Fully Funded Streetcar to Break Ground in 2011, Operational 2013

From Mayor Mark Mallory:

Today was a great day for our Streetcar project.  The State recommended an additional $35 million for the first phase of the Streetcar.  We now have the full amount needed to complete the first phase.  In addition, the State also recommended $1.8 million for planning for the second phase of the project.

This is great news for Cincinnati.  The Streetcar project is going to help grow our city and improve our financial future.

Thank you for your continued support of this transformational project.

Happy Holidays.

Mayor Mark Mallory

From City Manager Milton Dohoney:

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I am very happy to report that today the Ohio Department of Transportation’s  (ODOT) Transportation Review Advisory Council (TRAC) unanimously recommended an award of $35 million for Phase 1 of the Cincinnati streetcar project.  This award brings the total amount of funding identified for the streetcar project to approximately $150 million. This provides all total capital project costs.  In addition, the TRAC also recommended an award of $1.8 million for planning and preliminary engineering for Phase 2 of the streetcar project.

Especially in light of the budget problems facing the city, I am convinced that we must use every economic development tool we can to bring residents, jobs, businesses – and tax revenue – to the city.  Together, the streetcar, casino, The Banks, 21c hotel, and other investments generate bigger returns that will stabilize and grow our local economy.  The streetcar alone has a $3 return for every $1 invested.

I’d like to thank ODOT Director Molitoris and the members of the TRAC for their commitment to Cincinnati’s streetcar project, in part, as a tool for economic development.

I also appreciate your ongoing support and hope you have a safe and happy holiday season.

Milton