Davis Announces Plan to "Build California"

By CMTA Staff

Capitol Update, Jan. 7, 2003 Share this on FacebookTweet thisEmail this to a friend

(Governor's Press Release) SACRAMENTO - As part of his plan to generate jobs and stimulate California's economy, Governor Gray Davis today announced a new initiative called "Build California."

"The best medicine for national economic recession is new jobs," Gov. Davis said. "Any economic stimulus plan that doesn't produce new jobs simply won't do the job. Americans need jobs today. I've put my focus on creating jobs immediately."

Governor Davis made his announcement at the site where Monterey Trail High School and Edward Harris, Jr. Middle School are scheduled to open in 2004. Construction on the two school projects started last April. Both projects are funded out of Proposition 1A - a school bond approved by the voters in 1998. This year, Governor Davis championed a series of record setting bond measures for the construction and retrofit of schools, new housing projects, veterans' homes and environmental projects.

The "Build California" initiative is an important part of the Governor's comprehensive plan to greatly accelerate school and road construction and stimulate the construction of new affordable housing, accelerating the flow of $21.5 billion in bonds into California's economy and creating jobs now.

The Governor's "Build California" plan includes:

* Working with the State Allocation Board to expedite the allocation of school construction bonds, and directing the Technology, Trade and Commerce Agency to cut in half the time for processing Infrastructure Bank funds to more quickly bring those funds into local economies;

* Directing the Department of Housing and Community Development and the California Housing Finance Agency to set up a process to expedite the awards of $2.1 billion in newly approved housing bonds, which will add an estimated 276,000 jobs over the life of the bond. An estimated 68,000 jobs will be created in the first year;

* Directing the California Department of Transportation and the Resources Agency to cut by a year its environmental process for transportation projects, including adoption of integrated conservation and mitigation planning;

* Creating interagency "Build California Teams" to expedite large capital projects across the State, to shepherd, track and expedite them from start to finish;

* Directing the Business, Transportation and Housing Agency to launch a Blueprint for Homeownership Initiative. This will include a public information campaign to educate lower income households on ways to use existing financial tools to purchase homes, and remove barriers to their use of financial services, like mortgages; and

* Calling upon the UC Board of Regents to establish an "Invest in California" program as part of the $34 billion UC Pension Fund, similar to what PERS and STRS have done.

"All of these actions can be summed up in three words: more jobs now," Governor Davis continued. That's the basis of a real economic stimulus plan."
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