Real estate, land and homes, are one of San Diego's greatest assets. The land in San Diego, with its famous beaches (Coronado, La Jolla, Carlsbad, Del Mar, etc.), warm climate, and quality lifestyle, bring great value to the property in the city and surrounding areas. During the recession property values decreased (2009) and are still low today. As the national and local economy recover, the land value in San Diego is likely to go up in prices as well. The City of San Diego is once again financially stable and will have a surplus of funds this year. The city will be restoring services that were cut during the recession (library hours, fire infrastructure and police).
Mayor Jerry Sanders released a statement (here) this week stating:
"After years of cutbacks, we see the light at the end of what has been a very long and dark tunnel," Sanders said. "The city’s decades-long structural budget deficit is history." Sanders’ announcement accompanied the release of the annual Midyear Budget Report, which projects a surplus of $16.5 million over the approved budget for the fiscal year ending June 30. A portion of the surplus comes from revenues being higher than anticipated when the budget was completed in June. This recovery of revenue from recessionary lows is expected to continue for the foreseeable future, warranting the targeted restoration of services in the police, fire, library and park departments. Plans for this spring the mayor announced on Thursday include: Increasing operating hours at all 35 branch libraries in the city by an additional four hours per week, bringing every library up to 40 hours per week. Adding five hours per week to operations at all of the city’s 55 recreation centers. Adding 15 more cadets to the next police academy for a total of 35 cadets in the academy. Funding a new fire station alert system that connects the city’s 47 fire stations with the dispatch center, to replace the badly outdated 20-year-old system.
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