San Francisco's transportation infrastructure is set to receive a significant boost as the San Francisco Municipal Transportation Agency (SFMTA) reported on the progress of the $500 million transportation and road improvement bond approved by voters in November 2014. During a recent meeting, Capital Budget Manager Rob Jacquez outlined the current status of the bond's expenditures and future plans for the remaining funds.

As of the end of fiscal year 2024, approximately $404 million of the bond proceeds have been spent, with an additional $40.6 million encumbered. This leaves $55 million still available for expenditure or encumbrance. The majority of the funds have been allocated to Muni Forward projects, aimed at enhancing the reliability and safety of public transportation across the city.

Jacquez emphasized that 89% of the total bond amount has either been spent or encumbered, indicating a strong commitment to improving transportation services. However, he noted that the 2021 C bond issuance is currently below the IRS's 85% spending target for tax-exempt bonds. SFMTA staff are actively working to analyze and accelerate spending to ensure compliance and effective use of the funds.

The meeting also highlighted specific areas of focus, such as traffic signal improvements, which have seen less expenditure compared to other projects like Caltrain upgrades, which are nearing full expenditure. The SFMTA plans to return to the committee with a strategy for reprogramming any remaining funds to maximize their impact.

Committee members expressed appreciation for the detailed reports and the tangible benefits these projects bring to the community. They acknowledged the importance of ongoing communication with local merchants affected by infrastructure changes, particularly in the Geary Boulevard improvement project.

As the SFMTA continues to implement these critical transportation improvements, the community can expect enhanced public transit options that align with voter expectations and support the city's growth and accessibility goals.