Day: May 11, 2010
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.”