Cincinnati City Council's
Budget
& Finance Committee voted 6-2 to approve $64 million in bonds
for the city's proposed streetcar system on Monday, May 10th. The move
is the first bold commitment from City Hall in terms of financing for
the project to date, and is seen as a strong signal to the Federal
government that there is local support for the project.
"This
project can help us grow our tax base without growing our tax rate,"
described Brad Thomas, founder of
CincyStreetcar.com.
"The approval of these bonds will send a clear message to Washington
D.C. that Cincinnati is serious about this project, and will strongly
position Cincinnati for the next two rounds of Federal funds."

Specifically, the vote approved three separate bonds that
were made up of $11 million from the Blue Ash Airport sale proceeds,
$28 million from General Capital sources and $25 million from Tax
Increment Financing (TIF) sources. The General Capital and TIF bonds
were strengthened with proceeds from the sale of the Blue Ash Airport.
Beyond the technical proceedings, several young people spoke about the
future benefits the project will have on the city and its citizen's
quality of life.
"I'm really excited about what I'm seeing in
this city, and I'm very excited about the prospect of urban living and
more transportation options," said Xavier University student Adam
Clark. "It's very important that we provide these options, and I'm
looking forward to riding the streetcar soon."
During Council's
deliberations, Council member Jeff Berding asked Cincinnati Budget
Director if the Blue Ash Airport sale proceeds could legally be used for
cover the City's pension fund or close the City's Operation Budget
deficit. The City's Budget Director proceeded to give a direct and
clear message that those funds could not be legally used for the City's
pension.
The meeting heard 10 public comments that ranged
from local entrepreneurs, students and residents in support of the
Cincinnati Streetcar project. Tim Mara, a lawyer
representing Citizens Opposed to Additional Spending & Taxes (COAST)
member Mark Miller, was the one public comment in opposition to the
project and threatened a lawsuit against Council member Chris Bortz
should he vote on the issue. On April 19, 2010, City Council
voted to approve $2.6 million in bonds for the
project and had 29 public comments in favor of the Cincinnati Streetcar
project with just three in opposition.
The meeting was once again
defined by the participation of young people in the political process
with several of the public comments coming from young professionals and
students alike.
"This has been one of the single issues that has
involved a diverse group of people, and has involved more young people
in the decision making process in the future of Cincinnati," Council
member Laketa Cole stated. "People always ask me where the young people
are, and I can say that young people have been up in the front on this
issue from day one making their voices heard. That is something I'm
excited about."
Chris Bortz, Jeff Berding, Roxanne Qualls, Laure
Quinlivan, Cecil Thomas and Laketa Cole voted in favor of approving $64
million in bonds while Chris Monzel and Charlie Winburn voted in
opposition. Leslie Ghiz was not present. The vote will go to the full
City Council meeting on Wednesday, May 5th for a final vote where it is
expected to pass by a similar vote.
Writer:
Randy A. SimesStay
connected by following Randy on Twitter
@UrbanCincy