Could Private Donors Save Cincinnati's Streetcar?

There's hope yet that Cincinnati's embattled streetcar project might proceed after all. Mayor John Cranley, who campaigned on canceling the project, has announced he's willing to allow the project to proceed if the private sector pays to operate it.
December 12, 2013, 1pm PST | Jonathan Nettler | @nettsj
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"In a major shift in his position, Cincinnati Mayor John Cranley said Thursday that he would support completing the first phase of the streetcar if all of the annual operating costs for the next three decades are covered by fares, advertising and donations from the private sector," reports Chris Wetterich.

"Cranley confirmed that major players in Cincinnati, including corporations and foundations, are talking about ways to cover the operating costs, which are estimated to be up to $4.5 million a year before fares are factored in."

The city is under a Dec. 19 deadline to restart the paused project or forgo $45 million in federal funds.

“Nobody has suggested they have the money,” Cranley said at a news conference. “It’s a obviously a huge, huge hurdle to try to put this together in seven days.”

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Published on Thursday, December 12, 2013 in Cincinnati Business Courier
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