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Mayor Sanders Wants to Borrow $100 Million for Deferred Maintenance

San Diego Mayor Jerry Sanders wants to borrow 100 million dollars to start taking care of deferred maintenance in the city over the next five years. KPBS reporter Alison St John has more.

Mayor Sanders Wants to Borrow $100 Million for Deferred Maintenance

(Photo: Mayor Jerry Sanders speaks about his plan to borrow $100 million to start dealing with a 900 million dollar backlog of deferred maintenance in the city at the North Clairemont Rec Center  speaking. Alison St John/KPBS )

San Diego Mayor Jerry Sanders wants to borrow 100 million dollars to start taking care of deferred maintenance in the city over the next five years. KPBS reporter Alison St John has more.

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The latest estimate of what it would cost to fix potholes, storm drains and leaky roofs around the city comes to almost $900 million. The mayor's office has negotiated a private loan of $100 million from Bank of America at an interest rate of just 3.5 percent.

Sanders says this is the start of a $760 million five-year plan to take care of deferred maintenance.

Sanders: This is the first down payment on that and over the next five years you'll see us ramping up considerably and that'll actually put all of our streets in acceptable condition by the time we're finished with that program.

More than half the loan would go to re pave 77 miles of road next year.

The rest would fix storm drains and pavements. It would mend 17 leaky roofs on museums in Balboa Park and city recreation centers around town.

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The city council will vote on the private loan next week.

Alison St John, KPBS News.