Cincinnati voters will decide a hotly debated question on the ballot this election: should the city sell Cincinnati Southern Railway to Norfolk Southern?
Supporters of the sale argue the railroad has become a financial asset – and interest earned from investing the $1.6 billion sale price could bring in more revenue for the city than the annual lease payments it currently receives from Norfolk Southern.
Opponents of Issue 22 argue it would be foolish to sell an asset the city has owned for more than a century and that generates money for the city every year.
RELATED: Issue 22: Selling Cincinnati Southern Railway
In the first of two Cincinnati Edition programs dedicated to Issue 22, we’ll talk with a supporter and opponent of the measure, along with a reporter who’s been covering the proposed sale. Our focus on this segment will be on the financial aspects of the proposal.
Guests:
- Former Cincinnati Mayor Charlie Luken, who serves as vice president of the Cincinnati Southern Railway board of trustees
- Former Cincinnati City Councilmember Kevin Flynn, who opposes the sale
- Becca Costello, WVXU local government reporter
Correction: During our conversation, former Cincinnati Mayor Charlie Luken misstated information about how the Cincinnati Southern Railway board has paid for consulting related to the sale of the railroad. The board paid $4 million – not $3 million as he stated in the program. Luken wants to be clear no taxpayer money was used. The railway board negotiated $25 million from Norfolk Southern to cover its costs related to the sale and used some of that money for the consulting fees.
In the second program dedicated to Issue 22 on Oct. 24, we’ll examine how the city plans to spend money that would be generated by a sale and discuss concerns about equity that have been raised by some opponents.
Ways to listen to this show:
- Tune in live at noon ET M-F. Call 513-419-7100 or email talk@wvxu.org to have your voice heard on today’s topic.
- Catch the replay on 91.7 WVXU and 88.5 WMUB at 8 p.m. ET M-F.
- Listen on-demand. Audio for this segment will be uploaded to this page by 4 p.m. ET., or subscribe to our podcast.