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Board committee files $35 billion, 10-year capital plan that includes $350 million Seawall bond
Summary
City staff presented a fiscally constrained $35 billion 10-year capital plan that proposes a $350 million general obligation bond to fortify the Seawall, targets a pavement condition index of 70 by 2025, and details pay-as-you-go and bond sequencing to avoid raising property tax rates; the committee filed the hearing.
City administrators presented the proposed 10-year capital expenditure plan and the Budget and Finance Committee filed the hearing to allow the plan to return as an action item with further detail.
City Administrator Naomi Kelly said the plan recommends a record-level $35 billion investment over the next decade to fund seismic repairs, transportation, utilities, parks and affordable housing. The plan includes a proposal for a $350 million general obligation bond to begin fortifying the San…
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