Prop A passes: Whats It Do To San Francisco Property Taxes

Proposition A: A bond measure authorizing the city to borrow $185 million for construction, rebuilding and improvements to park and recreation facilities, was approved by nearly 72 percent of voters.

The bond funds will be divided into $117.4 million for 12 neighborhood parks and $33.5 million for potential projects at nine waterfront parks. The remainder will be allocated for park restrooms, athletic fields, nature trails, forestry and other park and recreation projects.

Fiscal Impact: Proponents argued the money is needed to repair or replace deteriorating facilities, and to make safety and aesthetic improvements and earthquake retrofits, and that there would be no increase in property taxes to repay the bonds.

According to the Neighborhood Parks Council,
the bond will hold property taxes stable. Prop. A bonds are only to be sold as old bonds are repaid, thus “keeping the property tax impact from general obligation bonds approximately the same over time,” via the City Controller.

Following is a list of parks to receive substantial repair based on need for repair, density of use and needed earthquake upgrades.

  • Chinese Recreation Center
  • Mission Playground
  • Palega Playground
  • Cayuga Playground
  • McCoppin Square
  • Sunset Playground
  • Fulton Playground, Mission Dolores Park
  • Cabrillo Playground, Glen Canyon Park
  • Lafayette Park
  • Kimbell Playground.
Thanks for Reading
Howard bell

No comments: