San Diego’s infrastructure funding gap surges to $6.5 billion as growing needs outpace money

The City of San Diego faces significant infrastructure challenges, with a projected funding shortfall of $6.51 billion over the next five years. This gap has widened by 35% from the previous year's estimate of $4.81 billion. Infrastructure Needs San Diego's infrastructure encompasses a wide range of assets, including roads, buildings, utility systems, and public facilities. Each city department responsible for these assets maintains a list of necessary projects, which may involve constructing new facilities, purchasing equipment, major renovations, land acquisition, or roadway improvements. Funding Requirements and Sources The city's Capital Improvements Program (CIP) outlines the long-term plan for infrastructure projects and their funding. However, the demand for infrastructure improvements often surpasses available funding. To finance these projects, San Diego employs several strategies: Bond Financing : The city utilizes long-term borrowing through bonds to ad...