January 27, 2016 Comments Off on $5B “Rebuild San Diego” Plan Revealed Views: 485 California News, San Diego

$5B “Rebuild San Diego” Plan Revealed

A $5-billion spending plan unveiled this week by San Diego leaders is aimed at eradicating decades of neglect, deferred maintenance and underfunding. The “Rebuild San Diego” ballot measure seeks to fund basic infrastructure investments, long-delayed as a result of the city’s pension crisis and Great Recession.

If voters approve, funding will go to new libraries, police and fire stations, parks, streets, sidewalks and water utilities. The city could also catch up on more than $4 billion worth of deferred maintenance and building projects.

Proponents say no new taxes or municipal bonds will be needed, as existing city revenue streams will be tapped for the 30-year series of projects. The San Diego County Taxpayers Assn. cautioned against what it calls “ballot-box budgeting”, although it applauded the effort to address a massive infrastructure backlog.

Read More at NBC San Diego

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