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Cincinnati Approves Parking Privatization, But Judge Halts It

The Cincinnati City Council Wednesday narrowly approved a controversial plan to lease the city's parking system for an upfront payment to offset a budget shortfall - but a judge almost immediately issued an injunction to halt the deal.

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Comments (1)
Cincinnati is doing this deal to get the money they want for downtown development that they had previously diverted to their unpopular streetcar project. As a resident of Cincinnati, I see these steps by the Democrat dominated Cincinnati City Council as desperate measures as the city is moving towards increasingly financial hard times. For the city, this is bad deal to get funds for 2 years worth of projects. The city residents have not been told about the additional $105 million in bonds or the city's plans to curb improvements in mass transit. By not improving mass transit, the city/county is likely to have air pollution issues that could also put financial constraints on the city. I am not planning to buy any of the Cincinnati bonds and hope my retirement fund won't either.
Posted by Gwen M | Wednesday, March 13 2013 at 10:54AM ET
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