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

Bay Area NewsGovernment & PoliticsNEPPoliticsUnder the Dome

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/
Previous story
80-year-old dodges bullet
Next story
SF awarded by EPA for leadership in green-power generation

Just Posted

U.S. Attorney David Anderson announces federal firearms charges against two men for their roles in a March 2019 shooting outside the Fillmore Heritage Center in a news conference alongside SFPD staff at the Phillip Burton Federal Building on Thursday, Jan. 9, 2020. (Kevin N. Hume/S.F. Examiner)
Departing U.S. attorney predicts corruption probe will continue

David Anderson shook up City Hall as top federal prosecutor

Board of Supervisors President Shamann Walton, a former school board member, has been asked to help secure an agreement between the school district and teacher’s union. <ins>(Kevin N. Hume/S.F. Examiner)</ins> <ins></ins>
Supervisor Walton tapped to mediate teacher contract talks

District and union at odds over hours in-person students should be in the classroom

California is set to receive supplies of the Johnson & Johnson vaccine, which is still under review by the U.S. Food and Drug Administration. (Courtesy photo)
California could receive 380K doses of new J&J COVID vaccine next week

California could receive 380,300 doses of the new Johnson & Johnson vaccine… Continue reading

Disability advocates protested outside the home of San Francisco Health Officer Tomas Aragon. (Courtesy Brooke Anderson)
Vaccine rollout plan for people with disabilities remains deeply flawed

On February 13, disability activists paid a visit to the house of… Continue reading

A Bay Area Concrete Recycling facility that opened on PG&E property in 2019. Former PG&E employees have been accused of accepting bribes from Bay Area Concrete. (Courtesy of Bay Area Concrete Recycling via ProPublica)
Lawsuit reveals new allegations against PG&E contractor accused of fraud

By Scott Morris Bay City News Foundation Utility giant Pacific Gas &… Continue reading

Most Read