June 10, 2016 Comments Off on $4B Infrastructure Measure Passed Views: 358 California News, San Diego, West

$4B Infrastructure Measure Passed

Voters passed Rebuild San Diego this week, the ballot measure envisioned to erase decades of infrastructure neglect across the city. Proposition H earmarks funds to repair parks, libraries, roads and sidewalks.

The exact amount that’s needed is unclear, but proponents agreed it’s wise to fixing a multi-billion dollar infrastructure deficit that’s not getting smaller. Conservative estimates say some $4 billion will be set aside for repairs as a result of Prop H.

Proposition H won’t rely on new tax revenue and will be funded from expected future funds. Over the next 25 years, that will come from growth in sales taxes, captured cash savings from reduced payments to the city’s pension fund, as well as over the next five years, 50% of any growth in property taxes, hotel taxes, and franchise fees.

Read More at KPBS

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