Saturday, February 21, 2009
It is not yet clear how much of the federal stimulus package will end up benefiting local projects. But Mary Lewis, chief financial officer for the City of San Diego, says the amount available for construction projects is not huge.
Lewis: "There are other benefits to the city, not just "shovel- ready" money. There is competitive money that the city would have to compete for: pockets of money having to do with housing, energy, homeless shelters, but in terms of project money, it’s looking like it’s less than $5 million that the city would get. "
The city of San Diego is currently negotiating a private loan of $108 million to tackle the backlog of deferred maintenance around town.