Mayor Kevin Faulconer stood on a street in Golden Hill Wednesday morning to announce that he was making good on a campaign promise to fix streets.
Faulconer said he’d dedicate at least half of the city’s tax revenue growth to repairing roads and other deteriorating infrastructure. He’s proposing an extra $22 million in cash for repairs, which he’ll formalize when he releases his first budget next week.
That number sounds good, but let’s put it into context. Other factors are holding up most of the money Faulconer planned on delivering for infrastructure fixes.
During his campaign, Faulconer pledged a minimum of $180 million in yearly spending on infrastructure fixes. As much as $120 million, or two-thirds of the money, was supposed to come from loans, not cash from the city’s day-to-day budget. The loans have hit a roadblock, in the form of Cory Briggs.