San Diego economic development group endorses Prop. D
By City News ServiceThe San Diego Regional Economic Development Corp. board voted Wednesday to endorse a measure on the Nov. 2 ballot that would raise the sales tax in the city by a half-cent.
However, the EDC said it would work to repeal Proposition D if the city does not implement the recommendations made by an 11-member Citizens’ Fiscal Sustainability Task Force.
The City Council voted last week to adopt the task force’s recommendations to seek $73 million in spending reductions from the city, freeze new spending at $20 million annually and dedicate any surplus to reserves or infrastructure.
“San Diegans owe the Citizens’ Fiscal Sustainability Task Force a great debt of gratitude for the hundreds of hours of work that, for the first time, laid out a plan that can restore the city’s health,” said Debra Reed, chair of the EDC board.
In its report, the task force said a sales tax increase, coupled with financial reforms, are both needed to overcome projected ongoing budget shortfalls in San Diego.
Proposition D would raise the sales tax in San Diego by a half-cent over the next five years -- if 10 budget and pension reforms are met first. It would generate about $103 million a year.
Last week, the San Diego Regional Chamber of Commerce voted to endorse Proposition D.