It's a phase change problem, on this side we're stable (ish) and on the other side we're stable but the transition period would take years and a lot of spending

It's a phase change problem, on this side we're stable (ish) and on the other side we're stable but the transition period would take years and a lot of spending so we stay in the current state. Doing it slowly and safely requires patience from voters and a willingness to suffer the painful transition period where people in the city are paying more taxes without the problem being solved. Patience is a big issue with getting long term projects done in the US, there's always political hay to be made attacking any project with long term pay offs because of the delay between new laws/taxes/construction starting and it ending. Plus it's way more appealing to scrap and change the project to "put their stamp on it" so it's Mayor Bob's revitalization project not Mayor Alice's.