Mayor Ed Lee announced today that the city will invest $8 million over the next two years to begin fortifying San Francisco’s Seawall from Fisherman's Wharf to Mission Creek in order to protect against the dual threats of earthquakes and sea level rise.
"The $8 million investment will allow the Port to advance technical studies and engineering feasibility, engage stakeholders and the public in decision making, seek other sources of funding, and conduct project environmental review," according to a press release from the Mayor's office.
As we reported earlier, the Port says a complete fix of the seawall could cost up to $5 billion, when sea level rise is factored in. Today's press release says the Port's recent Earthquake Vulnerability Study "includes an economic analysis which shows that $1.6 billion in assets are at risk from earthquake damage, and that the Seawall supports $2.1 billion of economic activity annually."
A San Francisco Sea Level Rise Action Plan was published in March and provides a foundation and guidance for a citywide adaptation plan process (to be completed by summer 2018) for further investment in the seawall.