SAN FRANCISCO—Mayor Edwin Lee and theSan Francisco Board of Supervisors has introduceda proposed $500-million general obligation bond for the Novemberballot that would go toward infrastructure projects aimed atsignificantly improving San Francisco'stransportation network—without raising propertytaxes. The bond would increase MUNI reliabilityand travel speed, upgrade transit stops and stations, improvepedestrian and bicycle safety and prepare for growth on the city'sbusiest travel corridors.

|

Key investments planned for the bond include:

  • MUNI Forward Rapid Network capital projectsand other transit-improvement projects: $230 million
  • MUNI maintenance facility upgrades: $70 million
  • Pedestrian safety enhancements: $68 million
  • Complete Streets” projects, including new orenhanced bikeways: $52 million
  • Transit-stop accessibility improvements: $30 million
  • Traffic-signal replacement: $22 million

The bond will not raise property-tax rates and would includecitizen oversight and regular audits to assure accountability andtransparency. It is one of several recommendations of theSF 2030 Transportation Task Force, which Leeconvened last year, as GlobeSt.com reported in February, to examine the city'stransportation-infrastructure needs and prepare for its future. Thetask force found that to meet current need and future demand, theCity requires a $10-billion investment in transportationinfrastructure through 2030.

|

The City has identified $3.7 billion in funding, leaving a$6.3-billion funding gap over the next 15 years. The bond measure,which will begin to address the transportation-funding gap andallow the City to invest in much-needed local infrastructure, ispart of its 10-year capital plan, which prioritizes criticalcapital projects that impact public safety and improveneighborhoods.

|

According to Lee, “San Francisco deserves a safe, reliable andaffordable transportation system, and today we are making anhistoric investment in our city's vital transportationinfrastructure as we plan for a growing and successful city. Thisinvestment will make it easier for San Franciscans to get aroundthe city as they go to work, school, home and everywhere inbetween. If passed this November, the $500-million generalobligation bond will improve MUNI, improve pedestrian safety andimprove our bike network—all without raising property taxes.”

|

If approved by the Board of Supervisors by July 22, the bondmeasure will be on the November 4 ballot. To pass in November, thegeneral-obligation bond requires a two-thirds majority vote by SanFrancisco voters.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.