SAN DIEGO, Calif. - The San Diego City Council on Monday approved a $35 million capital improvement program.

The bond measure will improve three libraries, build a new fire station and upgrade the Mission Beach boardwalk, storm water systems and local roads.

San Diego City Councilman Mark Kersey told 10News that interest rates are at an all-time low and the city will pay the bonds off in the future by leasing its existing facilities.

"Infrastructure is a long-term investment so this is an appropriate way to pay for it," said Councilman Kersey, who added the improvements will have a big impact on communities. "I think people will want to see that City Hall cares about the neighborhoods."

The $35 million capital improvement program is a drop in the bucket after the city estimated upwards of $1 billion worth of improvements are needed in San Diego. Kersey told 10News it needs to start somewhere.