Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Transportation topic
No spam. Unsubscribe anytime.
Board moves forward with $500 million transportation bond to appear on November ballot
Summary
Supervisors introduced and approved on first reading a city resolution and ordinance calling a $500 million general obligation bond for transportation and road improvements. The board voted unanimously to put the measure on the Nov. 4 ballot; sponsors said roughly $300 million would support Vision Zero projects to reduce traffic deaths.
The Board of Supervisors approved a resolution and ordinance to place a $500 million general obligation bond for transportation and road improvements on the Nov. 4, 2014 ballot.
The bond would fund street and transit infrastructure across the city; sponsors said approximately $300 million of the $500 million is intended to support projects tied to the city’s Vision Zero goal of eliminating traffic fatalities. The ordinance calls for voters to consider incurring the bonded debt and includes an administrative-code provision allowing landlords to pass through 50 percent of the resulting property-tax increase to residential tenants under Administrative Code Chapter 37.
"This bond is not just about improving our public transportation system; it’s also about making our roads safe for pedestrians and bicyclists," said Supervisor Katy Tang, a lead sponsor. Supervisor Norman Yee, Supervisor Julie Christensen (Chu) and others praised the Transportation 2030 Task Force and community support for a unified measure.
The Board voted unanimously in a local vote; the resolution of intention and ordinance passed on first reading, sending the bond measure to the November ballot. Supervisors said the bond is intended to be one element in a broader funding strategy that could include a future vehicle licensing fee and other revenue sources to support long-term transit improvements.
What’s next
The measure will appear on the November 4, 2014 ballot. If approved by voters, the city will borrow to finance construction, acquisition and improvements related to transit and transportation infrastructure; specific projects and allocations will follow through the city’s capital‑planning processes and any charter or ordinance requirements.
