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Funding crisis threatens park, levee, science projects

Posted by: Maven on December 24, 2008 at 6:52 am

From the Sacramento Bee:

Near Placerville, long-sought park land might fall out of escrow. In the Sacramento-San Joaquin Delta, vital ecosystem research has been halted. And in West Sacramento, officials fear a delay in rebuilding levees.

These problems and more are piling up in the Sacramento region as California’s budget crisis worsens.

This week, many nonprofits and local agencies are coming to grips with a decision Dec. 17 by an obscure state financing agency, the Pooled Money Investment Board.

The board was forced to preserve cash flow for basic government operations. It did so by freezing payment for some 2,000 projects funded by more than a half dozen voter- approved bond measures.

The funding stream will probably be restored for many projects once the governor and Legislature make a deal to resolve California’s $40 billion budget deficit. But some may not be able to wait, and there’s lots of fretting over how much the delay will hurt in the meantime.

Read more from the Sacramento Bee by clicking here.

December 24, 2008 · Filed Under General Water Issues

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