Landmark Climate Equity Fund Approved by Council
SAN DIEGO – The San Diego City Council unanimously approved the creation of a Climate Equity Fund (CEF). This fund will allow the City to target annual funding towards building infrastructure projects that will allow disadvantaged communities to be resilient and adapt to climate change.
“…a strong message to our underserved residents that it is a new day in the City of San Diego.”Vivian Moreno, Councilmember
“I was pleased to propose the creation of the Climate Equity Fund in partnership with Mayor Gloria,” said Councilmember Vivian Moreno. “We not only accomplish the goal of increasing the equity infrastructure investment to our disadvantaged communities and addressing our Climate Action Plan goals, but we send a strong message to our underserved residents that it is a new day in the City of San Diego.”
Disadvantaged communities experience a lack of infrastructure such as, deficient park acreage, unimproved streets lacking pedestrian and bicycle improvements, and insufficient street lighting. Beginning in FY22, the CEF will be funded with the identified revenue sources ($4.8M) and that funding will be available to be used on projects in eligible areas in the FY22 budget, which will be proposed in April and adopted in June.
The CEF would be funded annually through allocation of a percentage of the following revenue sources: Gas Tax, Transnet, and Annual Gas and Electric Franchise Fees. CEF funding allocations to specific projects would be made during the City’s annual budget process and the Council and Mayor’s Office shall seek input on the allocation of CEF funds from the Office of Race and Equity regarding recommendations for geographic project locations and the Sustainability Department regarding the level of impact a project would have on CAP goals.