On November 24th City Council passed an amendment to the Zoning Code to support higher density redevelopment around the Cincinnati Streetcar route. The amendment allows for the Planning Director to approve a 50% reduction in the required number of parking spaces for residential units along the streetcar line. If, following the reduction, the building would be required to have fewer than three parking spaces, then no parking spaces need to be required.
This zoning amendment, along with other zoning changes like the creation of the Urban Mixed district in the Brewery District (which allows a mix of higher-density uses) will help ensure that our investment in the streetcar will reach its full redevelopment potential. Higher residential densities mean more people will be able to move into the urban core. The increased income taxes from these new residents will benefit all of Cincinnati’s 52 neighborhoods. Rising property taxes will mean more funding for Cincinnati Public Schools, and greater sales taxes will help Hamilton County’s bottom line.
This year, as in years past, Cincinnati is faced with an Operating Budget deficit (the part of the budget that pays for Fire, Police and City Employee’s salaries). Building the streetcar won’t use funds from the Operating Budget, but the economic growth and redevelopment strategies the City of Cincinnati is pursuing—including the streetcar, the Banks, the Casino and the investments being made in Uptown—will help grow our city’s revenue sources and help us avoid the chronic budget deficits that plague our City. Economic development and growth is vital to the future success of our region. The Cincinnati Streetcar is one important project that will help create jobs for Cincinnati and tie together development throughout our urban core. Support our City’s Future—Support the Cincinnati Streetcar.