Issue 22: Where Cincinnati Council candidates stand on railroad sale

This November, Cincinnati voters will be voting on Issue 22. If the ballot measure passes, the city-owned Cincinnati Southern Railway will be sold to Norfolk Southern.

The Enquirer asked candidates for Cincinnati city council what their positions were on the railroad sale, and how they would like the proceeds to be spent. Here's what they said. (Some answers have been shortened for brevity.)

Anna Albi

"Yes. The funds from the railroad sale will be invested and it’s estimated that the yearly interest would be twice as much as we are currently earning from the lease. That money must be used to repair existing infrastructure–something we desperately need. "

Jeff Cramerding

"Yes."

Reggie Harris

"As I see it, the sale of the railroad both diversifies our assets and significantly increases our annual revenue at a time when we desperately need it. This is a generational opportunity and I wholeheartedly support it...Considering we have a long list of deferred maintenance projects across our major departments totaling around $500 million, there are plenty of capital needs that can be addressed with additional funding. What will be important is that we do an analysis based on equity, market forces, current development, and climate to help develop a strategy that has maximum impact and is equitable."

Mark Jeffreys

"Yes. With $400M in deferred maintenance and underfunding of road repaving, the need to increase our investment in current infrastructure is imperative. With needed restrictions put on by the State Legislature, safeguards are put in place that we cannot ever go 75% of the principal. This is a smart financial decision.  Additionally, if we do not sell it then we would still be locked into a relationship with Norfolk Southern for the next 25 years where we could have legal liability if there is an accident and we would be better less for the lease of the railroad than sale."

Scotty Johnson

"No. I do not see all of the benefits it will provide Cincinnati. "

Liz Keating

"I do support this issue. I believe diversifying our assets is critical to the financial health of our city."

Jan-Michele Lemon Kearney

"Yes. We need to diversify this asset which we do not regulate or control anyway, and wiselyinvest the $1.6 billion sales proceeds. We must ensure that the annual proceeds from thisinvestment are used equitably so that our underserved communities benefit and prosper.Conservative estimates predict that our return on investment will provide us with at least $50million per year, which is twice as much as the $25 million per year that we receive from leasingthe railroad."

Meeka Owens

"Yes. Selling the Cincinnati Southern Railway will allow Cincinnati to thrive in the coming years,and profit off of an asset that we so desperately could use to invest in local infrastructure now.Most importantly, we should ensure that these investments will be impactful and equitable fromthe jobs that the projects will create, to the actual neighborhoods where these investments andimprovements will occur."

Victoria Parks

" I do support the sale. The revenue from the trust fund will help us pay for our $400 million in deferred maintenance, and the trust fund is highly regulated to protect it from any misuse."

Seth Walsh

"I am supportive of this sale. This opportunity will allow us to address the city’s deferred maintenance projects via a trust, which will ensure this money is spent responsibly. Addressing these deferred maintenance projects is key to promoting city growth."

This article originally appeared on Cincinnati Enquirer: Issue 22: Where Cincinnati Council candidates stand on railroad sale