thinking too, remember the haters who said the Art Academy move to OTR would be a total failure?
And the haters who said the new Fountain Square would be a complete waste of money and a failure?
Yeah look how that turned out.[where: 45202]best place to learn how to live downtown cincinnati ohio the ethos of Cincinnati