Amy Wagner talks with John Cranley about streetcar funding - Toledo News Now, Breaking News, Weather, Sports, Toledo

FOX19 Investigates: Streetcar by the numbers

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CINCINNATI, OH (FOX19) -

Now that John Cranley is Cincinnati's Mayor elect, can he officially put the brakes on Cincinnati's Streetcar?

At this point, it comes down to numbers. Does the cost of putting the brakes on the project outweigh the cost of keeping the project on the rails? FOX19's Amy Wagner crunched the numbers, investing the bottom line for taxpayers.

Amy: By the numbers, how much do you believe it will cost taxpayers to put the brakes on this? 

Cranley: I think it will cost the taxpayers somewhere between $20 to 30 million that unfortunately, current leadership has wasted in my opinion

The breakdown looks like this: Breaking the contract with CAF, the company hired to manufacture the streetcar, will cost at least $1 million. A federal grant of $2 million that has already been spent will also have to be refunded.

Cranley estimates that the cost of the project to date is roughly $23 million. However, the Mayor-Elect believes that number is not the number taxpayers should focus on.

"The cost of continuation is much greater than the cost of stopping," explains Cranley.

According to Cranley, that cost includes $100 million in capital dollars, which Cranley says could be higher depending on the total cost to Duke Energy to relocate lines.

Cranley also estimates a cost of $4 million annually in operating expenses. Cranley projects a price tag as high $180 million.

When asked about the potential revenue for the streetcar, Cranley stated "where I've been haven't seen many people riding."

In order for Cranley to deliver on his campaign promise, his new City Council will have to back him. 

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