San Francisco's mayor has big plans for the next few years. The new budget contains hundreds millions in spending on capital improvements.
In the short-term, Mayor Lee says, that means more jobs for San Franciscans. He estimates that 3,200 positions will be created to support the planning and construction.
And that only includes a few city agencies. More details about the rest of the city budget are expected within the next month.
Among the improvements that Lee has called for: fixing earthquake hazards, better airport runways, and preparations for the America's Cup, according to the Gate. The improvements will cost around $500 million, a small portion of the city's $6.6 million budget. They will be funded by departments that bring in revenue from sources like fees and rental agreements.
But it's not all spending sprees down at City Hall these days. Lee has also asked the police to accept pay cuts. The alternative, he says, is to lose cops from the city's ranks.
The Mayor has also stated that he expects several more years of tight budget problems. A five-year plan to correct the city's finances includes debt reforms, taxes, and reducing city employees' pensions. Lee asked city departments to identify large cuts in their budgets in anticipation of some long-term belt-tightening.