"the revenue collected over time does not come near to covering the costs of meeting these long-term obligations. Development spread out over a broad area is very expensive to maintain. Over a life cycle, a city frequently receives just a dime or two of revenue for each dollar of liability... Decades into this experiment, American cities have a ticking time bomb of unfunded liability for infrastructure maintenance. The American Society of Civil Engineers (ASCE) estimates deferred maintenance at multiple trillions of dollars, but that's just for major infrastructure, not the local streets, curbs, walks, and pipes that directly serve our homes. Every mature city has a backlog of deferred maintenance, a growing list of promises with no discernible path to make good on them."

https://www.strongtowns.org/journal/2020/5/14/americas-growt...