“The proper funding to support municipal bonds is absolutely
essential to the economic recovery efforts in the Inland Empire,”
said Rep. Baca.
“I am thrilled to receive the wonderful news from the White House that our area will receive over $48 million in bonding funds. In the midst of too many crippling state budget cuts, this money will be used to fund vital construction, transportation, and small business development projects that have the potential to create new, homegrown jobs and get our local economic engine moving again in Southern California.”
The Economic Recovery Package enacted this February has already begun to have a positive impact in the Inland Empire. San Bernardino County has received approval for $49.1 million in federal recovery funds to widen the I-215 freeway, a construction project that is expected to create 8,000 jobs. In addition the County has received approval for $9 million in Department of Housing and Urban Development grants to create new low and moderate income housing and prevent homelessness.
The $48.8 million in municipal
bonding funds to the 43rd Congressional District is broken down as
· $17.6 million to the City of San Bernardino;
· $17.7 million to the City of Ontario; and
· $13.5 million to the City of Fontana.
“I thank President Obama for his aggressive action to right our economy, and applaud the White House for their leadership in getting this necessary funding out to our local communities in an expedient manner,” concluded Rep. Baca.
“With our national recession and our current state fiscal crisis, it is a moral imperative that we act to right our economy, create more jobs, and help working families survive these trying times.
I am confident this funding for additional municipal bonds will help us achieve these goals.”
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