IN SOUTHWEST OHIO, THE SALE OF A CITY-OWNED RAILWAY IS PAYING HUGE DIVIDENDS FOR ITS FORMER OWNER.
THE BOARD OF TRUSTEES OF THE CINCINNATI SOUTHERN RAILWAY TRUST MET TUESDAY AND VOTED TO APPROVE A RECORD PAYOUT OF OVER $72 MILLION DOLLARS FOR THE CITY'S FISCAL 2028 BUDGET. THE ORIGINAL $1.6 BILLION DOLLAR SALE OF THE CITY-OWNED RAILWAY TO NORFOLK SOUTHERN WAS NARROWLY APPROVED BY VOTERS IN NOVEMBER OF 2023 AND A FUND WAS ESTABLISHED WITH THE MONEY. SINCE ITS INCEPTION, THE FUND HAS OVER PERFORMED ITS ANNUAL GROWTH. BEFORE THE SALE, THE CITY ONLY MADE $26 MILLION A YEAR FROM LEASING THE RAILWAY.