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Washington, D.C. - Congresswoman Jean Schmidt (R-OH) announced that the U.S. House of Representatives Committee on Transportation and Infrastructure authorized $25 million in federal funding for construction of the Cincinnati Riverfront Development Project (the Banks). The authorization for federal funds was included in a manager’s amendment to the Water Resources and Development Act which passed the full Committee by voice vote this afternoon.
The provision authorizing funding for the Banks project will allow the Federal Government to fund up to $25 million to begin construction. The measure is expected to pass the full House next week.
"The Banks Project is vital to the future of downtown Cincinnati," said Congresswoman Schmidt. "Today’s action is the first step in getting the federal government involved in this vital development. While getting authorization for federal funds is certainly not the last step in this process, it is undoubtedly a very vital step," Schmidt added.
Congresswoman Schmidt is a member of the Transportation and Infrastructure Committee. The Congressional authorization will allow the City and County to seek federal funds for Army Corp of Engineers projects needed to develop the real estate along the Ohio River downtown.
"In my meetings with our County Commissioners and Mayor Mallory, the Banks project is the top of their list of things they need from the federal government. I am quite pleased that I was able get this first step done. I have been working on this for almost two years and I want to thank Senator Voinovich for his help in the Senate and of course my Hamilton County partner Steve Chabot," Schmidt concluded.
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