Small, disabled veteran, and disadvantaged businesses that work on California's state and locally-funded construction projects will be interested to know that the 2016 Election Day brings with it the opportunity to vote on a variety of ballot measures which, taken together, allot over $30 billion for transportation infrastructure construction.
The largest ballot measure, to a considerable degree, is the 2016 School Facilities Bond Act, which is set at the amount of of $9 billion, and is anticipated to bring expenditures to $17.25 billion once various matching funds are accounted for, including $1 billion for charter school construction and $1 billion for vocational education.
There are also ballot measures in various California counties that propose a one-half-cent augmentation in the county sales tax in order to pay for various infrastructure projects. These counties making such proposals include Santa Clara County, Contra Costa County, Placer County, Stanislaus County, Monterey County, and Santa Cruz County. Taken together, all these sales tax proposals amount to roughly $11 billion or more in potential infrastructure funds.
In addition, Bay Area Rapid Transit, or BART as it is more commonly known, has a $3.5 billion bond proposal, of which $1.54 billion is allotted for infrastructure. The bond would be a property-tax-based General Obligation Bond and is slated to last for 40 years. The City of Oakland also is proposing a $600 million General Obligation Bond, of which $350 million is set aside for streets and roads projects.
The tens of billions of dollars of infrastructure funds at stake at the ballot box this year are sure to be of interest to those who could perform the work that the various bonds and sales taxes are being set aside for.
Copyright © 2024, DBE GoodFaith, Inc. All rights reserved.
