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SFMTA outlines slow spending on recent bond issuance and proposes targeted reallocation
Summary
SFMTA reported that earlier issuances of the 2014 transportation bond are nearly spent while the 2021 issuance lags (about 3.2% expended); agency staff said they plan to reallocate funds within program buckets and across issuances where permissible to accelerate delivery and close out lagging issuances.
Joel Goldberg, manager of programming and grants at the San Francisco Municipal Transportation Agency, gave the committee a status update on the 2014 Transportation and Road Improvement general obligation bond, which was described in the presentation as a $501.7 million measure approved by voters.
Goldberg said the bond was issued in multiple issuances (labeled in staff materials as 2015b, 2018b, 2020b and 2021c) and that earlier issuances are substantially spent: the 2015 issuance has about $2.4 million remaining; the…
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