Cincinnati streetcar operating plan unveiled
Operations could be funded by increased parking meter rates and a reduction in tax abatements claimed by property in downtown and Over-the-Rhine under a plan unveiled on Wednesday.
CINCINNATI — The Cincinnati streetcar's operations could be funded by increased parking meter rates and a reduction in tax abatements claimed by property in downtown and Over-the-Rhine under a plan unveiled on Wednesday, reported Cincinnati Business Courier.
The increase in parking meter rates also is expected to fuel a boost to the city's general revenue fund, which already is swelling from increased income tax revenues and cuts in city spending. Another $500,000 stemming from the parking meter rate increases could go into the general revenue fund, but it could be more or less, Flynn said in an interview.
The plan appears to put to rest a year of handwringing over how the city would cover the estimated $4 million operating costs, according to the report.
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