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CBIA Urges Inclusion of School Construction in GO Bond Sale
Last week, CBIA joined a coalition of school and construction groups in sending a letter to Governor Brown urging him to proceed with a General Obligation bond sale in April that includes K-12 school construction.
The coalition urged the governor to include the allocation of proceeds from the bond sale toward the School Facility Program, a tool used by the state to support the construction of school facilities. There is currently a backlog of approved school construction projects under this program that are awaiting state bond funds to commence construction. Funding for these projects is entirely dependent on the availability of state bond funds.
With bond sale proceeds, approximately $1.4 billion in school construction projects could be funded and under contract within 90 days through the State Allocation Board’s “Priorities in Funding” program. Including school construction bonds will move these shovel-ready projects forward, create jobs and ensure the continuation of a public-private partnership to share in the task of constructing and updating school facilities.
For more details, view the whole letter by clicking here.
For more information, contact Richard Lyon.