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Construction project freeze likely to be felt locally

 

Last updated 1/8/2009 at Noon



California’s top money managers elected to freeze nearly $4 billion in public building loans on December 17, which is expected to dramatically slow or halt construction on roads, schools and housing throughout the state, including North San Diego County.

The Pooled Money Investment Board voted unanimously to stop loans for about 2,000 projects statewide through June, stating the money is not available because of the legislature’s failure to close the significant budget gap.

The total value of projects that could potentially be affected statewide amount to more than $16 billion, as pro...



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