Intelligent Source readers already know that no good can come from trying to guess the outcome of the California budget process. Who knows what will happen?
Nonetheless, some possible good news burped out of Sacramento yesterday when Gov. Brown released his revised budget for the coming fiscal year. The budget included $1 billion in Prop 1B sales — those are transportation bonds approved by voters in 2006 and greatly needed by Metro to help fund some big upcoming projects.
The annual spring sale of the bonds has already been canceled due to there being no state budget. Obviously a budget is still needed to go ahead with the fall sale of the bonds.
Metro is hoping to receive about $400 million in the coming fiscal year to help pay for projects already under construction and upcoming projects such as the widening of the 5 freeway between the 605 and the Orange County border, a new high-tech system to prevent train collisions for Metrolink and the replacement of the Gerald Desmond Bridge at the Port of Long Beach.
Categories: Policy & Funding