(Photo: Mayor Jerry Sanders delivered an address to the Taxpayers Association on his vision for the city in spite of troubled financial times. Alison St John/KPBS )
San Diego Mayor Jerry Sanders is warning of a major mid-year budget cut for the city, due to the financial crisis. But in an address to the Taxpayers Association Tuesday, he also promised to push for major projects to stimulate the economy. KPBS reporter Alison St John has more.
Sanders says no one predicted that, right as San Diego got a foothold back on Wall Street, the markets would crash. He says tourism, property and sales tax revenues are down, and the city projects a $43 million deficit this year. Cuts in city services are coming, he said.
But the mayor also wants to develop Lindberg Field as a transit center, keep the Chargers as a regional asset, build a new city hall and expand the Convention Center
Sanders: With the Charger Stadium, the Civic Center and the Convention Center, it’s not going to be existing taxes… those would have to be new sources from different places, it has to make business sense.
Business leaders reacted positively, saying spending on San Diego’s infrastructure will create jobs.
They say now is not the time to sell bonds, but that the market may recover by the time San Diego is ready to move on these ideas.
Alison St John, KPBS News