Passage of Issue 22 is vital to the City’s long-term fiscal health and ability to maintain existing infrastructure without raising taxes
Cincinnati, OH (October 5, 2023) – Today, the Cincinnati Regional Chamber announced its support for Issue 22, the proposed sale of the Cincinnati Southern Railway.
Statement from Brendon Cull, President & CEO, Cincinnati Regional Chamber:
The sale of the railroad and the establishment of an infrastructure trust will bring long-term, positive financial impact to the City of Cincinnati. Issue 22 is a bold opportunity for the City to improve the lives of Cincinnatians now and in years to come, as it will help grow our region’s economy and make Cincinnati a more attractive place to live.
The passage of Issue 22 is critically important to the future of the City, and the business case couldn’t be clearer. With $400 million dollars in deferred maintenance, the City’s budget challenges in the coming decade are real and require strategic and sustainable solutions. The railroad sale allows the City to address its deferred maintenance budget without raising taxes on businesses and families in Cincinnati.
A permanent trust for the improvement of aging infrastructure is something any city in America would love to have. The Cincinnati Southern Railway Board ensures the proceeds from the sale will be reinvested back into the community to maintain only existing infrastructure, and the State legislature has put sensible guardrails in place to ensure the trust fund can support the City’s capital needs in perpetuity. With its conservative investment strategy and clear limitations to existing infrastructure projects, Cincinnatians can be confident that the proceeds from the sale will lead to responsible decision-making.
Cincinnati voters have an opportunity to ensure the City has the resources necessary to invest in the roads, bridges, parks, and recreation centers that desperately need repair and replacement. That’s why we are joining Mayor Pureval, five previous Mayors, the majority of Council, and the broad coalition of community leaders who have come together to support the sale to urge voters to support Issue 22.