Friday, Oct. 28, 2011
Contact: Media Information Officer Edward Cartagena
Phone: (619) 688-6670
$784 Million In New Transportation Funding To Help Create Jobs And Bolster The Economy
SAN DIEGO – Following last week's announcement of the general obligation bond sales, the California Transportation Commission (CTC) today allocated $784 million in new funding for 61 projects that will help create thousands of jobs bolstering the state's economic recovery - and reduce traffic congestion, repair highways and bridges, and make driving safer for everyone.
Last week's bond sale allowed projects that were delayed or at risk of delay due to lack of funding to move forward to construction. In addition, the bond proceeds will also fund more than 300 ongoing projects through June 2012. The ongoing and newly allocated projects leverage around $11 billion in non-state funds, giving our economy an added boost.
"These projects will allow billions of dollars to flow into construction and produce enormous economic benefits for California," said Acting Caltrans Director Malcolm Dougherty.
San Diego's highlight of the funding allocations include:
The Interstate 805 (I-805) Express Lanes North project received $54,500,000 to construct High Occupancy Vehicle lanes and a direct access ramp in the median of I-805 from State Route 52 to Sorrento Valley Road.
The CTC funding today includes $695 million from Proposition 1B, the 2006 voter-approved transportation bond. To date, the state has allocated more than $9 billion in Proposition 1B funds.
Please see the attached file for more information about all projects that received allocations today.
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