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San Diego resumes efforts to create city-run public bank [The San Diego Union-Tribune] San Diego city leaders want to explore creating California’s first government-run public bank, which could loan out tens of millions of dollars in city reserves for projects related to affordable housing, climate change, social equity or other goals. A supermajority of City Council members recently asked Mayor Todd Gloria to hire an economist to write a proposed business plan for a public bank to assess the feasibility of the proposal and evaluate any risks. Because such a study was requested by six of nine council members, Independent Budget Analyst Andrea Tevlin has launched a separate analysis so she can help guide the council on the issue. ....
SAN DIEGO San Diego city leaders want to explore creating California’s first government-run public bank, which could loan out tens of millions of dollars in city reserves for projects related to affordable housing, climate change, social equity or other goals. A supermajority of City Council members recently asked Mayor Todd Gloria to hire an economist to write a proposed business plan for a public bank to assess the feasibility of the proposal and evaluate any risks. Because such a study was requested by six of nine council members, Independent Budget Analyst Andrea Tevlin has launched a separate analysis so she can help guide the council on the issue. ....
San Diego officials on Wednesday began discussing potential budget cuts and the possibility of burning through city reserves to help close a projected $154 million deficit, which is nearly double the $86 million shortfall projected in November. The spike is the result of a nearly $50 million increas ....