Sacramento - Caltrans on Wednesday released a White Paper that highlights the negative economic impacts the budget delay is having on transportation projects statewide.
The effects of the delayed budget are being felt as the California Transportation Commission meets yesterday and today. Funding for transportation projects worth over $2.1 billion that are contingent on the approval of the state budget may either be deferred or delayed. These include projects funded by Proposition 1B, the transportation bond approved by state voters in 2006. In addition, the department cannot award over $900 million in new contracts to construction firms, and payments to contractors on $9.5 billion of current construction may be delayed in the coming months due to the lack of available cash. TSPN will have more details in an upcoming news broadcast. A TSPN TV Report This email address is being protected from spambots. You need JavaScript enabled to view it.
Thursday, 12 August 2010 06:08
State Budget Delays Impact Caltrans Transpo Funding
Sacramento - Caltrans on Wednesday released a White Paper that highlights the negative economic impacts the budget delay is having on transportation projects statewide.
The effects of the delayed budget are being felt as the California Transportation Commission meets yesterday and today. Funding for transportation projects worth over $2.1 billion that are contingent on the approval of the state budget may either be deferred or delayed. These include projects funded by Proposition 1B, the transportation bond approved by state voters in 2006. In addition, the department cannot award over $900 million in new contracts to construction firms, and payments to contractors on $9.5 billion of current construction may be delayed in the coming months due to the lack of available cash. TSPN will have more details in an upcoming news broadcast. A TSPN TV Report This email address is being protected from spambots. You need JavaScript enabled to view it.
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