California Gov. Schwarzenegger Applauds Approval of $3.5 Billion for Transportation and Goods Movement Projects

04/10/2008 -- California Governor Arnold Schwarzenegger today applauded the California Transportation Commission's (CTC) approval of $3.5 billion in Proposition 1B bond funds for transportation and goods movement projects throughout California.

The infrastructure bond funding, championed by the Governor and approved by voters in November 2006, includes $42 billion for education, housing, levee repair, flood control, parks and transportation projects and plays an important role in creating jobs, preserving our quality of life and growing the state's economy.

California Governor Arnold Schwarzenegger: The Governor announced that the California Transportation Commission has approved nearly $3.5 billion in Proposition 1B bond funds for transportation projects throughout California. Photo courtesy California Governor's office.

"The CTC has done a great job in getting this money out so we can rebuild our state and boost our economy just like our voters expected and deserved when they passed our infrastructure bonds in 2006. Today's funding will be used to improve the flow of goods, reduce congestion and improve air quality. In addition, these projects will create thousands of jobs," said Governor Schwarzenegger.

The Governor has taken a number of actions to stimulate California's economy this year, including:

* Announced $394 million in Proposition 1B bond funding for 106 transit projects statewide.
* Announced $10.5 million to train workers displaced by the housing slump.
* Awarded $73 million for affordable housing projects in Proposition 1C and Proposition 46 funds to help more than 1,600 California families rent or purchase affordable housing.
* Awarded $5.6 million to help displaced mortgage and banking workers find new jobs.
* Awarded more than $2.7 million to registered nurse training programs to help boost the health care workforce in underserved areas.
* Awarded more than $6 million in grants to help more than 1,500 newly discharged veterans as they return to the civilian workforce.
* Announced $69.5 million in permanent low-interest loans from the Proposition 1C housing bonds to jumpstart 14 affordable multi-family projects up and down the state, helping more than 1,000 California families and individuals realize the dream of an affordable rental home.

"We are not just sitting by and waiting for the economy to pick back up. By using bond money to leverage private investment, we can create jobs and pump up the economy," said Governor Schwarzenegger. "We are taking action to rebuild our state, re-energize the economy and revitalize California's workforce."

The Governor also called for the broad use of Performance Based Infrastructure (PBI) and proposed the Strategic Growth Council to promote economic, sustainable growth and development and meet the state's skilled workforce demands with 20,000 new engineers over the next decade.

A list of all the projects awarded funding today is available at: http://www.dot.ca.gov/tcifprojectsandctcaprilvotelist.htm.

Source: California Governor

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