Sunday, January 6, 2013

Cranley: You don't start a major capital project without funding in place

Some voices of sanity are -- too late -- creeping in to the Streetcar debate, as just in the last few weeks the City has committed to buying the five Streetcar vehicles from a company in Spain. 

2013 Cincinnati Mayoral candidate 
John Cranley

However, in Friday's Business Courier speaking to reporter Dan Monk, former Vice Mayor of the CIty and 2013 Mayoral candidate John Cranley spoke some common sense -- that the City has no business proceeding with the Streetcar project without the funding in place

Cranley was specifically referring to the $18 million gap in funding for the Duke Energy line relocation costs.  In February, the PUCO will decide if Cincinnati ratepayers will pay a special tax on their utility bills to fund the costs that to date the City refuses to pay.  If PUCO says "No," the City will have to pony up the $18 million from its general fund -- money the City simply cannot afford.

Cranley likened the Streetcar project to Kenwood Towne Place, the rusting hulk of a building on I-71 that sat idle for more than three years because the developer ran out of cash to complete the project. 

The bottom line, however, is that the Bat Shit Crazy Council has committed to proceed with the project, is spending funds -- some $42 million to date, and will be building the Streetcar.  Nearly one year after the official groundbreaking, the City has made the contractual commitments to proceed with the project.

The other component of Streetcar funding that the City is counting on that may not materialize is more than $11 million from the sale of the Blue Ash Airport.  That transaction is subject to litigation being pursued by COAST's legal counsel, Chris Finney and Curt Hartman.

Make no mistake that this irresponsible Council "owns" this project. 

1 comment:

  1. We fully support the city on the streetcar. We need streetcars throughout Cincinnati and if we have to raise taxes to build them then we should do it. Don't worry about the money. Roxanne Qualls is right, the money will turn up one way or another.


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