Mayor Lee’s Statement on Transportation Bond for November 2014 Ballot
Mayor Edwin M. Lee today issued the following statement on Board of Supervisors’ final unanimous approval of a proposed $500 million general obligation bond for the November 2014 ballot for infrastructure projects that would significantly improve San Francisco’s transportation network without raising property tax rates:
“This November, with my support and the support of every member of the Board of Supervisors, San Francisco voters will have a historic opportunity to invest in the future of transportation in our City without raising property tax rates. If passed, this $500 million general obligation bond – the first transportation bond in decades – will improve Muni and make it easier to move around our City by bus, by car, by bicycle and on foot. This $500 million transportation bond is the first recommendation of our Transportation 2030 Task Force and will be a major step towards delivering more reliable, safer, affordable transportation today and keeping our City moving for the future.”
Key investments planned for the $500 million general obligation bond include:
• Muni Forward Rapid Network Capital Projects and other transit improvement projects: $230 million
• Transit stop accessibility improvements: $30 million
• Muni maintenance facility upgrades: $70 million
• Pedestrian safety enhancements: $68 million
• Traffic signal replacement: $22 million
• “Complete Streets” projects, including new or enhanced bikeways: $52 million
The transportation bond will not raise property tax rates, and would include citizen oversight and regular audits to assure accountability and transparency.
The bond measure will be on the November 4, 2014 ballot. To pass in November, the general obligation bond requires a 2/3 majority vote by San Francisco voters.
The $500 million general obligation bond is one of several recommendations of the SF 2030 Transportation Task Force, which Mayor Lee convened last year to examine San Francisco’s transportation infrastructure needs and prepare for the City’s future. The Task Force found that to meet current need and future demand the city requires a $10 billion investment in transportation infrastructure through 2030. The City has identified $3.7 billion in funding, leaving a $6.3 billion funding gap over the next 15 years. For the final recommendations of the Mayor’s SF 2030 Transportation Task Force, go to: www.sf-planning.org/index.aspx?page=3427.
“This November, with my support and the support of every member of the Board of Supervisors, San Francisco voters will have a historic opportunity to invest in the future of transportation in our City without raising property tax rates. If passed, this $500 million general obligation bond – the first transportation bond in decades – will improve Muni and make it easier to move around our City by bus, by car, by bicycle and on foot. This $500 million transportation bond is the first recommendation of our Transportation 2030 Task Force and will be a major step towards delivering more reliable, safer, affordable transportation today and keeping our City moving for the future.”
Key investments planned for the $500 million general obligation bond include:
• Muni Forward Rapid Network Capital Projects and other transit improvement projects: $230 million
• Transit stop accessibility improvements: $30 million
• Muni maintenance facility upgrades: $70 million
• Pedestrian safety enhancements: $68 million
• Traffic signal replacement: $22 million
• “Complete Streets” projects, including new or enhanced bikeways: $52 million
The transportation bond will not raise property tax rates, and would include citizen oversight and regular audits to assure accountability and transparency.
The bond measure will be on the November 4, 2014 ballot. To pass in November, the general obligation bond requires a 2/3 majority vote by San Francisco voters.
The $500 million general obligation bond is one of several recommendations of the SF 2030 Transportation Task Force, which Mayor Lee convened last year to examine San Francisco’s transportation infrastructure needs and prepare for the City’s future. The Task Force found that to meet current need and future demand the city requires a $10 billion investment in transportation infrastructure through 2030. The City has identified $3.7 billion in funding, leaving a $6.3 billion funding gap over the next 15 years. For the final recommendations of the Mayor’s SF 2030 Transportation Task Force, go to: www.sf-planning.org/index.aspx?page=3427.