Streetcar construction schedule advances with Council items - Cincinnati News, Weather, Sports from FOX19 NOW-WXIX

Administration brings items to Council to advance streetcar project

CINCINNATI, OH (FOX19) -

The City of Cincinnati's Administration is bringing forward three pieces of legislation to the Budget and Finance Committee of Cincinnati City Council on Sept. 24. The three items will advance the streetcar construction schedule.

The first piece of legislation establishes a $15 million account. The City will used the funds to advance the work for the Duke Energy utilities until the City and Duke Energy can address who should pay for the relocation for Duke's electrical gas lines under city streets. Duke Energy agreed its utilities would only need to be moved three feet from the streetcar line instead of the original estimated eight feet.

The $15 million will come from a recent sale of land, which gave a total of $37 million. "It is not feasible to sit idle awaiting an outcome," said City Manager Milton Dohoney, Jr. The City expects to recover the $15 million after it is decided who is legally responsible to pay.

The Administration is also asking Council to change the source of funds for repaying $14 million of the $25 million in notes issued as part of the original financing proposal for the project. "This District was hit harder than other TIF Districts because of the decline in office lease rates within the district," said Finance Director Reginald Zeno.  "We will undergo a study to determine the current valuation of the Downtown South TIF, but because we need to issue the bonds, we will use this as the source in the interim."

The Administration will recommend a right-of-way ordinance after determining a legislation that clarifies rights and obligations for the control and management of the right of way would benefit the City and regulated utilities.

Copyright 2012 WXIX. All rights reserved.

 

  • FOX19 HeadlinesMore>>

  • San Francisco to consider tax on companies to help homeless

    San Francisco to consider tax on companies to help homeless

    Monday, July 16 2018 9:59 PM EDT2018-07-17 01:59:19 GMT
    Tuesday, July 17 2018 5:57 AM EDT2018-07-17 09:57:43 GMT
    (AP Photo/Eric Risberg, File). FILE - In this Feb. 23, 2016 file photo, a man stands outside his tent on Division Street in San Francisco. San Francisco voters will decide in November 2018 whether to tax large businesses to pay for homeless and housing...(AP Photo/Eric Risberg, File). FILE - In this Feb. 23, 2016 file photo, a man stands outside his tent on Division Street in San Francisco. San Francisco voters will decide in November 2018 whether to tax large businesses to pay for homeless and housing...

    Homelessness is a major problem in San Francisco, as well as other cities on the West Coast with growing numbers of high-paying tech jobs that price lower-income residents out of a shrinking housing supply. 

    Full Story >

    Homelessness is a major problem in San Francisco, as well as other cities on the West Coast with growing numbers of high-paying tech jobs that price lower-income residents out of a shrinking housing supply. 

    Full Story >
  • US arrests, accuses woman of acting as Russian agent

    US arrests, accuses woman of acting as Russian agent

    Monday, July 16 2018 4:09 PM EDT2018-07-16 20:09:37 GMT
    Tuesday, July 17 2018 5:48 AM EDT2018-07-17 09:48:56 GMT
    (AP Photo/Markus Schreiber). U.S. President Donald Trump, left, listens to Russian President Vladimir Putin during a press conference after their meeting at the Presidential Palace in Helsinki, Finland, Monday, July 16, 2018.(AP Photo/Markus Schreiber). U.S. President Donald Trump, left, listens to Russian President Vladimir Putin during a press conference after their meeting at the Presidential Palace in Helsinki, Finland, Monday, July 16, 2018.

    Federal authorities have arrested a Russian woman accused of conspiring to infiltrate American political organizations at the direction of a senior Kremlin official.

    Full Story >

    Federal authorities have arrested a Russian woman accused of conspiring to infiltrate American political organizations at the direction of a senior Kremlin official.

    Full Story >
  • Trump returns from summit with Putin to forceful criticism

    Trump returns from summit with Putin to forceful criticism

    Tuesday, July 17 2018 12:20 AM EDT2018-07-17 04:20:06 GMT
    Tuesday, July 17 2018 5:48 AM EDT2018-07-17 09:48:47 GMT
    (AP Photo/Pablo Martinez Monsivais). U.S. President Donald Trump speaks with Russian President Vladimir Putin during a press conference after their meeting at the Presidential Palace in Helsinki, Finland, Monday, July 16, 2018.(AP Photo/Pablo Martinez Monsivais). U.S. President Donald Trump speaks with Russian President Vladimir Putin during a press conference after their meeting at the Presidential Palace in Helsinki, Finland, Monday, July 16, 2018.

    Standing alongside Putin, Trump steered clear of any confrontation with the Russian, going so far as to question American intelligence and last week's federal indictments that accused 12 Russians of hacking into Democratic email accounts to hurt Hillary Clinton in 2016.

    Full Story >

    Standing alongside Putin, Trump steered clear of any confrontation with the Russian, going so far as to question American intelligence and last week's federal indictments that accused 12 Russians of hacking into Democratic email accounts to hurt Hillary Clinton in 2016.

    Full Story >
Powered by Frankly