Tuesday, March 24, 2015 - NEWS RELEASE
San Diego - Today Mayor Kevin L. Faulconer won unanimous City Council approval for a $120 million bond financing plan to improve streets, fire stations, libraries and infrastructure in neighborhoods throughout the city.
"San Diegans who want their streets repaired will find a lot to like in this package," Mayor Faulconer said. "We're moving full steam ahead with improvements to neighborhoods throughout San Diego. This plan will fund critical projects - from street repair to fire stations to libraries - in the communities that need them the most."
The $120 million plan focuses heavily on street repairs, which Mayor Faulconer named the City's No. 1 infrastructure priority in his Jan. 14 State of the City address. The $49 million for street projects represent significant progress toward fulfilling Faulconer's pledge to repair 1,000 miles of streets over the next five years.
Today's vote comes three weeks after Mayor Faulconer unveiled a reform package to repair the city's repair system. The changes are projected to speed up street projects by an average of 20 percent.
"Rebuilding San Diego is the most important issue facing our City," said Councilmember Mark Kersey, chair of the Infrastructure Committee. "The injection of this much needed funding will have a noticeable impact in our neighborhoods. These improvements will help make San Diego more economically competitive, increase safety and provide residents with the communities they deserve."
The spending plan includes:
- $49.2 million for street repairs, equivalent to roughly 100 miles of roads
- $26.3 million for design work and construction of five fire stations
- $22 million for storm drain improvements.
- $10.8 million for design work and construction of four libraries
- $4.3 million for Americans with Disabilities Act improvements
- $1 million for sidewalk improvements
The bonds should be available for capital projects next month, according to a report by the City's debt management department.
CONTACT: Craig Gustafson at (619) 453-9880 or [email protected]