Infrastructure funding in California is grinding to a halt as two crises hit simultaneously: a political impasse unable to resolve a budget gap of $42 billion and a credit crisis leaving the state unable to sell its bonds.
"Road, levee, school and housing construction projects throughout California are on the verge of being halted or delayed, as state officials prepare to shut off their financing in the most drastic fallout yet from California's cash crisis.
All rely on funds that are nearly depleted because the state has been unable to sell the routine bonds it uses to keep cash flowing. Last month, the state failed to sell two-thirds of bonds worth $500 million, according to state Treasurer Bill Lockyer.
Stopping public-works spending also would move California away from what many economists and President-elect Barack Obama are recommending to address the country's deepening recession.
The political impasse over how to resolve a budget gap estimated to reach $41.8 billion by mid-2010 continued in the Capitol on Tuesday (12/17), as the latest budget plan put forth by Democrats was defeated in the Assembly. The vote fell along party lines, 48 to 27, short of the two-thirds vote needed to pass fiscal measures."
Thanks to Gladwyn d'Souza?
FULL STORY: California road, school construction projects could be halted or delayed
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
Google Maps Introduces New Transit, EV Features
It will now be easier to find electric car charging stations and transit options.
Ohio Lawmakers Propose Incentivizing Housing Production
A proposed bill would take a carrot approach to stimulating housing production through a grant program that would reward cities that implement pro-housing policies.
Chicago Awarded $2M Reconnecting Communities Grant
Community advocates say the city’s plan may not do enough to reverse the negative impacts of a major expressway.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
City of Universal City TX
ULI Northwest Arkansas
Town of Zionsville
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