Letter to barbarycoastnews – excerpt
Arguments against MUNI infrastructure improvement bond
What does the ballot measure do:
Raises property taxes and rents (50% pass-through) to pay for General Obligation Bonds of $500 million, with $350 million in interest payments, for a total debt load of $850 million.
Funds “may be allocated” for transit and roads—carte blanche authority for unspecific projects.
If the Bond is rejected by voters, property taxes and rents would be reduced for everyone—not just for rich companies and the wealthy.
To read the Ordinance’s legal language is to oppose the Bond Measure.
The Ordinance’s legal language makes no definitive commitment to any specific work: “Projects to be funded under the proposed Bond may include but are not limited to the following:”
Then, for eight project types, all eight begin with: “A portion of the Bond may be allocated to…”
In financial decisions, never sign a contract when the terms and deliverables are ambiguous.
Throwing billions of dollars at bad Muni projects hasn’t worked... (more)
Are San Francisco voters likely to raise their property taxes and rents to pay for more Muni projects?