Governor Schwarzenegger Announces Nearly $300 Million in Voter-Approved Infrastructure Bond Awards

FROM THE OFFICE OF THE GOVERNOR

October 29, 2008

Governor Arnold Schwarzenegger announced today nearly $300 million in voter-approved Proposition 1D and Proposition 1B funds have been approved by the State Allocation Board (SAB) and the California Transportation Commission (CTC) to be allocated to infrastructure projects throughout the state. The allocations are from the Governor's $42 billion Strategic Growth Plan to rebuild California's aging infrastructure, approved by voters in 2006.

"These bond awards are exactly the news our economy needs right now because they are pumping money into our economy and creating jobs now while rebuilding our state's crumbling infrastructure and investing in our future," Governor Schwarzenegger said. "This is the kind of action voters had in mind when they approved my Strategic Growth Plan and I will do everything I can to ensure that the California of the future shines brighter than ever."

To address California's budget deficit and look at more ways to stimulate our state's economy, Governor Schwarzenegger earlier this week announced he will call the legislature into special session. The Governor also wrote to Congressional leadership last week in support of a second stimulus package that includes an increase in infrastructure spending that will provide near-term economic benefits.

More than $192 million in grants from Proposition 1D were awarded today by the SAB to fund new construction and modernization projects at 45 schools throughout the state. Additionally, $480,000 of that will help make Valley View Elementary in El Dorado County and McElhinney Middle School in Riverside County "Green Schools," by incorporating more energy-efficient and environmentally-friendly features into their designs.

The CTC today allocated $102 million in new transportation funding for 14 projects and tomorrow is expected to announce an additional $89 million for two projects, all from Proposition 1B.

To date, more than $2.8 billion in Proposition 1D funds have been issued to school districts statewide and more than $5 billion in Proposition 1B funds have been put to work to improve California's transportation infrastructure.

For more information about the awards announced today please visit, http://www.documents.dgs.ca.gov/dgs/pio/SAB/0810List.pdf for Proposition 1D projects and http://www.dot.ca.gov/docs/ctcprojectallocationsoctober2008.pdf for Proposition 1B projects.