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The official closing of the sale will take place no later than March 15, 2024.
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Cincinnati City Council is considering how to spend about $11 million from the carryover budget, an annual process to spend money left over from the last fiscal year.
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Cincinnati voters will decide this election whether the city can execute a plan to sell the only municipally owned railroad in the U.S. to a private corporation.
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Cincinnati City Council approved about $15 million for reserve accounts. There's still $10.9 million left over from the last budget.
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The city of Cincinnati has about $38 million leftover from the last fiscal year budget; most of it is pre-determined for several reserve accounts.
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Cincinnati NAACP President Joe Mallory says the lack of public engagement on the plan is concerning.
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Cincinnati is at least $400 million behind on maintaining city infrastructure like roads, parks, and recreation centers. Several City Council members took a tour Monday of some facilities most in need of attention.
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The City Manager's Office has a plan to spend $250 million over 10 years on projects like streets and sidewalks, parks, recreation centers, and more.
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The next Cincinnati budget includes about $20 million to repave streets, with another $2 million in grants expected.
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As Council considers next year's budget, expenses have grown faster than revenue is projected to grow.