09/25/2008 GAAS:660:08 FOR IMMEDIATE RELEASE Print Version | Email / Share
Gov. Schwarzenegger Announces $730 Million Proposition 1B Funding Allocated to I-405 Los Angeles
Largest Individual Project Allocation to Date Brings Prop 1B Funding Allocation to $4.8 Billion Statewide
Governor Arnold Schwarzenegger today announced the
allocation of $730 million Proposition 1B funding to build 10 miles of a High
Occupancy Vehicle (HOV) lane on Interstate 405 in Los Angeles (between Interstate 10 and Highway
101). This is the largest individual Proposition 1B project allocation made to
date, and was part of more than $800 million in Proposition 1B funding allocated
today by the California Transportation Commission (CTC).
"When California voters approved Proposition 1B they
wanted action, and we are delivering that action," said Governor
Schwarzenegger. "This funding will not only help relieve the traffic congestion
that clogs our Los Angeles freeways - it will
create jobs and help stimulate California's economy when we need it the
most."
$810 million in Proposition 1B funding was allocated
today by the CTC. This includes $80 million for HOV lanes in El Dorado County and Sonoma County, and funding for traffic and safety
improvements through the bond's Traffic Light Synchronization Program and the
State Transportation Improvement Program. The CTC also allocated $69 million
from other funding sources for 29 other transportation projects.
Since the passage of Proposition 1B, $4.8 billion has
been allocated by the CTC and other state agencies. This week the Governor
signed the 2008-09 budget, releasing the $227 million in Proposition 1B funds
previously allocated by the CTC in July and August 2008.
For a comprehensive list of projects that received CTC
allocations today, please visit: http://www.dot.ca.gov/docs/ctcprojectallocationssept2008.pdf (PDF)
