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SFMTA updates GO-bond oversight committee on slow spending, Muni Forward gains and Van Ness disputes
Summary
SFMTA told the committee it has issued roughly $244 million of a $500 million Transportation bond, spent most of the first issuance and is targeting projects that can be delivered quickly; members pressed staff on Van Ness BRT dispute-review and permit coordination.
Chair Chu convened the GO Bond Oversight Committee for a quarterly briefing in which SFMTA Chief Financial Officer Leo Levinson outlined progress on the 2014 Transportation and Road Improvement general obligation bond. Levinson said the bond was authorized at $500 million, "we have had 2 issuances, totaling about 244,000,000," and staff has expended roughly 93% of the first issuance and about 22% of the second issuance.
The agency highlighted improvements completed under the Muni Forward program and other bond-funded work. Steve Boland, describing corridor improvements, said the 5 Fulton corridor'projects helped boost daily boardings "from about 14,000 riders before we started the improvements, up to about 23,000 today," and delivered roughly "a 9 to 12% improvement in speed in this corridor." Boland…
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