"The city proposes to issue $1.7 billion in bonds over the next ten years, yet the Capital Plan lacks clarity on funding sources for $52 billion in spending."
"Affordable housing initiatives call for $29 billion, but only $2.7 billion in actual funding is allocated, revealing a significant gap in financing."
San Francisco's newly released Capital Plan underscores a stark imbalance between reported needs and available funding. The plan identifies a staggering $29 billion need for affordable housing, yet allocates only $2.7 billion. With a general fund budget of about $6 billion and a notable deficit, the feasibility of such extensive funding is questionable. Environmental groups have criticized the plan for lacking sufficient attention to climate change, emphasizing that the proposed $1.7 billion in bonds over the next decade does not offer clarity on how to meet the $52 billion spending outlined.
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