Is there a capital project or an "economic development" project you are so in love with that the cost-benefit analysis is utterly irrelevant?Of course not. We are not talking about saving lives or Western Civilization. We are addressing the expenditure of scarce tax dollars to leverage a greater level of development for jobs and yet other capital projects.
So, the careful analysis of the ROI for each capital dollar spent should be the yardstick for approving those expenditures. Should be.
Thus, we watch in awe as today it is reported that the utility relocation costs associated with the "next mile" of Cincinnati Streetcar track and yet Streetcar supporters are massing for yet another public hearing demanding that City Council continue the spending to expand the Streetcar route into Uptown.
Now, all of this is entirely predictable: All of the cost estimates, warning bells, overruns, alarms, headlines and data from other jurisdictions were unheeded as they plowed forward with Streetcar Phases 1 and 1A. And, even Council supporters conceded when the Downtown route was approved that there was no reason to build the Riverfront-to-Findlay Market leg unless we intended to run the Streetcar to and around uptown.
We are blessed, however, that consistently Mayor John Cranley has been throwing cold water on these unfunded pipe dreams. He, the voice of reason at City Hall, has consistently opposed Streetcar funding.
So, read today's latest from the Enquirer on the Streetcar. We watch in awe as the out-of-touch tax and spenders try to plow forward in fiscal irresponsibility.
It is a sight to behold!