February 5, 2025 - 23:11
Muni board members stressed that real estate development will not help address the agency’s ongoing financial challenges. Despite owning a significant amount of land in San Francisco, the board believes that simply developing these properties may not yield the necessary revenue to resolve the budget deficits.
The agency faces mounting operational costs and declining ridership, which complicates the financial landscape. While some board members have suggested that leveraging their real estate assets could provide a financial boost, others caution against relying solely on development as a solution.
Concerns have been raised about the potential impacts of development on the community and the agency's core mission of providing public transportation. The board is exploring a variety of options to improve financial stability, including potential fare increases and cost-cutting measures. As discussions continue, the focus remains on finding sustainable solutions that prioritize service quality and community needs.
