Daily Business Report: February 23, 2026
Former mayor of Coronado announces run for San Diego City Council
by Tessa Balc | Times of San Diego
To little surprise, Richard Bailey has announced that he’s running for the District 2 seat on the San Diego City Council. All that’s left to do is file the forms.
After sending out campaign-style mailers, announcing a ballot measure to remove trash and parking fees — which has yet to materialize — and relocating to Point Loma, the former mayor of Coronado said on Wednesday that he’s planning to seek the council seat.
In his Instagram announcement, Bailey asked for support for what he described as a “non-partisan, policy-focused, back-to-basics” campaign. As mayor of Coronado, Bailey was an active member of the county’s Republican Party. He has since re-registered as an independent, Bailey told Times of San Diego.
‘No Appetite’ for New Fees, San Diego Council Looks to Budget Cuts
by Mariana Martínez Barba | Voice of San Diego
As they prepare for the fiscal year that begins in July, San Diego city leaders are pledging to only make cuts instead of asking residents to pay higher fees.
The reason for that is twofold: First, the San Diego City Council had to go through a lot to approve new revenue sources last year, and for the money to come up short after taking such a beating from the public was demoralizing. Second, at least one councilmember said the mayor failed to execute the Council’s budget direction.
Last year’s attempt to balance the city budget with new money from Balboa Park parking fees resulted in an almost $9 million shortfall, according to the latest estimates. Other revenue sources like hotel taxes are coming in lower than expected, and some city departments overspent on overtime and salaries.
Millions in federal funding awarded for long-delayed San Luis Rey River project
by City News Service | Times of San Diego
Sen. Alex Padilla on Friday announced more than $32 million in federal funding for seven projects in San Diego County.
The largest portion of those funds, $26 million, will go to the San Luis Rey River project in Oceanside to repair levees and remove sediment and sand from the river, intended to lessen flood risks.
Sen. Adam Schiff, another of California’s two Senate members, both Democrats, helped procure the funds.
