Last week the San Francisco Board of Supervisors introduced a $500 million general-obligation transportation bond (GO Bond) for the November ballot. This bond is one of three measures introduced last week as part of the “Transportation 2030” plan. “Transportation 2030” was launched to promote a strategic infrastructure investment plan for San Francisco.
The bond would include $230 million for capital projects to improve the city transit system Muni, $30 million for transit-stop accessibility, $70 million for maintenance, $68 million for pedestrian-safety projects, $52 million for new and improved bike lanes and other street improvements, and $22 million for new traffic signals. The measure is backed by property taxes, though is timed to begin as other debts retire to avoid increasing taxes on property owners. The Board of Supervisors must vote to place the bond on the upcoming November ballot by June 22. Once on the ballot, GO Bond requires a 2/3 majority vote to go into effect.
City officials are also promoting a second ballot measure that would increase local vehicle license fees from .65 percent to 2 percent. This measure is expected to be introduced in the coming weeks. The two measures combined are anticipated to generate $1.5 billion for the city’s transportation infrastructure.