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SFMTA seeks faster spending of 2014 Geo Bond, proposes reallocating within program categories amid inflation
Summary
SFMTA acting CFO Jonathan Ruiz told the oversight committee the agency will reallocate some 2014 Geo Bond funds toward shovel-ready facility projects to accelerate spending and protect purchasing power, and explained the difference between the failed June 2022 bond measure and the Prop L sales-tax renewal on the November ballot.
Jonathan Ruiz, acting chief financial officer for the San Francisco Municipal Transportation Agency, presented lessons learned from delivering the 2014 transportation (Geo) bond and described a proposal to reallocate funds within the bond's program categories so dollars can be spent more quickly amid inflationary pressure.
Ruiz said the Geo Bond was voter-approved in 2014 with more than 70% support. He reviewed spending…
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