While many major metro areas are shying away from long-term infrastructure plans in the midst of federal funding uncertainty, San Francisco recently introduced a 10-year fiscal plan to transform the city’s infrastructure with a series of major construction projects.
The capital plan for 2016-2025 totals $32 billion in investments, a record-breaking level for San Francisco. The plan involves making large-scale improvements to San Francisco’s transportation systems. According to a prepared statement, the plan also includes recommendations for the funding of major IT projects including the replacement of the city’s financial systems and the radio infrastructure used by public safety and public services departments.
“It is impossible to miss the incredible transformation of San Francisco’s roads, parks, recreation centers, libraries, cultural institutions and other infrastructure improvements taking place all over the city as a result of our Ten-Year Capital Plan,” says Mayor Lee said in a public statement.
“This long term fiscal planning and investments have not only made San Francisco a safer and more resilient City, but they have also contributed to our economic recovery by producing thousands of local construction jobs and have supported better and more improved services for our residents through technology. San Francisco voters have passed nearly $2.8 billion in General Obligation bonds over the past eight years and these important investments support our vision of creating a future where prosperity means that everyone shares in our success.”
Read more about San Francisco's infrastructure vision on Real Estate Rama.
