Seeking Sponsors As Infrastructure Dies
"Sales tax revenue generated from Proposition K is slated to cover only $67.9 million of the $1.045 billion estimated cost of the project. State and Federal funding has also been committed for the project, yet there is still $414 million of cost yet to be accounted for. Along with hopes of securing additional funding from the Fed, The Golden Gate Bridge District is responsible for providing $75 million for the Doyle Drive retrofit. To meet the cost of this and other projects, such as the addition of a suicide-prevention net, the Bridge District is seriously considering soliciting corporate sponsorship of the world-famous span.
The appalling fact that corporate sponsorship is on the table for one of the most iconic pieces of infrastructure in the modern world confirms the failure of the public sector in regards to maintaining an aging infrastructure. For the past few years, politicians at all levels of the government seeking office have beaten the drum of tax reductions in order to secure votes, only to find themselves with budget crises on their hands once elected. With city and state budgets strapped, local politicians often look to the federal government in order to help pay for repairing roads and other basic services, not to mention the huge pensions of public employees."