City Council remains coy during this election year
on sale of asset owned by taxpayers
on sale of asset owned by taxpayers
Really, do politicians think we are stupid enough to stand for paying $475 million in higher water rates for assets we already own?
For months now, COAST has been questioning the proposal by City Manager Dohoney to transfer the assets of the Cincinnati Waterworks to a new Regional Water District, and charge the new entity and its ratepayers (that’s us!) $475 million for the asset transfer. City Council members remain coy about whether they will approve the plan.
The NAACP and the municipal workers labor union – AFSCME – have gathered enough signatures to force the asset transfer to a public vote.
COAST has not yet taken a formal position on the Waterworks Petition, but is deeply skeptical of charging ratepayers $475 million for something they already own, and entrusting our entirely untrustworthy Council with that kind of additional money.
City manager Milton Dohoney admitted in a speech in June before the NAACP that the City is pursuing the plan simply “because we need the money.” COAST gently suggests maybe stopping its profligate waste of tax resources might be a better approach.
COAST will take a formal position about endorsing the Waterworks proposal at its September endorsement meeting. All COAST members (paid memberships) will be polled before such endorsement.
"Why would we pay $475 million for something we already own?"
ReplyDeleteYou don't already own it. Only the city residents own the water works. Residents of the rest of the county, as well as northern Kentucky, and Warren, Clermont, & Butler counties will be buying interest in the water works from the city, in exchange for representation on the board of the water district (Which they don't currently have).
Cincinnati City residents and businesses will enjoy a discounted rate on water provided by this new district through the lifespan of the sale.
The proposal is to sell an interest in the water works from the city, which built it, to the rest of region, which uses it and has a vested interest in it.
The debate should be about these facts, and not about some manufactured B.S. claim that your organization makes up.