Mark P. Painter
Cincinnatians will vote on selling our railroad in November. I will vote yes. The deal is too good to pass up. By far.
Why?
I trust the Cincinnati Southern Railway Board of Trustees. They have studied, negotiated and debated the deal. Two lawyers, an experienced CPA, a former P&G executive, two former mayors, a former councilwoman, two Republicans and three Democrats. All in a total of five people. And I trust the present mayor. Our mayor and all present council members support the deal.
Enquirer Editorial:Time for Cincinnati to get out of the railroad business
I trust the deal. Cincinnati will receive $1.6 billion. Billion. It can be put in a fund to get at least twice as much per year than we get now. Double. An extra $25–50 million each year for existing infrastructure – that means streets, parks and other city-owned facilities. We know we need the dollars. Cincinnati is far beyond backed up on essential maintenance, repair and replacement of vital systems. The streets are an embarrassment.
The only objection to the deal I’ve heard is that the “politicians” will spend the money too quickly. I am worried that it won’t be spent quickly enough. At least a smidgeon of it. Yes, the state legislature has placed strict limits on spending the money. These limits are unwise.
We probably should touch the fund initially. Let’s take 6% off the top to invest in the future now.
We have a one-time opportunity. A boon to the city without raising taxes. A very small part, 6%, can do so much good. And I think we can still get double yearly from the fund. Double.
Let’s use $50 million for housing. We desperately need housing. And it will not be just a vast improvement now, it’s an investment for the future. A one-time fund can pay returns for many years in good jobs and good housing. (Yes, there are some legal strictures, but any dollar that can’t be used for one purpose can be used for an equally worthy purpose, freeing other city revenue for housing.)
Likewise, $50 million for roads and transportation. Any investment is long-term − but we should start now. Make our streets better, safer − something to be proud of and not embarrassed about. Living Downtown, I drive very little, but it’s like driving in a recent war zone. Visitors must think the same.
By taking just 6% of the fund for these two projects, we would markedly improve the city for everyone. And we still have the extra − at least $30 million more each year for fire, police, paramedics, health and parks. Housing and streets won’t need to compete for a while, so more funding will flow for those essential services.
And let’s not stop there. Let’s have a Cincinnati Renaissance. Let’s transform our city into a model for the Midwest. The benefits, both quality of life and financial would multiply for years to come.
Many years ago, after I had been a judge for a few years, I expressed my frustration with sometimes seeing the same defendants before me that I had before. Even after giving them a chance to get treatment or “straighten out.” An older judge told me, “But what about the ones you don’t see again?” And I thought that defendant who was helped then made an exponential difference down through the years. By not spending money now, we are giving up immense improvements for the future. The future begins now.
There’s plenty more sources for needed city improvements. How many private, tax-exempt funds and foundations in this city are sitting on mountains of money? Many have around $100 million. Or more. And they annually give the legally required minimum of 5%. In good years for the stock market, their gain is more than they give away. Their money is intended for charity. Why not do more good now?
One fund, of which there are many, gives away 5% of $100 million. But does pay each trustee close to $100,000 a year for what they claim is ten hours a week work. Some are worse. But that’s another column. For now, just know that much money intended to help our community is sitting useless, mainly benefiting banks, accountants and financial advisers.
Why sit on the money forever? I call on these private foundations to give a minimum of $25 million.
We would have $125 million to immediately benefit our city, with lasting and exponential benefits. Why would we pass up this golden opportunity?
Each dollar invested now will result in multiples of good down the road. One time, $125 million. A Cincinnati Renaissance.
The future begins now.
Mark Painter served for exactly 30 years as a judge (Ides March 1982–Ides March 2012). He was elected to the Ohio Court of Appeals in 1994, serving until 2009. Previously, he served on the Hamilton County Municipal Court for 13 years. In 2009 he was elected by the General Assembly to the United Nations Appeals Tribunal. He was the only American on the seven-member court. He is the author of six books and numerous nationally published opinions.
