Streetcar skeptic to believer (Cincinnati, Jackson: city hall, to live in, budget)

[cincydave8]

A couple actual streetcar updates:
Council Committee Hears Several Streetcar Updates | WVXU

Streetcar ridership numbers have not been meeting expected targets yet, but operating fund finances are exceeding projections. Through the end of January, that account is $147,730 higher than estimates.

"Monetarily we're still running slightly above where we need to be for the year," said assistant city manager John Juech. "At his point I don't see causes for concern. Obviously, we hope that we will see an increase in ridership as the weather gets nice and we've got some more events going on."

Preliminary numbers show 36,677 rides for February. That compares to 35,334 in January.

Also blocking the track will cost you $100 instead of $50.

[WRnative]

Originally Posted by cincydave8

Through the end of January, that account is $147,730 higher than estimates.

What is the source of streetcar fund revenues other than fares? Or do fares cover operating expenses even with ridership below projections?

Is there a separate capital expenditure reserve fund, for repair and maintenance, or is this it?

[Wilson513]

That loud sucking sound you hear is the money coming out of neighborhood projects all over Cincinnati to fund the ride.

[unusualfire]

Originally Posted by Wilson513

That loud sucking sound you hear is the money coming out of neighborhood projects all over Cincinnati to fund the ride.

No it was suppose to be funded totally by the casino taxes. So in a way it is. Either directly or indirectly. And i have not gotten to the increased property value which= more property taxes collected.

[cincydave8]

Originally Posted by WRnative

What is the source of streetcar fund revenues other than fares? Or do fares cover operating expenses even with ridership below projections?

Is there a separate capital expenditure reserve fund, for repair and maintenance, or is this it?

In all honesty, I personally can't answer those questions. I can link you to the funding page, Cincinnati Bell Connector Funding - Streetcar, but I think most of that is the initial funding. They're also getting a good chunk of funding from advertising and other fees.

You could probably pose those questions on Urban Ohio's thread for better answers. https://www.urbanohio.com/forum2/ind...cseen.html#new

[jmecklenborg]

3CDC pays $1.5 million for the former Kentucky Fried Chicken on the streetcar route (streetcar tracks on both sides):
http://www.bizjournals.com/cincinnat...ty-street.html

This is a fairly large lot, but if it were divided into typical 25-foot city lots, it would be about $80,000 per lot. Again, lots were selling in this area for $5,000 back when 3CDC bought up tons of buildings and lots in the area during the 2009 recession.

You've got to wonder if 3CDC was anti-streetcar this whole time because they knew it would drive up land values and inhibit the organization's ability to control the entire neighborhood.

[mike1003]

Originally Posted by Wilson513

That loud sucking sound you hear is the money coming out of neighborhood projects all over Cincinnati to fund the ride.

The ride going nowhere. We figured out today that it is a way for drug dealers to move around DT and OTR. What a frickin waste of money!!!!!!!!!!!

[jmecklenborg]

$1.2 million new-construction house now pending on 15th St., just 100 feet from streetcar tracks:
https://www.sibcycline.com/Listing/C...nnati-OH-45202

[OyCrumbler]

One thing I'm curious about is what factors make the Kansas City Streetcar have higher ridership despite the shorter length? KC's streetcar has almost three times the ridership in February despite the shorter length. Some factors I was thinking might be the more straightforward route, connecting to a major university, and generally just having less city support. It also connects to an Amtrak station, but I'd imagine that the fairly low ridership makes it not much of a factor.

[bigdipper80]

^KC's streetcar is free.