California First To Sell Build America Bonds And Take Advantage of Federal Recovery Act
June 11th, 2009 Categories: Sacramento Economy, Sacramento Landmarks, Sacramento Politics
Gov. Schwarzenegger Said on Wednesday that California is the first state in the nation selling Build America Bonds, and taking advantage of the new Federal Recovery Act . With this help, more than 5,000 projects will be restarted in California. Restarted projects cover everything from transportation, school construction, environmental and park projects, infrastructure projects and more. Many of these projects have been on hold since December 2008.
One of the most awaited projects to get restarted for Sacramento is the The Railyards in the downtown district.
The Railyards, a joint venture with Thomas Enterprises will redevelop the 240-acre downtown Sacramento railyard, that has been on the books for several years.
Governor Schwarzenegger released a statement after the California Transportation Commission voted to give additional American Recovery and Reinvestment Act (Recovery Act) funding designated by the federal government for highway transportation infrastructure projects.
He said “We must maximize the use of precious tax dollars – not only in California’s General Fund spending but also with the Recovery Act funds coming into the state for federally defined purposes. President Obama designated Recovery Act funding for transportation infrastructure to create and save jobs while also investing in our nation’s infrastructure – and in California we are working around the clock to take full advantage of each and every dollar.”
