HomeMy WebLinkAboutMINUTES - 10221996 - C71 1
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BOARD OF SUPERVISORS _ Costa
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0FFAOM: Supervisor Tom Torlakson x' o� County
PATE: October 22, 1996
SUBJECT: REFER TO THE TRANSPORTATION COMMITTEE THE MATTER
OF APPLYING FOR FUNDS FROM THE STATE INFRASTRUCTURE BANK
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)AND JUSTIFICATION
RECOMMENDED ACTION: Refer to the Transportation Committee to consider appropriate follow-
up action relative to an application for funds for State Route 4 from the State Infrastructure Bank.
BACKGROUND INFORMATION: I received a letter from State Treasurer Matt Fong in response to
my inquiry about availability of funding for the State Route 4 project from the State Infrastructure
Bank. My inquiry has been referred to the State Trade and Commerce Agency. (Please reference
attached correspondence.)
CONTINUED ON ATTACHMENT: X YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S)
ACTION OF BOARD ON October 22, 1996 APPROVED AS RECOMMENDED: X OTHER:
VOTE OF SUPERVISORS:
X UNANIMOUS(ABSENT -------------- )
AYES: NOES:
I HEREBY CERTIFY THAT THIS IS A TRUE AND CORRECT COPY
OF AN ACTION TAKEN AND ENTERED ON THE MINUTES OF
ABSENT: ABSTAIN: THE BOARD OF SUPERVISORS ON THE DATE SHOWN.
ATTESTED
October 22, 1996
,*HIVPATCHELOR,CLEpKoFftHE#6ARD OF
S RVISORS AND 65UN ISTRATOR
BY
DEPUTY
cc: John Cullen, Director,Social Services Department
Kathleen Dorosz, In-Home Supportive Services Task Force
VpG':: `l
6
MATT FONG
C`�rPttstTu'rex
State of t1 1ifornin
September 23, 1996
Mr. Tom Torlakson
Supervisor, District Five
Contra Costa County
300 East Leland Road, Suite 100
Pittsburg, CA 945654961
Dear Mr. Torlakson:
Thank you for your letter in support of the creation of a state infrastructure bank and the
designation of State Route 4 as a recipient of transportation funds.
Senate Bill 101 of 1994 created the California Infrastructure and Economic Development Bank
(Infrastrucure Bank), of which I am a member, and placed it within the California Housing Finance
Agency. A measure last year, Senate Bill 1265, which I supported,:moved the bank to the California Trade
and Commerce Agency. To date,the Infrastructure Bank has completed a number of small industrial
development bond financings,but has yet to finance any traditional infrastructure projects.
Last year I supported a congressional budget provision to provide$200 million to fund ten state
infrastructure banks on a pilot program basis, and California received a large percentage of those funds.
However,the California Department of Transportation(CalTRANS)was the agency that the federal
legislation designated as the recipient of the funding. Now the bank must endeavor to work with
CalTRANS to maximize and leverage these funds to improve our aging state infrastructure system.
In regard to State Route 4 being designated a recipient of highway funds through the Infrastructure
Bank, I have taken the liberty of forwarding a copy of your letter to Glen Stober, staff to the Infrastructure
Bank for the Trade and Commerce Agency, for his review and comment.
Please call upon me whenever I may be of assistance.
Warmest regards,
Matt Fong
State Treasurer
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915 CAPITOL MALL ROOM 110, SACRAMENTO, CALIFORNIA 95814 (916) 653-2995 FAX (916) 653-3125