SAN FRANCISCO—Mayor Edwin M. Lee recentlypresented his proposed balanced budget for seven City departments(the Airport, Port, Public Utilities Commission, MunicipalTransportation Agency, Child Support Services, Retirement Systemand Public Library), totaling $5.9 billion over the next two years.The May 1st budget includes enterprise and other self-supportingdepartments.
The proposed capital projects deliver more than $4 billion intothe local economy and support over 36,000 local jobs. “We haveopportunity to protect and continue our economic recovery while atthe same time improve our City's infrastructure for generations tocome,” says Mayor Lee.
He continues that “As we invest in and strengthen ourtransportation, waterfront and water system infrastructure, we arealso putting our residents back to work. We will ensure that SanFrancisco remains an economic engine for the region and is a Citythat people from all levels of the economic spectrum can callhome.”
Supervisor Mark Farrell points out that “AlthoughSan Francisco is in a better place economically, we cannot takeanything for granted and must continue to ensure that our City isfiscally responsible, safe and successful while balancing manycompeting needs.”
A well-functioning, safe, and efficient public transportationsystem is critical to ensuring that San Francisco is accessible andlivable for all, says the Mayor. The Municipal TransportationAgency's budget implements a 10% service increase over the next twoyears, which includes additional maintenance and front-line transitworkers. “This investment will ensure the reliability,affordability, and accessibility of our City's public transitsystem, which is central to San Francisco's well-being andlivability.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 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.