The City will be spending more than $120 million on the improvement projects, which range for water and sewer line replacements to waterfront redevelopment initiatives. Since the money is already allocated, no tax increase will be needed to pay for these projects.
“This isn’t a bailout. It’s a workout for our local economy,” said West Palm Beach Mayor Lois J. Frankel. “We’ll do everything in our power to created much-needed jobs and and improve the lives of our citizens.
Since infrastructure projects create jobs and foster even more economic gains, it is estimated that the long-term effect of these projects on the local economy will exceed $800 million.
The City is finding new efficiencies in order to decrease the amount of time it takes to get new projects started, and is also aggressively lobbying the federal government for funding for infrastructure projects.