Plugging street repair shortfall with borrowed money

The City has long struggled to adequately fund its street repairs to ensure the overall conditions just do not deteriorate. The City has explored new revenue to ensure a steady stream of money is available each year.

Amid budget deficits and not figuring out a steady revenue stream, The City has instead decided to borrow some money.

The Board of Supervisors approved in a 11-0 vote Tuesday legislation authorizing borrowing $48 million. Over 20 years, The City will pay back a total of $85.5 million in annual $4 million payments from The City’s operating budget, according to a report by Budget Analyst Harvey Rose

jsabatini@sfexaminer.com

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