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Committee clears $248M roads and streets bond for November special election
Summary
The committee recommended placing a $248 million general obligation bond on the November 8 ballot to fund repaving (about $148M), pedestrian and bicycle safety improvements ($50M), ADA curb ramps and sidewalk repairs ($22M), traffic-signal upgrades ($20M) and seismic/structure repairs ($7M); the bond is sized to avoid raising the property-tax rate, per the city’s 10-year capital plan.
The Department of Public Works asked the Budget and Finance Committee to recommend placing a $248 million general obligation bond on the November 8, 2011 ballot to finance street repaving, pedestrian and bicycle safety improvements, ADA curb ramps and sidewalk repairs, traffic-signal upgrades and limited structural/seismic work.
Ed Reiskin (Director of Public Works) summarized the bond’s allocations: roughly $148 million for paving (nearly 1,400 blocks), $50 million for pedestrian and bicycle safety and streetscape, $22 million for ADA curb ramps and about 125,000 square feet of sidewalk repair, $20 million for traffic-signal and transit-signal improvements, and $7 million for seismic/repair work on city structures. Reiskin said the bond aligns with the 10-year capital plan and is sized to issue new debt only as old debt retires, so it would not increase the property-tax rate.
Budget analyst Mr. Rose concurred with the presentation and recommended approval based on the board’s prior policy decision. There was no public comment recorded. The committee voted to forward the ordinance to place the measure on the ballot with recommendation.
