The city of Cincinnati is scrambling to cover the difference on a shortfall of funding from a voluntary tax incentive contribution agreement (VTICA) system set up to support the Cincinnati Bell Connector.
Chris Wetterich reports on funding questions for the Cincinnati Bell Connector streetcar, as one funding source in particular lags behind projections. The voluntary tax incentive contribution agreement (VTICA) asks "developers to donate to the streetcar’s operations some of the savings they would receive from property tax abatements for constructing new buildings and renovating old ones," according to Wetterich.
"But VTICA has lagged and council is now left to figure out how to avoid spending down a surplus in the streetcar operations fund over the next two years while VTICA theoretically catches up," reports Wetterich. The city will receive $130,000 from VTICA in 2019, after projecting it would receive $524,000. A surplus generated by an infusion of parking revenue in 2015 will soon be exhausted. If the VTICA doesn't pick up soon, the streetcar will be about $428,000 in the red by 2020.
The article includes more detail on how the city overestimated VTICA revenue projections, and what it will possibly do as a result of the budgetary shortfall—options range from budget cuts to free rides.
FULL STORY: City Council struggles with streetcar budget as revenue source lags
Cincinnati Streetcar Sets Monthly Ridership Record
The Cincinnati Streetcar, now known as the Cincinnati Connector, has come so far.
$1.5 Billion Awarded for Transportation Projects, Including $100 Million to Remove a Detroit Freeway
The latest round of federal infrastructure funding includes the largest contribution to emerge, so far, from the 2021 infrastructure bill for the removal of an urban freeway.
Two Bridges Across the Ohio River in Cincinnati Closed on the Same Day
Two of the transportation connections between Ohio and Kentucky in the Cincinnati metropolitan area were closed on the same day, leaving one side of the Ohio River cut off from the other.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.
Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.
Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.
MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.
Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
City of Fort Worth
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie