This resolution authorizes the construction and improvement of transportation and street safety infrastructure in San Francisco, allowing landlords to pass on 50% of the resulting property tax increase to tenants. It also establishes procedures for the election related to the bond funding necessary for these projects.
Resolution determining and declaring that the public interest and necessity demand the construction, acquisition, improvement, and retrofitting of transportation, street safety and transit related improvements, and other critical infrastructure and facilities for transportation system improvements and safety improvements and related costs necessary or convenient for the foregoing purposes; authorizing landlords to pass-through 50% of the resulting property tax increase to residential tenants under Administrative Code, Chapter 37; providing for the levy and collection of taxes to pay both principal and interest on such bonds; incorporating the provisions of Administrative Code, Sections 5.30-5.36; setting certain procedures and requirements for the election; finding that the proposed bond is not a project under the California Environmental Quality Act (CEQA); and finding that the proposed bond is in conformity with the eight priority policies of Planning Code, Section 101.1(b), and with the General Plan consistency requirement of Charter, Section 4.105, and Administrative Code, Section 2A.53.
How it got here
The Muni Reliability and Street Safety Bond originated from a series of transportation task forces that identified significant infrastructure needs in San Francisco.
The task force determined that the city's transportation infrastructure was unable to meet current and future demands, estimating a need for $10.1 billion in improvements over 15 years.
This task force identified additional transportation system improvement needs estimated at $22 billion, building on the previous task force's findings.
The initiative outlined resources needed to achieve a community-driven vision and identified revenue solutions, including the issuance of general obligation bonds.
The departments determined that the proposed bond is not a project under CEQA, allowing it to proceed without further environmental review.
The Board introduced an ordinance to place a $400 million General Obligation Bond for transportation improvements on the June 2022 ballot.
The Board adopted the resolution for the Muni Reliability and Street Safety Bond, which was subsequently approved by the Mayor.
Reconstructed from attached documents & the official record
