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The Downtown Streetscape Project, burying overhead utility lines, and planning for a park at the Del Mar Shores property are first in line for a share of Measure Q funds, the City Council agreed Sept. 17.
Approved by voters in 2016, Measure Q increased the city’s sales tax rate by 1 percent, which translates into about $2 million in annual revenue.
To date, Measure Q has accumulated about $2.4 million since collection began in April 2017.
For the 2018-19 fiscal year, which ends June 30, the council agreed to direct $2.15 million of these monies toward Downtown Streetscape, a roadway and sidewalk construction and beautification program between Plaza and Ninth streets, which is expected to break ground in January.
Undergrounding overhead utility lines – a long-term project that is estimated to cost $20 million – will receive $424,500 this year to further develop designs for the first construction projects, anticipated to begin during the 2019-20 fiscal year. Also for 2018-19, Measure Q will provide $268,000 for planning and design work for the future Shores Park.
Upon a recommendation from the Finance Committee, the City Council agreed to create a dedicated account for Measure Q funds, minimize debt financing in favor of short-term loans, maintain cash flow models for Measure Q projects, and maintain a cash reserve of $500,000.
More information can be found in this staff report.