CINCINNATI, OH — It has been a long time since a streetcar was just a streetcar here.
Instead, a $133 million project to build a 3.6-mile streetcar line through downtown has come to represent, depending on whom you talk to, a debt trap that will sink the city or an ambitious development effort that is central to Cincinnati’s revival.
And when the debate ended last week in an unexpected last-minute victory for the streetcar proponents, it was seen as both a vote of confidence in the city’s future and a reminder of how tenuous support for the project had become.
On the brink of being shut down, the project was saved by a successful petition drive and a written commitment, provided by the Haile U.S. Bank Foundation, from about 15 private backers to pay up to $9 million in operating costs, if needed, over the line’s first decade.
Read more: http://www.nytimes.com/2013/12/23/us/cincinnati-streetcar-plan-pits-desire-for-growth-against-fiscal-restraint.html?_r=0