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Cincinnati Streetcar Info

Cincinnati Streetcar Info

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Published by Derek Bauman
Cincinnati Streetcar Info
Cincinnati Streetcar Info

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Published by: Derek Bauman on Apr 25, 2013
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04/25/2013

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GROWTH*The streetcar will mean new homes, new residents, newtaxpayers, new business for local merchants, new jobs -- exactlywhat we need to pay for police and fire and streets and all theneighborhood improvements that we want.We cannot cut our way to prosperity. Halting this projectto save money now would kill the potential for Cincinnati to reapfrom hundreds of millions more in returns.Do not be blinded by the short-term view. This is a long-term investment with long-term payback.*This project is an investment in the future of Cincinnati. All the evidence shows rail transit is a powerful tool to attractpermanent growth. No opponent of this project can point to anyplace where streetcars have failed to raise property values andfuel local economic activity far greater than the cost of buildingthe system*The Economic Benefit/Cost performed in 2007 foundthat the Net Present Value of the project (the project's $315million of lifetime benefits minus its $115 million in constructionand operating costs) was $200 million in higher property values.Those benefits are worth more now, so even if we spend another $17 million, we still be far ahead, even by the most conservativecalculation.*The streetcar promotes job growth by attracting moreresidents and homeowners into the city in a relatively compactamount of space. Residents spend money on goods andservices close to where they live, so the more people move tothe streetcar zone, the more hiring by local businesses.Washington Park is drawing visitors to festivals, familyevents and concerts. It is surrounded by new restaurants and
 
new homes. Can that revival continue without the streetcar? TheBanks and the casino also stand to benefit from better transitoptions.The Gateway Quarter and Main Street are booming withwith new residents, new restaurants and new jobs. The newresidential buildings are drawing suburbanites who previouslyspent most of their dining dollars outside the city. Condodevelopments are happening all over Over-the-Rhine and we'reattracting new capital from outside markets. Without thestreetcar, that growing demand stops -- and with it the revenuethat growth brings to city coffers.Between 1995 and 2004, the City of Cincinnati investedmore than $18 million to revitalize Findlay Market. Naysayerssneered at that investment and called it a waste. Now the markethouse is 100 percent occupied, and a linchpin for OTRredevelopment.PARKINGFindlay Market and the development district around itneeds the streetcar to keep growing without building moreparking. At some point, residential growth in downtown and Over-the-Rhine will make parking very difficult without tearing downmore of the very buildings the city needs to preserve.*On average, Cincinnatians report spending an averageof $9,000 per year on their cars. Very little of that ends up in thelocal economy. People who can live and work in a city withoutowning a car can spend that $9,000 on housing and localpurchases.COMPETITION
 
We are in a highly competitive marketplace that demandsinvestment to win. We are in a battle with against Tampa andSavannah and St. Louis and Indianapolis and a hundred other cities that are racing to build or expand modern streetcars.*Modern streetcars are a strong, permanent anchor for thekind of liveable community that the 21st century workforceprefers. In the battle to halt the brain drain and attract new talent,a streetcar system is a major advantage.Currently we are the 27
th
largest metropolis in the countryand one of three that do not have rail infrastructure inside their urban core. The other two are Kansas City and San Antonio --and both are working on streetcar proposals right now.*A large proportion of the 21st Century workforce prefersa home where they can live without owning a car.Cintrifuse, the business community's largest innovationinvestment in our history, decided to build its headquarters, onVine Street, and on the streetcar route. Businesses understandreturn on investment. In chosing this location, they're betting thatplace matters when spawning new ideas and creating newcompanies.REPUTATIONNo American city has ever abandoned a modern railproject once construction has begun. Doing so would harm our city greatly. Our hard-won momentum would be lost for a longtime.Walking away from this project would have terriblerepercussions. It would label us as a city that cannot commit to along-term vision or fulfill long-term commitments.If we fail to finish the streetcar, the people who awardfederal grants as well as the people who decide where to invest

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